To the Editor:
In the February 4 issue of The WIRE, I was quoted as saying, “RIOC’s budget is entirely generated from the ground leases.” This is not the quote I provided, nor is it so. The quote I provided to RICC, as an election statement prior to my reelection as a RICC director, stated, “…every dime RIOC spends is generated here on Roosevelt Island, primarily from the ground leases that come from our rents and common charges. The only exception I am aware of was the $15M from New York State, that combined with the RIOC capital budget amount to pay for the new Tram.” Of course, Tram fees, commercial rents, organizational uses of public space, movie shoots, and playing field fees also contribute to RIOC revenue.
Matthew Katz, RICC