Jets lose bid

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Jets lose bid

Post by BossHog »

MTA's decision on sale will come Thursday

The New York Jets were outbid by Cablevision in their attempt to buy the Metropolitan Transportation Authority's rail yards and build a stadium on Manhattan's West Side.

The MTA released documents Monday detailing the bids by three groups. A bid by Cablevision of $760 million includes $400 million in cash up front and the rest in a promise to construct a platform over the rail yards.

The Jets countered with a bid of $720 million, including at least $250 million in cash paid over four years. The bid does not include the platform, estimated by the Jets at $350 million, which would be paid for primarily by the state and city.


Click here for the rest of the story.
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Post by Primetime42 »

Supposedly still hope...MTA won't announce it's decision til Thursday.

It's just a very touchy situation for New Yorkers.
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Post by welch »

Not dead yet, unfortunately.

From the Times:

M.T.A. Board Preparing to Vote on West Side Railyard's Buyer
By SEWELL CHAN and WINNIE HU

Published: March 30, 2005

Members of the Metropolitan Transportation Authority's board began preparing yesterday for one of the most contentious decisions the board has faced in recent years: who should buy the authority's West Side railyard.

One board member, James S. Simpson, who represents Gov. George E. Pataki, said that in the vote tomorrow he would support a proposal by the Jets to build a football stadium and convention center on the site, calling it "a much better deal for the city and the state" than the two other bids.

Cablevision, the stadium's most ardent opponent, has proposed a residential development. Another bidder, TransGas Energy, has made an offer contingent on the authority's purchase of energy from the company.

The 14 votes on the board are cast by six representatives of the governor; four representatives of Mayor Michael R. Bloomberg; one each from Nassau, Suffolk and Westchester Counties; and four representatives of Dutchess, Orange, Putnam and Rockland Counties who share one vote.

Mayor Bloomberg's representatives - including his budget director, Mark Page, and his operations director, Susan L. Kupferman - are all but certain to vote for the Jets. The mayor's office plans to announce today how the four will vote, board members said.

Less certain are the six votes controlled by Mr. Pataki's representatives, particularly that of the board chairman, Peter S. Kalikow. Mr. Kalikow surprised Mr. Bloomberg and other board members last month when he ended one-on-one talks with the Jets and opened the sale to other bidders.


at http://www.nytimes.com/2005/03/30/nyreg ... adium.html?

The Times article yesterday broke down the money in the bids: it appears tha the Jets are only putting up $200 million in guaranteed money. The rest is contingent money from real-estate developers, who will pitch in "if" this and that happens.

The Cablevision offer looks better, but nothing is certain.

Oh: details show that the revised stadium will cost $2 billion, making it the most expensive stadium ever built for any sport.

$2 billion
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Post by Redskins Rule »

$2 billion!!!! Geez, The Jets must really want this!
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Post by BossHog »

Redskins Rule wrote:$2 billion!!!! Geez, The Jets must really want this!


Actually, it would appear that they don't quite want it enough... :wink:

How can a stadium not be monumentally expensive when you're talking about $750M just for the land?

It may not be a done deal, but I certainly don't see anything in the Jets bid that would make them a contender... they under bid AND there's less up front money.

On a side note, while you have to take into account the nearly 10 years that have passed since, it only cost JKC about $180M total to build JKC Stadium(Fedex)... and then another $70M for the parking lot and roads... so $250M total.
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Post by SkinsJock »

Not to go off topic too far but what was the estimate for a "roof/cover" for FedEx? And was this also going to be removable/retractable?

I would agree with Boss, welch - these Dolan boys are looking pretty good here and I think the Jets and the NFL are going to see that this is getting to be too much. You never can tell with all this TV money that's coming up though. Just look at what Jerry paid for the pukes and what that deal is worth today! We all thought that was a lot!
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Post by welch »

It may not be a done deal, but I certainly don't see anything in the Jets bid that would make them a contender... they under bid AND there's less up front money.


