NEW YORK – Organizers of the 2004 Republican National Convention (search) in New York City say they have collected nearly all of the $60 million they had agreed to raise, according to a newspaper report.
After tapping some of the city's wealthiest residents, the New York City Host Committee is ahead of its fund-raising schedule and just $4 million short of its target, The New York Times reported in Thursday editions.
The convention is expected to cost $91 million, and the host committee agreed to raise $64 million for construction, decorating, transportation and to rent Madison Square Garden, the Times said.
The city said it would cover an additional $27 million in security and emergency costs and insurance, according to an agreement with the Republican National Committee that was released to the Times under a Freedom of Information Act (search) request.
David Rockefeller, Sanford Weill of Citigroup, real estate magnate William Rudin and Jonathan Tisch of Loews Hotels are among the contributors to the event, each pledging several million dollars of their personal money or from their companies or associates.
Mayor Michael Bloomberg (search) pledged $5 million of his own money, according to the Times.
"I tried to get both conventions to come to New York, and we could have raised the money for both of them in the same period very easily," Bloomberg said.
New York City beat out Tampa and New Orleans in the competition to host the event, which is scheduled for Aug. 30 to Sept. 2, 2004.