With great fanfare, State Comptroller Thomas DiNapoli announced the other day that he will conduct an audit of the Metropolitan Transportation Authority’s ventures into real estate development. Specifically, the comptroller seems wary of a deal that the MTA cut with Apple, which is due to open a new store in Grand Central Terminal in the coming days.
Oversight of agencies like the MTA is always a good thing. The transit agency’s books have been the subject of endless controversy in recent years as great gaps appeared in its budgets. Mr. DiNapoli’s enthusiasm, then, is not such a bad thing.
But the comptroller should proceed with great care here. Read More