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February 27, 2004

NYC sets price for West Side MTA land: bupkis

Field of Schemes
By Neil deMause

When last asked how much New York City planned to pay the state-run Metropolitan Transportation Authority for development rights to the West Side rail yards where a new Jets/Olympics stadium would be built, deputy mayor Dan Doctoroff replied: "We need to work out a deal with the MTA for those." Today Deputy Dan's initial offer was revealed: How about, umm, nothing? As reported in Newsday, the city considers its plan to extend the #7 subway line to the new stadium a "land swap" for the MTA development rights, valued at an estimated $1.7 billion; as one unnamed state official put it: "They're getting a subway line for free."

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Posted by lumi at February 27, 2004 8:26 AM