Saturday, 23 April 2016

State Shifts Funding Source for Staten Island’s Empire Outlets

Money had been due to come from a fund set up by corrupt ex-Senator Dean Skelos

Next year, the St. George Ferry Terminal on Staten Island is due to get a new neighbor called Empire Outlets. It will have 100 stores, a 190-key hotel, and restaurants. Right now, they’re trying to pay for it, and the Empire State Development (ESD) has changed where it’s getting some of its contributions to the project, Politico New York reported. ESD is contributing $21.9 million and $16.5 million of that was due to come from the Transformative Investment Fund (TIF) set up by now officially corrupt former State Senator Dean Skelos. Well, that money is now going to come from the New York Works Economic Development Fund, which was created by Gov. Andrew Cuomo in 2012.

There was no reason given for the switch, but it’s not the first ESD project to get away from using TIF money. In January, ESD dropped TIF from projects in Brooklyn and the Bronx. As for the rest of that $21.9 million, Politico New York said "$875,000 from a marketing program and $4.5 million that was approved through the state’s network of regional economic development councils."

The overall Empire Outlets project is also benefiting from $25.3 million in funds from city agencies and $1.5 million from the Staten Island Borough President’s office, The Real Deal reported. Empire Outlets is being developed by BFC Partners with design by SHoP Architects.

Meanwhile, Skelos is awaiting sentencing for his corruption conviction.

Subsidy for Staten Island outlet mall, in different form, moves forward [Politico New York]

State switches funding source for BFC Partners’ Empire Outlets [TRD]

Prosecutors Seek Prison Sentences for Dean Skelos and Son in Corruption Case [NYT]

Empire Outlets [Official]


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