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Borough President James Oddo is considering charging all non-Staten Islanders $4 to ride the Staten Island Ferry to his “forgotten borough”. Residents and SI-workers would carry a special ID card, that would exempt them from what he is calling a “tourist” fare. [The Staten Island Advance]
Anticipating an extra 1 million ferry riders a year coming to Staten Island for the soon-to-be-built NY Wheel and Empire Outlets, Oddo’s Independent Budget Office calculates a potential windfall amounting to millions each year.
Maybe Brooklyn, Queens, Manhattan and The Bronx should charge “non-locals” to visit too.
The Staten Island Advance: Implementing a “tourist-only” Staten Island Ferry fare, or a MetroCard swipe for non-borough residents, would amount to millions of dollars in revenue for the city each year, according to a recent study.
The study, which is on the IBO website, presents a scope for the next 15 years and includes two payment methods: the aforementioned, stand-alone ferry charge for tourists, and an implementation of the MTA’s MetroCard system for all who live outside of Staten Island. The estimated revenue gathered in the study includes the installation costs of gates, turnstiles, and ticket vending machines.
“I still believe raising revenue from tourists from Italy and Indianapolis is better than raising an equivalent amount from more fees, fines and property taxes,” said Oddo in a statement.
Read more from The Staten Island Advance here…
by Mai Armstrong for Working Harbor Committee
The New York Wheel is about to get $150 million from Chinese investors, now that the project has been approved for EB-5, a federal green card job program.
EB-5 puts foreign investors (and their family members) on a path to permanent residency in the US. For a $500,000 investment, those who can afford it, are provided temporary visas, which can in turn lead to green cards, if their investment creates 10 jobs in a 2-year period. [Staten Island Advance]
Staten Island Advance: The [NY] Wheel will rake in a total of $150 million in foreign investment through a popular federal program known as EB-5, project CEO Rich Marin told the Advance Wednesday.
EB-5 provides temporary visas for affluent foreigners and their families if they invest at least $500,000 in job-creating enterprises. This can eventually lead to them receiving green cards if their investment creates at least 10 permanent jobs within two years.
The $150 million investment in the Wheel project will come from 300 foreigners living in China, each investing $500,000. In total, the New York Wheel will create 350 construction jobs and 500 permanent, full-time positions.
Read more from the Staten Island Advance here…
by Mai Armstrong for the Working Harbor Committee