The sneaky part is that the MTA is not required to take the best bid.

It comes down to the Pataki-appointed members of the board, and it is not clear, as of when I looked last, which way the Governor wanted them to vote.

If the world ran sensibly, the Jets would lose, New York would save its money on the OLympics, and...I could go on...

*

I, too, have kept in mind the cost of JKC Stadium. The Yankees and Mets have been campaigning for new ball fields...most recent price was about $500 million each. The Giants also want a new stadium ("If the Jets can have one, why can't we?"). Staggering. In the mail today was a fundraiser ("Dream Raffle 2005") for the New York Public Library. Life is weird.
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Post by Primetime42 »

welch wrote:
It may not be a done deal, but I certainly don't see anything in the Jets bid that would make them a contender... they under bid AND there's less up front money.


The sneaky part is that the MTA is not required to take the best bid.

It comes down to the Pataki-appointed members of the board, and it is not clear, as of when I looked last, which way the Governor wanted them to vote.

If the world ran sensibly, the Jets would lose, New York would save its money on the OLympics, and...I could go on...

*

I, too, have kept in mind the cost of JKC Stadium. The Yankees and Mets have been campaigning for new ball fields...most recent price was about $500 million each. The Giants also want a new stadium ("If the Jets can have one, why can't we?"). Staggering. In the mail today was a fundraiser ("Dream Raffle 2005") for the New York Public Library. Life is weird.
Keep in mind if Rudy still ran the show, all three stadiums would be on their way up by now. :wink:
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Post by washington53 »

Well i think its not going to work out. HOPEFULLY.
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Post by welch »

NY Times is predicting (as of 10:30 pm Wednesday) that the Jets will win the bid.

March 31, 2005
M.T.A. Expected to Approve Jets' $720 Million Plan for Stadium
By CHARLES V. BAGLI and SEWELL CHAN

The chairman of the Metropolitan Transportation Authority has thrown his support behind the Jets' $720 million bid for the rights to build a stadium over its railyards on the West Side of Manhattan, all but assuring that the authority's board will approve a sale to the team at its meeting this morning, according to two people who spoke yesterday with the chairman, Peter S. Kalikow.


http://www.nytimes.com/2005/03/31/nyreg ... r=homepage


And some backgropund on the decision criteria:

March 31, 2005
Highest Offer, or Not? The Choice Is Complex
By SEWELL CHAN and CHARLES V. BAGLI

Over four decades, the Metropolitan Transportation Authority has faced down crippling subway strikes, riders infuriated by fare increases, tumultuous labor negotiations and complex sales of property like the Coliseum on Columbus Circle, where the Time Warner Center now stands.

But arguably no other issue has thrust the authority into so emotional and politicized a dispute as the debate over the future of the West Side railyards.

As the authority's board prepared to approve the sale of the 13-acre property to the Jets to build a football stadium, several observers who are not involved in the dispute said yesterday that the board was in a difficult, perhaps impossible, situation.

The board is legally the custodian of the transit network in New York City and its suburbs, but precisely what that mandate means is unclear. Should the board simply accept the highest offer? Or may it consider other factors, like redevelopment of the Far West Side and the good will of Mayor Michael R. Bloomberg, the stadium's most prominent champion?

"Fundamentally, a public authority must be guided by its legislative mandate and its charter, but in general, it will be permitted to take a broad account of the public interest," Harvey J. Goldschmid, a Columbia University law professor, said in an interview. "The decision-making process includes more than profitability; it may also take account of public need."


http://www.nytimes.com/2005/03/31/nyregion/31mta.html

:x Grumble :x

Oh, and I forgot to mention that the Jets expect the City and the State put up $300 million each.
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Post by Primetime42 »

welch wrote:NY Times is predicting (as of 10:30 pm Wednesday) that the Jets will win the bid.

