New York City Leaders Need to Blog

Despite the Speaker's references to Lower Manhattan development, it is now clear that on Saturday the Mayor made an extraordinary offer which more than met every single concern regarding Lower Manhattan development through an extensive and unprecedented subsidy and incentive package. Even more, the Mayor offered to freeze all incentives to West Side development until Lower Manhattan was significantly rented. Everyone in the real estate industry involved in these projects has found the Mayor's proposals to be a complete response to all of the Speaker's concerns. So this was not about Lower Manhattan development.

We are left with the conclusion from today's press reports that Monday's vote to kill the Olympic Stadium was based solely on parochial politics, not on any public policy or concerns for the City's future. These reports are an embarrassment for New York nationally and internationally. To have the City's Olympic bid jeopardized by this kind of negative politics may not just defeat the bid, but has shown New York in the worst possible light just as we are stepping onto the world stage against other great cities, all striving to win this most coveted of all international prizes. Monday's action by the State Legislative Leaders has thrown into grave jeopardy the City's bid, which is also America's bid.