REBNY-backed PAC primed to jump into state races next year

New York /
Sep.September 30, 2013 12:42 PM

Jobs for New York, the political action committee backed by the Real Estate Board of New York, is looking to become a player in next year’s state elections after spending nearly $7 million to influence City Council races this year.  All 213 members of the New York State Legislature are up for election next year, and if REBNY chooses to donate to candidates through the PAC, it would represent a shift away from the direct-donation strategy that real estate executives have used for several years at the state level.

“It’s more efficient than giving to a campaign and relying on that campaign to spend the money wisely and efficiently,” a real estate insider unaffiliated with Jobs for New York told Crain’s. “I know donors historically have been disappointed when they see an upstate campaign that’s run inefficiently, like a candidate who loses a close race with lots of unspent funds in the bank.”

The PAC has not yet  made any decisions about the 2014 races but discussions are ongoing, a source close to the group told Crain’s.

“REBNY believes that the need for good jobs and more housing, and the tax revenue that results from such activity that will pay for vital government services, are just as important at the state level as the city,” a source close to the PAC told Crain’s.

A spokesperson for REBNY declined to comment to Crain’s. [Crain’s]  – Hiten Samtani


Related Articles

arrow_forward_ios
John Banks
High expectations: A look at John Banks’ 4 years at REBNY
High expectations: A look at John Banks’ 4 years at REBNY
John Banks
John Banks to step down as REBNY president
John Banks to step down as REBNY president
REBNY Awards
Newmark Knight Frank wins REBNY retail award for Alamo Drafthouse deal in FiDi
Newmark Knight Frank wins REBNY retail award for Alamo Drafthouse deal in FiDi
Total size of New York construction sites is smallest since 2010. (Getty)
New construction projects off to slow start in 2021
New construction projects off to slow start in 2021
(iStock)
Landlords seek up to 5% rent hike on stabilized apartments
Landlords seek up to 5% rent hike on stabilized apartments
Gov. Andrew Cuomo, Andrea Stewart-Cousins and Carl Heastie (Getty; iStock/Illustration by Kevin Rebong for The Real Deal)
Landlords’ building emissions workaround is dead
Landlords’ building emissions workaround is dead
From left: Assembly member Harvey Epstein, State Sen. Julia Salazar,  MBA's Mike Flood and REBNY's James Whelan (Getty, Anuja Shakya/Whelan, MBA/Flood)
Real estate makes last-minute push to kill proposed preferred equity tax
Real estate makes last-minute push to kill proposed preferred equity tax
Compass' Robert Reffkin and REBNY's James Whelan. (Getty, Whelan ph: Anuja Shakya)
Compass slams REBNY with antitrust suit
Compass slams REBNY with antitrust suit
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...