March 31, 2005
M.T.A. Expected to Approve Jets' $720 Million Plan for Stadium
By CHARLES V. BAGLI and SEWELL CHAN

The chairman of the Metropolitan Transportation Authority has thrown his support behind the Jets' $720 million bid for the rights to build a stadium over its railyards on the West Side of Manhattan, all but assuring that the authority's board will approve a sale to the team at its meeting this morning, according to two people who spoke yesterday with the chairman, Peter S. Kalikow.


http://www.nytimes.com/2005/03/31/nyreg ... r=homepage


And some backgropund on the decision criteria:

March 31, 2005
Highest Offer, or Not? The Choice Is Complex
By SEWELL CHAN and CHARLES V. BAGLI

Over four decades, the Metropolitan Transportation Authority has faced down crippling subway strikes, riders infuriated by fare increases, tumultuous labor negotiations and complex sales of property like the Coliseum on Columbus Circle, where the Time Warner Center now stands.

But arguably no other issue has thrust the authority into so emotional and politicized a dispute as the debate over the future of the West Side railyards.

As the authority's board prepared to approve the sale of the 13-acre property to the Jets to build a football stadium, several observers who are not involved in the dispute said yesterday that the board was in a difficult, perhaps impossible, situation.

The board is legally the custodian of the transit network in New York City and its suburbs, but precisely what that mandate means is unclear. Should the board simply accept the highest offer? Or may it consider other factors, like redevelopment of the Far West Side and the good will of Mayor Michael R. Bloomberg, the stadium's most prominent champion?

"Fundamentally, a public authority must be guided by its legislative mandate and its charter, but in general, it will be permitted to take a broad account of the public interest," Harvey J. Goldschmid, a Columbia University law professor, said in an interview. "The decision-making process includes more than profitability; it may also take account of public need."


http://www.nytimes.com/2005/03/31/nyregion/31mta.html

:x Grumble :x

Oh, and I forgot to mention that the Jets expect the City and the State put up $300 million each.
Your tax dollars at work :D

Boy, am I glad I don't live in the city anymore :oops:
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Post by welch »

PT42 wrote
Your tax dollars at work


And yours also, eventually, PT. The Jets will take their rent money out of Giants Stadium, and the Giants will use the Jets deal to argue that the Meadlowlands Authority, backed by the State, should build them a new stadium. And so on...


This morning, the MTA chose the Jets lower bid.

M.T.A. Approves Jets' $720 Million Plan for Stadium
By SEWELL CHAN
and CHRISTINE HAUSER

The Metropolitan Transportation Authority's board today unanimously chose the Jets' $720 million bid for the rights to build a stadium over the authority's railyards on the West Side, but in a stunning show of opposition, three non-voting members spoke out against it and said they would vote to oppose it if they could.

The vote choosing the Jets' offer had been expected, after the chairman of the authority, Peter S. Kalikow, threw his support behind the team's proposal for the parcel of land on the West Side of Manhattan. The football team's plan has been championed by Mayor Michael R. Bloomberg, who sees the stadium as the centerpiece of the city's effort to lure the 2012 Olympics.

Mr. Kalikow, who has for the last several weeks declared that he and his board members were obligated to seek the best financial package for the 13-acre parcel of land, concluded that the $760 million offer by the team's rival, Cablevision, was "not credible," and was intended chiefly to thwart the Jets, according to one person who spoke with him.

Just before the vote today, Mr. Kalikow said the advantages of the Jets' offer included $250 million, potential for the transferable development rights east of 11th Avenue, an aggressive construction schedule and extension of the No. 7 subway line.

Referring to some of the criticisms aired at the public comments that preceded the vote, he said the authority could not say why there were not more bidders.

"One of the jobs we don't have as M.T.A. board members is to be mind readers," he said. "We don't know why they didn't bid", he said, adding, "We have what we have, I think it's an excellent deal."

Three non-voting members representing workers and riders spoke out against it: James S. Blair for MetroNorth, Ed Watt of the Transport Workers and Andrew Albert of the New York City Transit Riders Council.

