City Doles Out Historic Sum Of Taxpayer-Funded Campaign Cash

The New York City Campaign Finance Board released more than $37 million in matching funds to candidates in the races for mayor, comptroller, borough president, and New York City Council to date, representing the largest amount ever doled out in CFB history. Much of that was driven by the sheer number of candidates in these races, with more than 400 people opening campaigns, but also by the CFB’s 8-to-1 matching funds program that stretches funds from small-time donors, weakening the might of political action committees (a.k.a. dark money).

On Tuesday, the CFB met to announce its disbursement of funds at a public meeting after staffers audited financial records they obtained by campaign treasurers for the months of July 2020 to January 2021. While campaigns typically claim to have reached the threshold needed to qualify for the funds, they still must be vetted by CFB auditors to ensure candidates meet the criteria needed to qualify for taxpayer-funded help.

Here's what we learned at the hour-long meeting. (And here's the takeaway on mayoral money.)

Iscol scores cash in Comptroller’s race

In the race for New York City Comptroller, Zachary Iscol, a military veteran and founder of a nonprofit mental health provider, is now the third candidate to receive matching funds from the city’s campaign finance board for a payout of $1.4 million announced Tuesday. Candidates had to raise $125,000 from 500 donors in order to qualify for matching city funds, and it’s yet another crowded race with ten candidates registered (and outgoing City Council Speaker Corey Johnson potentially jumping in, according to the NY Times). Councilmember Brad Lander and state Senator Brian Benjamin had already qualified for matching city funds. Several other candidates have not yet made the cutoff, including state Senator Kevin Parker and state Assemblymember David Weprin.

A spokesperson for Weprin's campaign contested the CFB's denial of matching funds, saying they'd surpassed the cut off with more than $450,000 raised and expected to qualify when the decision is reviewed.  A spokesperson for Parker's campaign, who had not yet made it past the cut off, said Senator Parker is "upbeat and optimistic about running a vigorous campaign," and expects to qualify by the March deadline.

Social conservative Democrat out-raises opponents in Bronx BP contest

Councilmember Fernado Cabrera received the highest disbursement of funds in the race for Bronx Borough President, suggesting broad support for the longtime legislator who pegs himself a conservative Democrat. The CFB announced Cabrera received $520,047, out-raising fellow colleague and rival Councilmember Vanessa Gibson, who now has $249,113. Other contenders in the race to succeed term-limited Ruben Diaz Jr. include Assemblymember Nathalia Fernandez, state Senator Luis Sepulveda, and Samuel Ravelo, who did not qualify for matching funds.

In securing the funds, Cabrera remains the top fundraiser in the race, making him frontrunner while also adding to the campaign kitty that he so far hasn’t touched.

11th & 15th Special Elections Are Surely Competitive

The CFB disbursement of funds confirmed that the winner of the 11th and 15th Council Districts special election seat, representing different portions of the Bronx, is anyone’s guess given the roughly same amount of funds the top candidates have received.

In the 11th Council District race sparked by the prior seat-holder, Andy Cohen, stepping down for a judgeship, Eric Dinowitz pulled in $135,327, followed by Mino Lora with $116,987, and Daniel Padernacht with $117,217.

The race for the 15th Council District—left vacant by Ritchie Torres after becoming a member of the House of Representatives—arguably more competitive than the 11th Council District special election, with Ischia Bravo awarded $135,375 in matching funds, Elisa Crespo with $135,351, Oswald Feliz bringing in $135,375, Lakshmi Gopla with $69,274, and John Sanchez with $135,375.

The special election winners may want to hold off on celebrating a March 23rd victory, as they will have to face their rivals again for the June 23rd primary.

In Rematch, Grassroots Candidate Get Boost Over Establishment Candidate

In the race for the Bronx's 13th Council District, challenger Marjorie Velazquez's fortunes climbed after the CFB announced her receiving $159,494, the only candidate in the race against Mark Gjonaj to qualify for funds. Gjonaj, who declined to participate in the matching funds program when he won his seat in 2017, once again declined to take part in the program. This technically gives Velazquez a competitive edge over Gjonaj, who currently has $128,492 in the bank after raising $574,617.

The 13th Council District race represents a rematch of sorts as Velazquez unsuccessfully ran for the seat that had been left vacant by former Councilmember James Vacca, who went on to endorse Velazquez for the seat. Gjonaj won the seat following the race deemed the costliest ever for a Council seat.

Top Brooklyn Borough President Candidates All Qualify For Public Funds

City councilman Robert Cornegy Jr. received $576,507 in public funds, the most of any candidate in the race. To qualify for public funds, candidates needed to raise a minimum of $50,094 from at least 100 donors who live in the borough. While Cornegy has raised the most of any candidate, he’s also spent the most. Prior to the infusion of public funds, his balance sheet was showing less than $12,000. Khari Edwards, a hospital executive, Antonio Reynoso, a city councilman, and Jo Anne Simon, a state Assemblymember, also received public funds that ranged from $462,000 to $491,000. Reynoso is the candidate with the largest number of small donors. Cornegy has the most contributions from donors who gave $1,000 or more, including a donation from a police union PAC. The candidates are competing to replace Eric Adams, a Mayoral frontrunner.