OTHER PEOPLE’S MONEY: Mamdani’s government grocery stores plan is based on an accounting error.

Here are the hard numbers: All in all, the city has given up about $30 million in tax revenue through this program. In the last six years, since FRESH got into full swing, the program has reduced revenue by about $20 million total, according to the city’s estimates. That is, it costs an average of $3.3 million per year. So, this program would take 42 years to cost the city the $140 million that Mamdani says “the city is set to spend” on it.

So why does Mamdani use that $140 million number?

He misread the city’s webpage.

The city’s Economic Development Corporation estimates that grocery stores have invested $140 million of their own money thanks to the FRESH program. Mamdani is counting the $140 million in private spending as government spending.

He’ll certainly try to make it into government spending.