The bids did not meet the appraised value of the site, said Mr. Albert. Mr. Blair said that the odds of the M.T.A. getting continued income needed to be improved.

Several times during the meeting Mr. Kalikow had to tell listeners to stop their outbursts.

The board voted after a sometimes raucous public comment period in which speakers raised concerns over the environment, the bidding process, and parking for thousands of spectators. Others praised the expected jobs the project would bring.

Representative Anthony D. Weiner, a Democratic candidate for mayor of New York, said that there would be lawsuits. "You're going to have to explain in court over many months and months, and perhaps years, why it is that you chose a lower bid."

City Council Speaker Gifford Miller, a mayoral candidate and a stadium opponent, said the process was not sufficiently open and solicited.

"The notion that in New York City, 13 acres of land on the Hudson River would solicit only two bids" from one party that had a deal with the mayor and another trying to stop it "is absurd and you all know it," Mr. Miller said.


The rest at:

http://www.nytimes.com/2005/03/31/nyreg ... r=homepage
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Post by Primetime42 »

welch wrote:PT42 wrote
Your tax dollars at work


And yours also, eventually, PT. The Jets will take their rent money out of Giants Stadium, and the Giants will use the Jets deal to argue that the Meadlowlands Authority, backed by the State, should build them a new stadium. And so on...


This morning, the MTA chose the Jets lower bid.

M.T.A. Approves Jets' $720 Million Plan for Stadium
By SEWELL CHAN
and CHRISTINE HAUSER

The Metropolitan Transportation Authority's board today unanimously chose the Jets' $720 million bid for the rights to build a stadium over the authority's railyards on the West Side, but in a stunning show of opposition, three non-voting members spoke out against it and said they would vote to oppose it if they could.

The vote choosing the Jets' offer had been expected, after the chairman of the authority, Peter S. Kalikow, threw his support behind the team's proposal for the parcel of land on the West Side of Manhattan. The football team's plan has been championed by Mayor Michael R. Bloomberg, who sees the stadium as the centerpiece of the city's effort to lure the 2012 Olympics.

Mr. Kalikow, who has for the last several weeks declared that he and his board members were obligated to seek the best financial package for the 13-acre parcel of land, concluded that the $760 million offer by the team's rival, Cablevision, was "not credible," and was intended chiefly to thwart the Jets, according to one person who spoke with him.

Just before the vote today, Mr. Kalikow said the advantages of the Jets' offer included $250 million, potential for the transferable development rights east of 11th Avenue, an aggressive construction schedule and extension of the No. 7 subway line.

Referring to some of the criticisms aired at the public comments that preceded the vote, he said the authority could not say why there were not more bidders.

"One of the jobs we don't have as M.T.A. board members is to be mind readers," he said. "We don't know why they didn't bid", he said, adding, "We have what we have, I think it's an excellent deal."

Three non-voting members representing workers and riders spoke out against it: James S. Blair for MetroNorth, Ed Watt of the Transport Workers and Andrew Albert of the New York City Transit Riders Council.

The bids did not meet the appraised value of the site, said Mr. Albert. Mr. Blair said that the odds of the M.T.A. getting continued income needed to be improved.

Several times during the meeting Mr. Kalikow had to tell listeners to stop their outbursts.

The board voted after a sometimes raucous public comment period in which speakers raised concerns over the environment, the bidding process, and parking for thousands of spectators. Others praised the expected jobs the project would bring.

Representative Anthony D. Weiner, a Democratic candidate for mayor of New York, said that there would be lawsuits. "You're going to have to explain in court over many months and months, and perhaps years, why it is that you chose a lower bid."

City Council Speaker Gifford Miller, a mayoral candidate and a stadium opponent, said the process was not sufficiently open and solicited.

"The notion that in New York City, 13 acres of land on the Hudson River would solicit only two bids" from one party that had a deal with the mayor and another trying to stop it "is absurd and you all know it," Mr. Miller said.


The rest at:

http://www.nytimes.com/2005/03/31/nyreg ... r=homepage
Yeah, I knew that too.

