Update on Madison Square Garden

Jul 2, 2013 - by Steve Gerweck

From NYPost.com:

(Getty Images)

A key City Council committee has just offered to let Madison Square Garden stay on its own land above Penn Station for another 10 years. Generous, no?

Given New York pols’ fondness for strong-arming private businesses, you might have expected the council members to give the Garden a mere 30 days’ notice.

But at least all the key parties are finally being honest: They want the Garden gone.

Never mind that the owners have spent billions of their own cash for the land, the building and renovations and have every legal right to stay where they are.

Or that the stated rationale for evicting them — the need to rebuild Penn Station — would require a multiparty agreement on a viable plan, and billions in funding, by the city of New York, the state of New York, the state of New Jersey, the federal government, Amtrak, the Long Island Rail Road, New Jersey Transit and, oh yeah, the United States Postal Service.

Click here to read more

(thanks to Jeff Sheridan for the link)

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