Menin on grocery pricing model and basket of goods

How much are the groceries going to cost?

Well, the grocery, you mean in terms of the discount?

Yeah.

Okay, so how we're doing this is that we're going to, in the summer, we're going to put out an RFI for a third-party operator, city grocery operator.

And through that structure, they're going to be operating the grocery store like a normal grocery store.

And we're going to have in that RFI.

A core basket of goods that will be discounted.

What we're offering the operator is the city paying the tenant fit out.

So the substantial cost of the grocery operator would normally have to pay.

They are not going to have to pay rent and then

Property tax.

So we're going to ensure that that subsidy directly goes to the food affordability of those core baskets.

And then we're going to work out all the details.

Once the RFE comes out, you'll see some of the details.

And then ongoing negotiations with the city operator.

It might be one.

It might be multiple.

A couple questions.

So what are the basket of goods that will be covered?

What's included in that?

So we're still working that out, but the focus is fresh, healthy foods and everyday groceries.

So think bread, milk, meat, chicken, eggs.

And how...

Produce.

Given that...

I understand the concept of they're going to not have to pay rent and there'll be reduced costs, but that given that they're not going to be able to volume purchase, which other grocery stores are able to, how will these

government-run stores be able to drive the cost down in that regard, on the purchasing side?

So these are going to be third-party operators that already have grocery stores that they run.

So whatever model that they have to operate, they will still be operating through that model.

It's not going to be like a separate model.

Understood.

And then how many New Yorkers will they be able to reach?

Like, in other words, the Hunts Point and the La Maricata site, what does EDC's projections say in terms of the reach of each of the respective stores?

I'm sorry, can you say that, Council?

Yes, yeah.

So for the Hunts Point and the La Maricata site, what is the...

the reach that EDC is estimating.

I mean, how many New Yorkers are going to be able to shop there, purchase a basket of good, like what is the actual reach?

Yeah, we're not gonna limit it.

It's going to be like a regular grocery store so people can come and shop.

And so it'll be people for the neighborhood, but people who are coming from other places as well.

We want to increase the foot traffic because as you said, you know, we want the neighborhood to thrive through the,

New York City grocery store being located there.