Maybe I'll be out of here by then :)
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Post by welch »

Another day...another story. This one starts slow, but gets to the real heart of several issues.

The next vote (there's always a "next vote" in these things) might be delayed until July, after the International Olympic Committee chooses a city. "The stadium game has only begun."

My eyes went "kaboggle" -- like triple "suprised" emoticons -- when Anderson began to work through the numbers, comparing the Jets Palace to the new Wembley and the re-built Soldier Field.

Jets' Schedule Is Featuring Both Politics and Paris
By DAVE ANDERSON

IN the Jets' drive for a stadium on the West Side of Manhattan, they made a first down past midfield yesterday, not a touchdown.

For those who favor the proposed stadium, the Jets aren't even near the red zone, much less the goal line. For those who oppose it, there is plenty of time for an interception by the state's Public Authorities Control Board, the International Olympic Committee, or the litigation threatened by several foes, notably Cablevision.

For all the anticipation of a 2010 Super Bowl-on-the-Hudson, the tickets have not been printed. And may never be.

Yes, the Metropolitan Transportation Authority's board has now approved the $720 million offer by the Jets and four real-estate developers for the development rights above the railroad yards from West 30th Street to West 33rd Street and from 11th to 12th Avenue, the proposed site of the retractable-roofed, 75,000-seat stadium.

But the state's Public Authorities Control Board may postpone its vote on the stadium until after the I.O.C.'s announcement July 6 in Singapore of the site for the 2012 Summer Games.

Gov. George E. Pataki is on the state board, but the two other members, Assembly Speaker Sheldon Silver and State Senate Majority Leader Joseph L. Bruno, have not only expressed doubts about the stadium, but see no need to provide state funds until after the I.O.C. vote.

If Paris is chosen for the 2012 Games, as many Olympic watchers expect, the stadium supporters, especially Mayor Michael R. Bloomberg and Deputy Mayor Daniel L. Doctoroff, would lose their most glamorous argument.

Perhaps more important, the cost of this stadium, especially to the Jets, keeps rising by the month, if not the week or the day. In the 53 weeks since the original news conference featuring Bloomberg and Pataki at the Jacob K. Javits Convention Center last year, the stadium cost has jumped from $1.4 billion to $1.7 billion and now, according to the latest estimates, to $2.2 billion.

The state and the city have each promised to contribute only $300 million for a total of $600 million for the project, leaving the Jets on the hook for $1.6 billion.

By themselves, the Jets, meaning the owner Woody Johnson, an heir to the Johnson & Johnson Band-Aid fortune, will be spending more than the entire cost of the world's most expensive stadium, the $1.4 billion Wembley Stadium near London, and more than twice as much as the recent $630 million renovation of Soldier Field in Chicago.

If the West Side stadium's cost has increased $800 million in a year, how much more will the Jets, who pledged to absorb any excess costs, be on the hook for in the years to come? How much money does Woody Johnson have? Or how much money does he and the Jets financiers believe the stadium would generate?

"I've pledged," Johnson said a year ago at that news conference, "to bring the team back to where it belongs - here in Manhattan."

Manhattan? Only original American Football League fans remember that the Jets' ancestors, the Titans, played at the Polo Grounds in Upper Manhattan from 1960 to 1962, before the Jets closed it in 1963. To most fans, the Jets belong in Queens, where they played at Shea Stadium from 1964 until departing in 1984 for Giants Stadium.

Queens, meaning somewhere in the Shea Stadium area, is where Johnson should be building a stadium that would be much less expensive and much more popular with the Jets' season-ticket holders. And a dazzling new football palace near Shea would cost less than half of the Jets' ridiculous share of the West Side stadium.

Instead, as the Jets' investment in the stadium has risen to $1.6 billion, it's more and more obvious that Johnson doesn't want the stadium for the team, the city and the fans as much as he wants it for himself and his legacy - despite the civic need elsewhere for that $600 million the city and the state would contribute.

