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Total taxpayer funds allocated to NYC hotels for migrant shelters by end of 2024?
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Official NYC government reports or verified news sources
Story
NYC Hotels to Receive Over $1 Billion in Taxpayer Funds for Migrant Shelters at $4820 Per Room
Jul 8, 2024, 01:41 PM
New York City hotels that have converted into migrant shelters are set to receive over $1 billion in taxpayer funds, according to internal documents. This expenditure is equivalent to $178 revenue per available room (RevPAR), which is comparable to midrange Manhattan hotel rates before the COVID-19 pandemic. The funds are part of a broader initiative to support migrants, which includes a controversial prepaid debit card program operated by MoCaFi. This program, initiated through a no-bid contract, has incurred $850,000 in costs, with only $648,000 directly benefiting migrants. MoCaFi has reportedly earned $211,000 from this program. Additionally, the city has signed a contract with MoCaFi involving tens of millions in spending over several months, with significant fees frontloaded. Critics argue that wealthy hotel owners are the primary beneficiaries of these taxpayer-funded initiatives, while taxpayers themselves bear the financial burden. Long Island City is home to 23 government-run migrant shelters. The cost per room is approximately $4820 per month.
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