By Adam Kramer
The four Democratic candidates for mayor have each raised close to $4 million or more in their bids to become the mayor of New York City led by City Comptroller Alan Hevesi, filings with the Campaign Finance Board show.
Hevesi, who lives in Forest Hills, leads the pack with $7,066,208 in contributions to his campaign. He is followed by Public Advocate Mark Green of Manhattan with $5,196,562; City Council Speaker Peter Vallone (D-Astoria) with $4,359,826; and Bronx Borough President Fernando Ferrer with $3,936,336.
On the Republican ticket former U.S. Rep. Herman Badillo from the Bronx has raised only $215,635 in his bid to defeat media mogul and Manhattan billionaire Michael Bloomberg, who is financing his own campaign.
The candidates’ financial information covers campaign contributions and expenditures up through July 11.
Eleven other candidates have filed with the Campaign Finance Board but have not raised or spent any money in their bids for the keys to Gracie Mansion.
Any candidate who wanted to participate in the 4-to-1 campaign matching funds program had to file his paper work with the Campaign Finance Board by the June 1 deadline. The city will match contributions up to $250 from city residents. This means that for a $250 contribution a candidate will receive $1,000 from the city.
The maximum contribution to any of the mayoral candidates is $4,500. The maximum amount a candidate can receive in public funds per election in an election year is $2,877,050 unless he or she is running against a candidate who has chosen not to receive public funds and is not abiding by the spending cap of $5,231,000. Then the public funds cap is $3,487,333.
As of the last filing period, Hevesi claimed $825,424 of his campaign money was eligible for the matching funds, which equals $3,301,696, giving him a grand total of $10,367,904. Green had $696,597 in matching claims of $2,786,380, or a total of $7,982,870. Vallone claimed $631,719 in matching funds for contributions of $2,526,876, which works out to $6,886,702. Ferrer had $685,918 in matching claims, which equals $2,743,672 in matching funds and totals $6,680,008.
Bloomberg’s financial data is not available because he is paying for his campaign out of his pocket. His Republican rival, Badillo, has claimed $44,230 in matching funds, which equals $176,920 for a total of $392,555.
In the race for the Democratic Party nod, Hevesi has spent the most at $2,262,027. He was followed by Ferrer at $1,892,467. Green laid out $1,660,927 and Vallone spent $1,439,153, according to the Campaign Finance Board.
Bloomberg has spent $7,190,301 on his campaign, which is slightly less than the total expenditures of the five other candidates. Fellow Republican Badillo has outlays totaling $184,674 for his campaign.
According to a statement from the Campaign Finance Board, the matching funds program was implemented to make candidates and the elected officials “more responsive” to city residents rather than special interest groups and to give candidates without the ability to raise big dollars a fighting chance.
The program was also designed to lessen the influence of campaign contributors on the candidates, level the playing field and make the information on the candidates’ finances accessible.
Reach reporter Adam Kramer by e-mail at Timesledgr@aol.com or call 229-0300, Ext. 157.
