Empire Outlets scores another $20M state grant

State subsidies for BFC Partners’ Staten Island project now total $67M

TRD New York /
Jan.January 27, 2017 10:00 AM

Gov. Andrew Cuomo’s economic development agency gave another $20 million grant to BFC Partners for its retail development on the Staten Island waterfront, bringing the state’s total funding in the project to $67 million.

The grant — the third round of state subsidies given to Empire Outlets — was approved Monday, Politico reported. The development is expected to employ around 1,300 people, and will bring stores, restaurants and a hotel to the site next to the St. George Ferry terminal. State officials say the extra funding is to make sure the site is protected in the case of a major storm. Hurricane Sandy flooded the area with five feet of water.

However, some are concerned about the subsidy package — which accounts for around a fifth of the total project cost of $354.4 million — amid the bid rigging and bribery scandal that has engulfed the governor’s inner circle.

“An outlet mall on prime waterfront property is a really questionable use of $67 million in subsidies,” E.J. McMahon, president of the Empire Center, a fiscally conservative think tank, told Politico. “We could build four upstate film hubs with that kind of money.”

Records reviewed by Politico show Joseph Ferrara, a principal at BFC Partners, sent Cuomo $3,500 in two checks on Jan. 4 this year. BFC Partners and entities had previously given $85,000 to Cuomo’s campaign. Cuomo aides maintain donations have no bearing on state policies.

Brooklyn-based BFC Partners, is the developer behind Bedford-Union Armory project, a controversial residential development in Crown Heights. [Politico]Miriam Hall


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