Wednesday, October 10, 2007

"Yanks Get New Garages After All" The Real Estate 10/10/7

Click the title to get the original post, but here's a taste:

"The lease—which will say just how much (or little) the city is going to make from letting a private operator build and run garages on its land—is still not complete, however, nor is the feasibility analysis, which will show just how well these garages will do financially and if they will be able to sustain themselves.

“It has redefined putting the cart before the horse,” said Bettina Damiani, project director of Good Jobs New York and a critic of the deal. “Details of the lease and feasibility of the project should always come first. It is more than disappointing to say that the board pretty much waved this through today without any serious debate.”


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