West Side Redevelopment Funding Not To Be Used For Stadium

N.Y. City Council Excludes Proposed Stadium From Redevelopment Plan

While reaching an agreement yesterday with the administration of N.Y. Mayor Michael Bloomberg over housing, development rights and financing for the West Side redevelopment project, the N.Y. City Council “took steps to sever any connection between” the plan and the proposed $1.4B stadium for the Jets and the 2012 Olympics, according to Bagli & McIntire of the N.Y. TIMES. Under terms of the agreement, “none of the money appropriated for the redevelopment can be used for the stadium.” Council members and stadium opponents “wanted to make clear that redevelopment was in no way dependent on the stadium.” Council Speaker Gifford Miller said, “The financing we’re talking about has nothing to do with the stadium. It’s neutral to the stadium. I believe that this agreement will move forward whether the stadium moves forward or not” (N.Y. TIMES, 1/11). N.Y. Comptroller William Thompson: “I think the stadium now stands on its own as opposed to the view that it should be lumped in with the other development.” But N.Y. Deputy Mayor for Economic Development Dan Doctoroff said he was “overjoyed” at the deal, which he “sees as integral” to the stadium proposal (NEWSDAY, 1/11).