NYC

The “Naivety” of NYC’s RFP for 5 Publicly Funded, Private Operated Grocery Stores

TPR excerpts here the New York City Economic Development Corporation’s RFP issued July 27 which seeks operators for N.Y.C.— five publicly funded, privately operated grocery stores, one per borough, by 2029. NYCEDC will fund and deliver turnkey fit-out, cover rent and property taxes across a term of at least ten years. NYCEDC will retain ownership of the store brand; selected operators will merchandise and staff the stores and sell a designated "Core Basket" of produce, meat, seafood, and essential groceries at prices averaging 30 percent below retail, supported by negotiated "Affordability Payments" underwriting the resulting operating deficits. Restaurant insider Nick Kokonas’ online analysis of the RFP is also included and follows.