Observer » Public Authorities Control Board

You Own Farley Post Office Now

Fri, 23 Mar 2007 17:13:38 -0400

The state Public Authorities Control Board has voted to buy the Farley Post Office for $230 million and change--with some of that being provided by a loan.

This was exactly what Assembly Speaker Sheldon Silver wanted to do last fall, but which Gov. Pataki resisted, since it meant that the state would own a building without having approved a plan to go along with it (and also because he saw Mr. Silver's position as posturing for Madison Square Garden's sake). That plan, to turn the post office into Moynihan Station, still has not been approved by the PACB.

If Moynihan never gets approved and the larger attempt to move Madison Square Garden collapses, the taxpayers of New York State will have an awfully large, hard-to-heat building on their hands. But, hey, who could pass up a chance to own a set of 20 53-foot Corinthian columns?

- Matthew Schuerman

Atlantic Yards Approved

Wed, 20 Dec 2006 17:10:30 -0400

I don't see anything up on the wires yet, but WNYC is reporting that the Public Authorities Control Board (that is, Shelly Silver) approved the Atlantic Yards project. As expected.

--Andrew Rice

Silver Gets Atlantic Yards Analysis

Tue, 19 Dec 2006 17:09:09 -0400

The KPMG report that may explain how much money Atlantic Yards will make the state--and whatever happened to the missing half-billion dollars--is now in state Assembly Speaker Sheldon Silver's hands.

Jessica Copen, a spokeswoman for the Empire State Development Corporation, said the report, which has not been distributed publicly (nor even to Assemblyman Richard Brodsky), was one of the documents the ESDC gave Silver's office as a result of Tuesday morning's meeting.

"The ESDC is providing all of the information that the PACB is asking for," she said.

The Public Authorities Control Board will either vote on the Brooklyn project on Wednesday--or it won't.

- Matthew Schuerman

Atlantic Yards Vote Up in the Air

Tue, 19 Dec 2006 11:22:48 -0400

NY1 is reporting that state Assembly Speaker Sheldon Silver will not give final approval to the Atlantic Yards project before the next Governor comes into office on Jan. 1. Silver controls one of the three votes on the state Public Authorities Control Board, which is set to meet on Wednesday for the last time this year.

Silver: Again, it comes down to one man.

But these sorts of things are often negotiated up to the last minute, and the agenda is not finalized until the beginning of the meeting. A spokesman for Pataki, John Sweeney, told The Real Estate, "We are expecting that Atlantic Yards will be on the agenda."

A spokeswoman for the Empire State Development Corporation, Jessica Copen, said that representatives from that agency are meeting with the PACB on Tuesday morning to field more information requests.

All of which means that it is still up in the air, but that Silver is paving the way for postponement.

- Matthew Schuerman

Atlantic Yards Opponents to Rally at City Hall

Mon, 18 Dec 2006 12:06:04 -0400

Opponents of the Atlantic Yards project are tossing down a loud gauntlet on Monday afternoon. They will gather at City Hall at 1 p.m. to urge the state Public Authorities Control Board to refrain from voting on the project at its next meeting this Wednesday.

The board could end up having the final say on what's become one of the most controversial real estate projects in recent New York City history.

The opponents rallying at City Hall want the authorities control board "to vigorously scrutinize the financial details of Forest City Ratner's Atlantic Yards project before voting on it." And they also want Eliot Spitzer in the governor's mansion before the board votes.

UPDATE: Crain's reports in its print edition this week that, "Spitzer's top development officials will decide early this week whether to seek a delay in a crucial vote on the Atlantic Yards project. The development is scheduled for a vote on Wednesday before the Public Authorities Control Board, but could be put off at the request of Assembly Speaker Sheldon Silver, an ally of Mr. Spitzer."

- Tom Acitelli

The Afternoon Wrap: Friday

Fri, 15 Dec 2006 16:19:45 -0400

It's not news that Soho is over the hip hill. But who knew that "by a ratio of 5:1, shoppers said they would come to Prince Street more often if they had more space to walk"? Attention shoppers, if any more of you come to Prince, the neighborhood will turn into one big expensive spice-rack. [Streetsblog]

Christie's is holding its biggest-ever sale of "20th century decorative art and design." If you have $20 million, get yourself a merry little chandelier, paperweight, light fixture, or rare Favrile glass mosaic panel. [Interior Design]

Even though the $900 million plan for Moynihan Station didn't make it past the Public Authorities Control Board in October, the excitingly-titled PACB will be reexamining the deal on Dec. 20. (They'll also likely be passing judgement on Atlantic Yards then, too.) Christmastime is always so exciting! [City Limits]

The median rent for New York City apartments rocketed 21 percent from 2002 to 2005, which means "low-income renters have little cash remaining at the end of the month after struggling to pay rent, and must forgo other basic necessities." [Multi-Housing News]

- Max Abelson

Chris Owens Returns

Mon, 11 Dec 2006 16:00:00 -0400

Mixed into crowd of protesters asking lawmakers to delay a vote on the the Atlantic Yards project was former Congressional candidate (and possible borough presidential candidate) Chris Owens.

While a number of speakers at the demonstration focused on the narrow issue of whether approval from the Public Authorities Control Board could take place before the new gubernatorial administration takes office, others, like Owens, also questioned the project's finances.

"Show us the money," Owens he chanted.

It'll be interesting to see if the anti-Atlantic Yards base that made Owens a player in the congressional race can also make him a credible candidate in a borough-wide race.

-- Azi Paybarah

3,600 People Vs. Three Men in a Room

Thu, 30 Nov 2006 11:45:22 -0400

Silver - one of the three men in a room.

Develop Don't Destroy Brooklyn has collected 3,600 form letters, online and on the street, urging the Public Authorities Control Board to postpone its vote on Atlantic Yards until after "the courts" rule on its eminent domain lawsuit -- which, frankly, could take a few years, especially if the case goes all the way to the Supreme Court.

Most of them, spokesman Daniel Goldstein said, were collected in Brooklyn, but there are 400 signers from state Assembly Speaker Shelly Silver's Lower Manhattan district among them. Silver, Gov. Pataki, and state Senate Majority Leader Joe Bruno control the votes on the authorities control board.

The letters will be delivered Tuesday.

- Matthew Schuerman

ESDC Sets Atlantic Yards Approval Date

Mon, 27 Nov 2006 15:48:31 -0400

Mark it on your calendars: 10 a.m., Dec. 8. The Empire State Development Corporation just scheduled its next meeting for then, at which time the board is expected to approve the Atlantic Yards project.

It then goes to the state Public Authorities Control Board.

- Matthew Schuerman

Silver Says, Buy Now, Build Later

Wed, 18 Oct 2006 14:24:31 -0400

Assembly Speaker Sheldon Silver this morning offered what he called a compromise on Moynihan Station: spend the $100 million or so to buy the Farley Post Office from the Feds before the option expires, and figure out the whole scheme later. Will Gov. Pataki bite? The Public Authorities Control Board is supposed to meet this afternoon.

-Matthew Schuerman