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Adams refunds $800K for postponed inauguration ceremony


Mayor Eric Adams returned over $800 thousand in cash raised for his postponed inauguration ceremony because he didn’t spend all the funds in time, according to the New York City Board of Elections.

Adams’ transition team raised $1,944,437.14 for his Jan. 1 inauguration that was supposed to be held at the Kings Theater in Brooklyn. The event was postponed thanks to a surge in the Omicron variant.

He was then given until April 30 to spend the money. He ended up spending just over $1.1 million, rescheduling the King’s Theater ceremony as part of his executive budget address.

The refunds were first reported by City and State.

He had until April 30 to spend the funds, with a filing deadline of Friday, May 6. But because he spent just over $1.1 million by the BOE’s deadline he gave back $800,236 to 246 donors, according to online records.

Refund recipients include Mets owner Steve Cohen, political consultant Stu Loeser, Adams’ New York City’s Commissioner for International Affairs Ed Mermelstein, co-founder of the cryptocurrency platform Gemini, Tyler Winklevoss and pro-charter school, hedge fund billionaire David Loeb — who all got back $5,100 in contributions.

Hedge fund manager Steven A. Cohen, founder and chairman of SAC Capital Advisors, listens to a question during a one-on-one interview session at the SkyBridge Alternatives (SALT) Conference in Las Vegas, Nevada May 11, 2011.
Mets owner Steve Cohen was refunded $5,100 of his donations to Adams’ inauguration ceremony.
REUTERS/Steve Marcus



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