Dear New Yorkers,
Last June, Gov. Kathy Hochul announced that a much anticipated deal had finally been reached to fund a $200 million public-private fund that would finance cannabis dispensaries run by the people who have been the most impacted by the war on drugs.
“Today’s announcement reinforces New York’s commitment to building partnerships that benefit New Yorkers and setting right the wrongs of the past,” Hochul said at the time.
But an investigation by THE CITY — based on a cache of documents including a near-final draft of the loan agreement, internal agency emails and financial projections — reveals the state instead signed off on a lopsided deal that undermines the state’s commitment to social equity goals while guaranteeing substantial returns to its partner, the private equity firm Chicago Atlantic Group.
Despite warnings from industry experts and even the state’s own cannabis agency, the deal that state officials pushed through may be devastating for dispensary licensees impacted by former drug laws — the very people the state aimed to help.
“The state is taking on all of the risk,” said Rachael Fauss, a senior policy advisor with Reinvent Albany, a government watchdog group. “The private entity here is the one benefiting the most.”
Read more about the deal here.
Weather scoop by New York Metro Weather
Wednesday’s Weather Rating: 7/10. A cold front approaches the area today with clouds and periods of scattered showers. It’ll clear out this afternoon though, with blustery winds and temps in the mid-60s. The vibes are all right!
Our Other Top Stories
- In spite of scores of arrests and days of crackdowns, student protests are ongoing at Columbia University and New York University in support of Gaza. At NYU, police tore down an encampment on Monday night, and officers in riot gear arrested 120 students and faculty, charging the majority with trespassing. At Columbia, an encampment continued into its seventh day, with administrators struggling to maintain control of the campus; last Thursday administrators called in the NYPD to break up the encampment and police arrested more than 100 demonstrators.
- The Adams administration is spiritedly defending Randy Mastro, a former deputy mayor for Rudy Giuliani, as its likely choice for the city’s top lawyer — even as the City Council says its members won’t give the required approval. The job is the top position for the office that represents the city, the mayor, the City Council and multiple agencies in litigation. It is currently held by Judge Sylvia Hinds-Radix, who is allegedly being pushed out for criticizing the mayor’s choice to have the city represent him in a sexual assault lawsuit.
Reporter’s Notebook
Forest Hills Noise Order
Neighbors of Forest Hills Stadium may finally get some relief from loud concert noises that’s bothered them for years. The West Side Tennis Club, which has leased the Forest Hills venue to Tiebreaker Productions until 2034, must now obtain a permit from the police department to use sound amplification devices for concerts at the stadium, Supreme Court Justice Joseph Esposito ruled in an injunction on Monday. He made the ruling in a case brought by the Forest Hills Gardens Corporation, an association representing about 900 property owners in the area. The order also required the stadium’s noise levels be monitored by an independent organization.
In his order, Esposito cited that an expert had “concluded that the noise complained of was approximately 100 times the legal limit for the residential neighborhood” and that playing music at those levels were not a “necessary part of the stadium’s operation and income.” The stadium is currently implementing new sound mitigation measures, which is expected to be completed by May, when the first concert at the stadium for the 2024 season is slated to take place, according to correspondences with city agencies reviewed by the court.
— Haidee Chu
Things To Do
Here’s what’s going on around the city this week.
- Wednesday, April 24 through Friday, April 26: Spring Break! Family Activities, a daily roster of activities and workshops for children and families. Times vary; registration recommended. Free with admission at the Museum of the City of New York.
- Wednesday, April 24 through Tuesday, April 30: Spring Break in Prospect Park, a variety of family-friendly nature activities. Free from 12 to 5 p.m. at the Prospect Park Audubon Center.
- Friday, April 26 and Saturday, April 27: The 12th Annual Black Comic Book Festival, an event featuring panel discussions, workshops and cosplay showcases to celebrate Black comic books and graphic novels. Free from 11 a.m. to 6:30 p.m. on Friday, and 10 a.m. to 6 p.m. on Saturday, at the Schomburg Center for Research in Black Culture in Harlem.
THE KICKER: It’s now officially Open Streets season in the boroughs.
Thanks, as always, for reading. Make it a great Wednesday.
Love,
THE CITY
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