What New York City will save people on groceries will cost $70 million in taxes to start. REASON reported: “…the city plans to spend $70 million in capital costs,…
Another report (https://edc.nyc/program/nyc-groceries) indicates: ” The City, through NYCEDC, will provide the foundation and deliver grocery-ready sites, cover rent and property taxes, fund initial buildout..”…
Even if the city-run stores push other grocers out of business, create resale markets, or produce other unintended consequences, the city will have little incentive to shut them down because taxpayers will always be there to foot the bill. Plus, the city can take credit for making life more “affordable” for New Yorkers.
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