And should the Jets get the stadium, their fans would be the first to suffer. Johnson would try to recoup with higher ticket prices, not to mention likely seat-license fees - pro football's form of legal extortion - as well as higher luxury-box prices.

For the 2005 season, Jets' tickets are $90, $80, $70 and $60, depending on the location (Giants tickets are $80 and $70). Of the 117 Giants Stadium luxury suites sold by the New Jersey Sports and Exposition Authority (including season tickets to the Giants and Jets games), 71 sell for $140,000, 26 for $165,000, 16 for $280,000, and 4 for $360,000.

How high would the Jets franchise dare price its luxury suites in a West Side stadium? And would all the luxury suites sell if the prices are too high?

But that's fodder for the future. For now, as Chad Pennington could tell Woody Johnson, the closer the Jets get to the red zone, the tougher the opposing defense gets. Watch out for a blitz by the state's Public Authorities Control Board, or a fumble recovery by the I.O.C., or an interception created by one of those lawsuits.

The stadium game has only begun.


http://www.nytimes.com/2005/04/01/sport ... erson.html
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Post by welch »

Yet another vote...

From NY Times, at:

http://www.nytimes.com/2005/06/02/nyreg ... adium.html

Board's Vote on a [Jets] Stadium Is Still in Doubt
By MICHAEL COOPER and CHARLES V. BAGLI

ALBANY, June 1 - Legislative leaders continued to express strong doubts on Wednesday about a proposal to allow the Jets to build a stadium on the West Side of Manhattan using public money, while the Pataki administration called for a vote on the matter in two days.

Joseph L. Bruno, the Republican leader of the State Senate, complained that he still lacked information about the proposal, observed that the stadium plan was unpopular with many New Yorkers, and questioned why the stadium could not be built solely with private money.

Assembly Speaker Sheldon Silver, a Manhattan Democrat, continued to express concerns that the office space to be built as part of a broader plan to transform the area around the stadium would compete with office space to be built in Lower Manhattan to restore the area after the Sept. 11 attack.

And both men have said they are awaiting a judge's ruling - expected Thursday - on a lawsuit seeking to block the Metropolitan Transportation Authority's pending sale of development rights for its West Side railyards to the Jets.

But even as the legislative leaders continued to express their misgivings, the Pataki administration called for a special meeting of the Public Authorities Control Board - a little-known state entity made up of appointees of Mr. Bruno, Mr. Silver and Gov. George E. Pataki - to decide the fate of the stadium on Friday afternoon. The board has the power to approve the $300 million in state subsidies for the project or kill it.

Whether the Friday vote will prove to be the decisive showdown, though, is unclear, officials said. The Pataki administration has scheduled votes on the stadium twice before, but then postponed them at the request of the two legislative leaders.

Mayor Michael R. Bloomberg and Governor Pataki are warning that if the stadium plan is not approved soon, New York's hopes of being selected as the site of the 2012 Olympics will be dashed.


<snipped>

Oh, how we would be "dashed" on the rocks [note sarcasm] if New York "lost" the 2012 Olympics.

Or:

- during what two-week period does New York need more tourists?

- how much public money would go to building "venues" for the Olympians that the tourists would watch?

- how come the 42nd Street Library (the big research library) is asking for donations, and my neighborhood lending library just cut back their hours again?

- do we have so much extra tax money that we can afford to give it to the Olympics and the Johnson & Johnson Family Football team?
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Post by Primetime42 »

You know, this thing has blown up and gone ridiculously out of hand as of late.

Nevermind this whole thing with the money, Bloomberg and his cronies don't even have a PLAN for this thing yet. How the hell are they gonna convince that guy if they can't prove anything to him?

Funny side note; welch, did you happen to hear the details of George Steinbrenner's proposal for the new Yankee Stadium about a year back? How he said he'd foot the bill for the whole thing? Supposedly, the official plans for it were to be unvieled to the city this past month, but Bloomberg's camp requested it be delayed lest the proposal make Woody Johnson and the pro-stadium pushers look like a bunch of cheapskates.


