Keeping track of all the schemes regional leaders dream up to fritter away our proverbial hard-earned can be a damn exhausting endeavor. What with the beautiful weather, who wants to give up their weekend trolling the internets for the skinny? Not you, and not really me either. But I made my bed, so now I must sleep in it:
Giants Stadium Status: It’s a donedeal. Last week, the NJSEA and the team put aside their differences and realized how much they love each other after all. That, and the realization that there wasn’t anyone else left to go home with. Call it a sympathy lay.
Stats: $185 million in (existing) debt service and infrastructure improvements in exchange for $6.3 million yearly PILOTs and permission to move ahead with the Xanadu entertainment complex. Lawsuit? No word, but it’s a good bet that the squabbling from a few weeks ago has been put aside.
Winners: The team owners. It’s always the team owners.
Losers: A tie between the state, which made barely a break even deal on a property that had a solid 15-year lease in place, and the fans, who got only a tepid ‘maybe’ in response to the request that the new stadium not charge current season ticket holders PSLs (Personal Seat Licenses).
Stats: The final numbers aren’t in, but you can bet it will end up costing you, me, and the lamppost a pretty penny. Lawsuit? The suit filed by Cablevision shortly after they found out that offering the most money did not constitute a winning bid has a hearing on May 3. But folks aren’t resting easy in the interim, electing to bat each other around with the EIS — which, at 7,000-plus pages, is quite a weapon.
Winners: None yet, but it pains me to say it’s looking good for the stadium.
Yankee Stadium Status: Ha ha — you forgot all about everyone’s favorite convicted felon-cum-owner. Guiliani moved on to shaking down charities raising money for tsunami relief, and everyone forgets that his big stadium albatross was a new home for the Yankees. While the carpetbagging Johnson family was providing such a distraction, the Boss went and finagled hisself a pretty sweet deal.
Stats: Another one of those “private” financing deals that includes $300 million in infrastructure (when this deal was first announced, it was only going to be $100 million) from the city and state, including parking and a Metro North station. Lawsuit? Maybe we can get the Dolans and Steinbrenner to revive one of their greatest hits.
West Side Tunnel Status: Pataki painted himself the knight in shining armor last week, seeming to step in and an prevent the loss of the only viable private commercial development downtown. Which is interesting, since last year he was all about leaving the decision to the locals, who mostly rejected the plan. So he saved us from ourselves, or something.
Stats: Frees up about $500 million in rebuilding funds, or saves us from finding an additional $500 million. Either way, it seems Pataki wants the $500 million to be reallocated, indulgence-like, to the JFK rail link (or, as I like to call it, the Long Island Republican Base Express) Winners: Henry Paulson and Goldman Sachs, who are playing their cards very close, or simply being decent and waiting a week or more to announce they are indeed moving ahead with their plans and avoiding making clear that when GS wants to put the screws to somebody, they do it right.
Losers: Lovers of high-speed subterrean vehicular improvements.
7WTC: [Sound of crickets, tumbleweeds, aroma of desperation]
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White Elephant Roundup.
Keeping track of all the schemes regional leaders dream up to fritter away our proverbial hard-earned can be a damn exhausting endeavor. What with the beautiful weather, who wants to give up their weekend trolling the internets for the skinny? Not you, and not really me either. But I made my bed, so now I must sleep in it:
Giants Stadium
Status: It’s a done deal. Last week, the NJSEA and the team put aside their differences and realized how much they love each other after all. That, and the realization that there wasn’t anyone else left to go home with. Call it a sympathy lay.
Stats: $185 million in (existing) debt service and infrastructure improvements in exchange for $6.3 million yearly PILOTs and permission to move ahead with the Xanadu entertainment complex.
Lawsuit? No word, but it’s a good bet that the squabbling from a few weeks ago has been put aside.
Winners: The team owners. It’s always the team owners.
Losers: A tie between the state, which made barely a break even deal on a property that had a solid 15-year lease in place, and the fans, who got only a tepid ‘maybe’ in response to the request that the new stadium not charge current season ticket holders PSLs (Personal Seat Licenses).
Westside Stadium
Status: The ESDC gave the thumbs up to the Jets bid last week, surprising no one who can use a dictionary.
Stats: The final numbers aren’t in, but you can bet it will end up costing you, me, and the lamppost a pretty penny.
Lawsuit? The suit filed by Cablevision shortly after they found out that offering the most money did not constitute a winning bid has a hearing on May 3. But folks aren’t resting easy in the interim, electing to bat each other around with the EIS — which, at 7,000-plus pages, is quite a weapon.
Winners: None yet, but it pains me to say it’s looking good for the stadium.
Losers: Anyone who can’t get their K-Y free.
Yankee Stadium
Status: Ha ha — you forgot all about everyone’s favorite convicted felon-cum-owner. Guiliani moved on to shaking down charities raising money for tsunami relief, and everyone forgets that his big stadium albatross was a new home for the Yankees. While the carpetbagging Johnson family was providing such a distraction, the Boss went and finagled hisself a pretty sweet deal.
Stats: Another one of those “private” financing deals that includes $300 million in infrastructure (when this deal was first announced, it was only going to be $100 million) from the city and state, including parking and a Metro North station.
Lawsuit? Maybe we can get the Dolans and Steinbrenner to revive one of their greatest hits.
Winners: As of this week, it certainly isn’t the Yankees.
Losers: A-Rod.
West Side Tunnel
Status: Pataki painted himself the knight in shining armor last week, seeming to step in and an prevent the loss of the only viable private commercial development downtown. Which is interesting, since last year he was all about leaving the decision to the locals, who mostly rejected the plan. So he saved us from ourselves, or something.
Stats: Frees up about $500 million in rebuilding funds, or saves us from finding an additional $500 million. Either way, it seems Pataki wants the $500 million to be reallocated, indulgence-like, to the JFK rail link (or, as I like to call it, the Long Island Republican Base Express)
Winners: Henry Paulson and Goldman Sachs, who are playing their cards very close, or simply being decent and waiting a week or more to announce they are indeed moving ahead with their plans and avoiding making clear that when GS wants to put the screws to somebody, they do it right.
Losers: Lovers of high-speed subterrean vehicular improvements.
7WTC: [Sound of crickets, tumbleweeds, aroma of desperation]