The New York City Economic Development Corporation (NYCEDC) has issued a Request for Proposals (RFP) to identify qualified Fund Administrators to manage three community-centered funds, according to a press release.
The funds are the Manhattan Cruise Terminal Community Fund (MCTCF), the Brooklyn Cruise Terminal Community Fund (BCTCF) and the Sunset Park Special Purpose Project Fund (SPPF).
According to the press release, these funds are designed to support projects, such as environmental stewardship, public realm improvements, and workforce development initiatives, in the Hell’s Kitchen, Sunset Park, and Red Hook neighborhoods of New York City.
The selected Fund Administrators will be responsible for leading transparent project solicitation and selection processes, overseeing disbursement, and implementing monitoring and evaluation frameworks in collaboration with local stakeholders.
The MCTCF and BCTCF are financed through a $ 1-per-passenger fee collected from cruise lines operating under exclusive berthing agreements.
The SPPF is funded through a 5% set-aside of the annual gross rent derived from subleases at the South Brooklyn Marine Terminal (SBMT).
NYCEDC anticipates the following fund totals by the end of calendar year 2025:
- MCTCF: Approximately $1.3 million in total funds, with disbursement amounts expected to range between $400,000 and $700,000 annually
- BCTCF: $630,000 in total funds, and
- SPPF: Approximately $860,000 in total funds.
NYCEDC will accept proposals from a variety of institutions, including nonprofit organizations, community foundations, certified Community Development Financial Institutions (CDFIs), and independent consultants with relevant history.