...God I love this city. Never a dull moment. :lol: I won't even get started with the World Trade Center fiasco.
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Post by Redskin in Canada »

Primetime42 wrote:You know, this thing has blown up and gone ridiculously out of hand as of late.

It is New York City. In fact, it is Manhattan in particular.

What did you expect??? :roll:

Of course it is ridiculous. Of course it is offensively expensive. Of course IT WILL GET BUILT!

It is Taminy Hall for God's sake! I am surprised that you STILL manage to be surprised by anything happening there. :lol:

The paradox is: other than the tax payers, EVERYBODY else will make lots of money in this deal! :puke:
Daniel Snyder has defined incompetence, failure and greed to true Washington Redskins fans for over a decade and a half. Stay away from football operations !!!
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Post by welch »

Vote postponed again, because the Mayor can't get the State votes he needs to push the Jets stadium through.


June 4, 2005
Crucial Vote on Manhattan Stadium Is Put Off in Albany
By MICHAEL COOPER and CHARLES V. BAGLI

ALBANY, June 3 - Supporters of a proposed West Side stadium postponed a crucial vote on its construction on Friday, shortly after Assembly Speaker Sheldon Silver signaled his intention to vote against it. The delay threw the stadium's fate back onto Albany's murky trading floor of favors and promises, and set up an expected frenzied weekend of talks intended to change Mr. Silver's mind.


See the rest at

http://www.nytimes.com/2005/06/04/nyreg ... r=homepage

- PT42, did you say the costs might be getting out of control? Was that day-before-yesterday, when the news was reporting the entire package as costing $1.7 billion, or today, when NY1 began reporting the cost as $2.2 billion? Nifty: $500 million added per day!

- RIC, this is not simple Tamany politics. In fact, it makes old Tamany Hall look benevolent. The Jets project is driven by real estate owners (somewhat overlapping banks and insurance companies), plus construction companies, plus construction unions. The mid-town west real estate coalition is fighting the downtown bunch. Who knows...maybe, by accident, something reasonable will happen.

- By the way, PT42, I noticed the Yankees announcement, and lost track of it...meaning, I guess, that the Jets/Bloomberg crowd smothered the news. However, I'm always suspicious of Steinbrenner...had already begun looking for some "small-print" feature by which the public would get stuck for a half-billion dollars here or there. Maybe a parking lot that also acts as the centerfield wall?
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Post by Primetime42 »

Actually, I'm hearing 2.4 Billion and rising at the moment :shock:
Last edited by Primetime42 on Sat Jun 04, 2005 1:25 am, edited 1 time in total.
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Post by General Failure »

I want my cut too, make it 4 billion.
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Post by Redskin in Canada »

welch wrote:- RIC, this is not simple Tamany politics. In fact, it makes old Tamany Hall look benevolent. The Jets project is driven by real estate owners (somewhat overlapping banks and insurance companies), plus construction companies, plus construction unions. The mid-town west real estate coalition is fighting the downtown bunch. Who knows...maybe, by accident, something reasonable will happen.

I am aware. I am not optimistic. There is too much money to be made and New York lobbies have never resisted the power of the almighty US dollar, actually billions of them.
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Post by welch »

Maybe the Jets stadium has finally been voted down...


June 6, 2005
Lawmaker Vows Veto, Appearing to End Chances for Stadium
By TIMOTHY WILLIAMS

The financial plan for a proposed West Side stadium will be rejected by a key state panel today, appearing to end plans for the $2.2 billion project that had been the centerpiece of the city's bid for the 2012 Olympic Games and the proposed home of the New York Jets.

Assembly Speaker Sheldon Silver, one of three voting members of the state Public Authorities Control Board, said he would veto the stadium's financing plan. Mr. Silver said he was concerned that new retail and office development planned for the area around the stadium would have hampered redevelopment at the World Trade Center site, which sits a few miles to the south and is part of Mr. Silver's district.

