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April 2017
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Recap of News on Funding, More on Tunnels

There was plenty of news about the financial picture for Moynihan Station this week. The Friends of Moynihan Station site has a summary of “who’s offered what so far.” Here’s a recap: On Monday, ESDC Chair Patrick Foye told the State Assembly that the state faces a $1 billion gap in funding for the project. On Tuesday, Governor Spitzer said the state was making real progress on Moynihan and refuted comparisons to the failed Javits expansion. On Thursday, the New York Sun reported that the “large coffers and bonding capacity” of the Port Authority could help close the funding gap. Foye said it was “not a sound idea” and Steve Ross, chairman of Related Companies, denied having any discussions with PANYNJ. Meanwhile, we received some insightful comments on the Gimbels Passageway and confirmed the existence of the New Yorker Hotel Tunnel to Penn Station: old penn station entrance doors gent More to come!