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January 22, 2009
M.T.A. Would ‘Deal With It’ If West Side Plan Collapses
The New York Observer
By Eliot Brown
This item is primarily about a looming deadline and potential problems for the deal between the MTA and Related Companies to develop the West Side rail yards in Manhattan. The financial difficulties of the deal between the MTA and Forest City Ratner for the Vanderbilt Yards also receives a mention.
The M.T.A. is also in negotiations with developer Forest City Ratner, which wants to change the terms of its payments to the agency as part of its planned Atlantic Yards development in Brooklyn. Should that project collapse, the M.T.A. would not get an expected $100 million in payments from Forest City.
Posted by steve at January 22, 2009 6:24 AM