NYC Mayor Eric Adams returns more than $800,000 to donors after canceled inauguration
The mayor's transition committee failed to spend all of the nearly $2 million it raised for the postponed inauguration by its deadline.
New York City Mayor Eric Adams has returned over $800,000 in funds meant to be used on his postponed inauguration ceremony because he ran out of time to spend the cash, according to a report in the New York Post.
The mayor's transition team raised just under $2 million in two months for his January inauguration that was initially scheduled to be held at the Brooklyn Kings Theater. The ceremony was postponed due to surging COVID-19 case numbers.
April 30 was the date by which the mayor had to spend the money, of which he wound up spending more than $1.1 million. He ultimately rescheduled the Kings Theater appearance as part of his executive budget address held April 26.
According to City and State, the mayor will refund the $800,000 to 246 donors, including billionaire owner of the New York Mets Steve Cohen, Tyler Winklevoss of Gemini and Facebook-drama fame, and David Loeb, a billionaire hedge-funder who has been courting Adams to become more involved with a push toward more charter schools.
Each donated the maximum amount of $5,100, though it is unclear how the transition committee determined whose money was spent and whose was not.