New York

Yo_Mama_Been_Loggin

(112,826 posts) Thu Apr 1, 2021, 12:32 AM Apr 2021

Cuomo threatens to delay budget over bonding for controversial Manhattan redevelopment plan

ALBANY — Gov. Cuomo is insisting that $1.3 billion in bonds for his plan to transform Penn Station and surrounding blocks be included in the state budget — using it as a bargaining chip to block lawmakers’ fiscal priorities, sources said.

21st Century Empire Station Complex in Manhattan that includes utilizing the block south of Madison Square Garden.

As budget negotiations went down to the wire Wednesday with a midnight deadline looming, the governor dug in his heels on his desired billions in bonding authority to help build ten massive Midtown towers as part of his Empire Station Complex project.

In January, Cuomo unveiled a $51 billion plan to transform a large swath of Midtown, mixing old plans such as a new train hall south of Penn Station and replacing the Port Authority Bus Terminal, with new ideas that include extending the High Line and erecting residential and commercial towers.

https://www.msn.com/en-us/news/politics/cuomo-threatens-to-delay-budget-over-bonding-for-controversial-manhattan-redevelopment-plan/ar-BB1fbdEE?li=BBnbfcQ&ocid=DELLDHP

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Cuomo threatens to delay budget over bonding for controversial Manhattan redevelopment plan (Original Post) Yo_Mama_Been_Loggin Apr 2021 OP

Build Back Better. Cuomo looks to the future aligning with President Biden's.. Budi Apr 2021 #1

Cuomo to get limited version of $1.3 billion in borrowing for Penn project in budget Yo_Mama_Been_Loggin Apr 2021 #2

Budi

(15,325 posts)

1. Build Back Better. Cuomo looks to the future aligning with President Biden's..

Reply to Yo_Mama_Been_Loggin (Original post)

Thu Apr 1, 2021, 02:12 AM

Apr 2021

...glorius infrastructture plan.
It fits right along with it as the States follow President Biden's lead.

Thanks Gov Cuomo

Yo_Mama_Been_Loggin

(112,826 posts)

2. Cuomo to get limited version of $1.3 billion in borrowing for Penn project in budget

Reply to Yo_Mama_Been_Loggin (Original post)

Tue Apr 6, 2021, 07:52 PM

Apr 2021

ALBANY — Gov. Cuomo is getting a scaled-back version of the $1.3 billion in bonding authority he requested for a controversial plan to redevelop Penn Station and surrounding Midtown Manhattan blocks.

Lawmakers introduced a capital budget bill early Tuesday that partially grants the governor’s wish for billions in borrowing power, but the final language limits the use to “transportation improvement projects” and can’t be used for “above-grade development.”

That means billions in state funds can’t go toward building 10 massive towers, including one super-tall structure dubbed “PENN 15.”

Critics have castigated Cuomo’s redevelopment plan, known as the Empire Station Complex project, arguing it sidesteps the usual city land-use process.

https://www.msn.com/en-us/news/politics/cuomo-to-get-limited-version-of-1-3-billion-in-borrowing-for-penn-project-in-budget/ar-BB1fmNlm

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