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Governor Bails Out St. Vincent's Hospital

  ST. VINCENT’S EXPANSION  
  MANHATTAN COMMUNITY DISTRICT 02  
February 8, 2010
The New York Times

Governor Paterson, along with creditors, decided to extend a combined $6 million loan to St. Vincent's Hospital. Additionally, the hospital received a loan last week from the state, GE capital and TD Bank, totaling $8 million. This line of credit is designed to meet meet payroll and supply expenses. St. Vincent's Hospital is currently $700 million in debt.

Aqueduct Winner's Troubled Partner Drops

  QUEENS COMMUNITY DISTRICT 10  
February 8, 2010
New York Observer

Darryl Greene, a partner of the Aqueduct Entertainment Group (AEG), left the group as a result of over $1 million in back taxes owed to the state by companies with which he is associated. This announcement does not bear favorably on AEG's public perception, given recent claims that it won the Aqueduct bid as a result of political ties.

Additional Delays to Brooklyn Bridge Park

  BROOKLYN GREENWAY  
  BROOKLYN COMMUNITY DISTRICT 01     BROOKLYN COMMUNITY DISTRICT 02  
  BROOKLYN COMMUNITY DISTRICT 06     BROOKLYN COMMUNITY DISTRICT 07  
February 7, 2010
New York Post

Brooklyn Borough President Marty Markowitz (D) announced last week in his “State of the Borough” address that the first section of the Brooklyn Bridge Park will not open until the spring. The Pier 1 Recreation Area was initially scheduled to open in 2009, and previous delays pushed the opening date to January 2010. Markowitz didn’t provide any explanation for the latest delay.

Brooklyn Bridge Park Hindered by Reliance on Private Funding

  BROOKLYN GREENWAY  
  BROOKLYN COMMUNITY DISTRICT 01     BROOKLYN COMMUNITY DISTRICT 02  
  BROOKLYN COMMUNITY DISTRICT 06     BROOKLYN COMMUNITY DISTRICT 07  
February 7, 2010
The New York Times

The construction delays and funding shortfalls at the Brooklyn Bridge Park project exemplify the challenges municipalities face in creating of new parkland in New York City and across the country.

Financing Brooklyn Bridge Park

  BROOKLYN GREENWAY  
  BROOKLYN COMMUNITY DISTRICT 01     BROOKLYN COMMUNITY DISTRICT 02  
  BROOKLYN COMMUNITY DISTRICT 06     BROOKLYN COMMUNITY DISTRICT 07  
February 7, 2010
Gothamist

Brooklyn Bridge Park lacks the $125 million needed to complete the project. Though the City is responsible for the park's construction, the park will use proceeds from food sales and fees from the adjacent condominium complex to sustain operations and maintenance. There is concerned about the degree to which the park will remain "public" if it is dependent on private financing schemes.