"Am I supposed to sell out the community I have fought for and I have represented?" Mr. Silver, a Manhattan Democrat, said at an afternoon news conference before the board's vote. "Am I supposed to turn my back on Lower Manhattan?"

Mr. Silver said that even if New York is awarded the 2012 Olympic Games, he would not support a West Side stadium project.

Mr. Silver said rebuilding Lower Manhattan was a "moral" issue and dismissed the stadium plan as simple "ambition."

"The mayor and the governor have had almost four years to establish a construction schedule for Lower Manhattan," he said.

In addition to Mr. Silver, Gov. George E. Pataki and Senate Majority Leader Joseph L. Bruno are members of the little known Albany panel. Mr. Pataki has supported the stadium project and planned to vote in favor of it, while Mr. Bruno planned to abstain. For approval, a unanimous vote is required.

It is unclear what New York bid officials will do as far as a stadium for the Olympics. Even as late as this morning Daniel L. Doctoroff, the Deputy Mayor and leader of New York's bid effort, said there was no backup plan to the West Side project.

The board vote, to approve a $300 million state subsidy for the stadium, had been postponed three times in a month, most recently on Friday, after Mayor Michael R. Bloomberg said he wanted to personally negotiate with Mr. Silver during the weekend. Mr. Bloomberg had been working with city and state officials on a package of incentives to lure businesses downtown. The incentive plan had been designed to appeal to Mr. Silver.

On Friday, Mr. Silver scheduled a news conference at ground zero, an indication that he had planned to state his opposition to the stadium. He eventually cancelled the news conference after the mayor asked for more time for negotiations.

Mr. Silver said he was opposed the mayor's plan to subsidize business growth on the West Side, particularly because there are no similar subsidies planned for Mr. Silver's downtown district nearly four years after the World Trade Center attack. The Bloomberg administration has proposed building some 24 million square feet of office space in the neighborhood around the stadium. Revenue generated by the new development would have helped pay a portion of the stadium's cost.

That development plan is now in doubt, as is a future home for the Jets, the city's privately-financed Olympic bid, and efforts to expand the Javits Convention Center, which would have used the stadium during large conventions, exhibitions and trade shows.

A report today by the International Olympic Committee's Evaluation Commission on the five cities competing for the 2012 Olympic Games referred to the Bloomberg administration's difficulties in winning political approval for the stadium by stating that "New York could not provide a guarantee for the use of the Olympic Square site," referring to the stadium and an International Broadcast Center. The I.O.C. will decide which city will be awarded the 2012 Games on July 6.

Mayor Bloomberg has long said that a Manhattan stadium was crucial to the city's effort to win the Games. The mayor had no immediate comment.

In trying to win Mr. Silver's support, state officials had designed an incentive package to retain and lure businesses and jobs to Lower Manhattan, ranging from the elimination of the commercial rent tax to rent subsidies and job credits. The state was ready to ensure that the subsidies downtown would be steeper than what Mayor Bloomberg has in mind on the West Side for commercial tenants and developers.

The stadium had emerged as a pre-eminent issue in this year's mayor's race, in which the Republican Mr. Bloomberg is running for re-election against several Republicans and Democrats. Before Mr. Silver stepped into the fray, the stadium's most public opponent had been Cablevision Inc., the owner of Madison Square Garden.

Cablevision, which spent heavily on anti-stadium and anti-Bloomberg television advertisements, said it feared that the new facility, to be located only a few blocks away from the Garden, would compete with the arena for events. Neighborhood groups and some politicians had also denounced the plan due to its location and cost.
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Post by cvillehog »

In 20 words or less, can someone give me a description of the opposition to the stadium that a complete outsider would understand?
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Post by General Failure »

I'm gonna say kickbacks.
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Post by Primetime42 »

Traffic, Tax dollars, and (lack of) Tailgating.

Nevermind the money that should be used to rebuild Lower Manhattan.
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