NJ Spotlight News
Could Jersey City's Pompidou museum project lose funding?
Clip: 4/29/2024 | 4m 21sVideo has Closed Captions
State questions if the iconic French museum can sustain itself long term in Journal Square
On Friday, the New Jersey Economic Development Authority warned the Jersey City Redevelopment Agency that it may pull funding for the city’s Centre Pompidou X Jersey City project, unless the city figures out its financial situation.
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NJ Spotlight News is a local public television program presented by THIRTEEN PBS
NJ Spotlight News
Could Jersey City's Pompidou museum project lose funding?
Clip: 4/29/2024 | 4m 21sVideo has Closed Captions
On Friday, the New Jersey Economic Development Authority warned the Jersey City Redevelopment Agency that it may pull funding for the city’s Centre Pompidou X Jersey City project, unless the city figures out its financial situation.
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Learn Moreabout PBS online sponsorshipin our Spotlight on Business Report could a political Fallout spell the end for Jersey City's controversial French Art Museum project well that's the claim from mayor Steve fup who says all systems were go with the state for the last couple of years with promised funding and Partnerships to create New Jersey's version of the famous santra Padu but flip says the Murphy Administration pulled support for the museum shortly after he pulled his endorsement for the first ladyes failed Senate campaign so is it political retaliation or just bad timing senior political correspondent David Cruz reports it wasn't that long ago that Governor Phil and first lady Tammy Murphy were singing the Praises of the pomad do Center project and their friend Jersey city mayor and now gubernatorial candidate Steve FIP bour Mam and m i congratulate SRO pomu especially its president Ser Lavin and my dear friend Jersey city mayor Steve flip on this extraordinary announcement this week the ambitious project is facing zero funding from the state which could mean the end of a project that FIP once called transformational why well the mayor says things changed last month after he made these comments I do feel that the campaign has really not made a compelling case around her candidacy I mean if I'm being honest and fair Philip withdrew his endorsement of then Senate candidate Tammy Murphy officially a couple of days later last Friday says the mayor came the retaliation this letter from Economic Development Authority CEO Tim Sullivan we kindly request an updated revenue and expense model for the project that rectifies the annual operating deficit otherwise we will have to consider whether it is more prudent for the state to use these funds for for other fiscal priorities $58 million of State subsidy that's one thing for a project Sullivan called cool but an annual operating deficit the Eda says will be around $19 million is not cool especially with a nine fig price tag just to open the doors which is you know a lot of money but for a world- class Arts facility that that could be worth it uh the question is you know could it support itself long term as recently as December we had a really constructive and positive or constructive and Frank meeting U was positive as well but which we were pretty clear we couldn't release the funding that that we're responsible for until we saw a few things one was a balanced set of sources and uses uh meaning could you you know find enough money to spend it to build the building you want to build what's the economic impact is it worth whatever that that that money is and also what are the revenues and expenses to keep this thing going Philip says the Eda has seen all the numbers from the very beginning the only thing that has changed is my relationship with with the front office meaning that I've been more critical of lines of Tammy Murphy's candidacy and uh the direction of the Murphy Administration and their tone changed as well regarding this project directly related to my tone changing on their Administration but quotes from internal State documents from January that we were able to see suggest officials were having doubts about the Project's sustainability and whether they should start thinking about where else the $58 million could be used by the state we're going to go back to them and we're going to show them how um there is no Gap and that we are uh there's solutions for that and it's going to be put on them whether they want to proceed or not proceed Philip notes that if the state really wanted the project they could make it happen some lawmakers not only Republicans who see a great campaign issue they call a French Museum but some Democrats as well are already licking their chops at what they could do in their districts with a piece of that money regardless of the political minations that may be suddenly making them available I'm David Cruz NJ Spotlight news [Music]
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