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LIU: CITY’S TIMES SQUARE GIVEAWAY COST TAXPAYERS $344.9 MILLION

Taxpayers Lost Big Time with EDC’s Outrageous Deal on

Marriott Marquis Hotel Lease, Audit Finds

Comptroller John C. Liu today called on Mayor Bloomberg and the City’s Economic Development Corporation (EDC) to renegotiate a lease agreement with the Marriott Marquis Hotel that could cost taxpayers at least $344.9 million.

“This is one of worst deals since Manhattan was sold for $24,” Comptroller Liu said.  “The EDC betrayed its fiduciary responsibility to act in taxpayers’ interest when it recommended this sweetheart deal to the City in 1998.  The clock is ticking ­— the lease set to expire in less than four years would let the Marriott Marquis purchase one of the hottest pieces of New York real estate for a fire-sale price of $20 million — that’s ten cents on the dollar compared to its value today.”

Comptroller Liu urged the City to renegotiate the lease or find another tenant for this prime real estate. “City Hall needs to reexamine this agreement and do whatever it can to recoup the millions taxpayers have lost in this boondoggle. If Marriott refuses to renegotiate the lease they should vacate the property; after all the land still belongs to the City and there are certainly other luxury hotels that would be willing to pay a fair price for a Times Square location.” 

The Marriott Marquis was built on City land under a 1982 agreement that was fair and beneficial to both the hotel and the City. In 1998, the City’s EDC encouraged City Hall to rewrite the terms and shorten the life of the 75-year lease by 40 years. The new lease drastically cut the hotel’s rent payments and allows the Marriott Marquis to buy a large corner of the Theater District for a song when the lease expires in 2017 — instead of 2057.

Comptroller Liu’s audit conservatively estimates that taxpayers stand to lose $344.9 million since the EDC rewrote the Marriott Marquis’ lease with two major changes:

• Below Market Value Purchase Price (Loss of $173.1 million) – The EDC provided the Marriott with the right to buy the land at Broadway and 46^th Street for a bargain basement price of $19.9 million.  The original lease allowed the Marriott Marquis to purchase the land in 2057 for “fair market value,” which today is estimated to be worth $193 million, according the City’s Finance Department records.

• Rent Forgiveness (Loss of $171.8 million) – The EDC agreed to dramatically reduce Marriott Marquis’ annual rent payments to the City by allowing the hotel to pay off all of its back rent in lieu of current rent. 

EDC’s Excuses

When asked why the agency revised the lease at such a disadvantage to the City, EDC officials responded that the individuals who had brokered the deal no longer worked at the agency and that the EDC had little or no record of the transaction — a breathtaking assertion for a deal of this magnitude that is still in effect. In addition, officials pointed to Times Square’s condition and the need to develop it, in contradiction of the fact that, by 1998, Times Square had boomed and hotels and other businesses were pushing to open there.

Missing Documents: Breach of Contract

Under its lease Marriott has to keep financial records for six years. Audits in both 1990 and 1997 uncovered that the Marriott failed to follow this provision.  As a result of these scathing reports, Marriott wrote to the City in 1997 that it “changed its retention policy and since late 1995 every underlying document is stored on CD-ROM” and that it was complying with the six-year retention policy stated in the Lease Agreement.  When auditors last year asked for Marriott to turn over six years of financial records, Marriott stated it only had records dating to 2008, a violation of its contractual obligation. Because of Marriott Marquis’ indisputable contract breach, Comptroller Liu is asking the City to reopen the lease and renegotiate the terms that have left the City at such a lopsided disadvantage.  Moreover, Comptroller City should pursue recoupment of the lost $344.9 million.

Other Findings:

The Marriott Marquis owes the City $3.6 million in Accrued Unpaid Rent interest dating to 1998.  Under its 1998 agreement Marriott was required to pay off back rent with interest. However, Comptroller Liu’s audit found that the Marriott Marquis failed to make an interest payment of $1.8 million at that time. Over time, compounded interest has increased the amount Marriott owes the City to $3.6 million.

A copy of the audit is attached to this e-mail. It is also available for download at http://www.comptroller.nyc.gov/bureaus/audit/audits_2013/02-11-13-FK12-065A.shtm.

Visit www.comptroller.nyc.gov for the latest news, events, and initiatives.

You're Invited to celebrate Dominican Heritage Month

Dominican Heritage Month

Bronx Borough President Ruben Diaz Jr.

Invites you to join him in celebrating the Dominican culture with traditional music and food on  

Wednesday, February 20, 2013

5:30 pm

Grand Slam, 478 East Tremont Avenue, Bronx

To RSVP Please Call 718-590-3989 or email smalave@bronxbp.nyc.gov

Wave Hill Events February 22–March 1

  

   The second session of Wave Hill’s Winter Workspace residency gets underway next week, so by the time of the February 23 and 26 workshops, Onyedika and Tessa will be well settled in. Both workshops are almost full, but we are accommodating drop-ins as space permits. These sessions offer a way to connect with nature as muse, in a way that is distinctly Wave Hill. Be sure to pair the workshop—or papermaker Randy Brozen’s Family Art Project—with a walk through the landscape, already teasing us with signs of spring: This morning, I was thrilled to see clusters of daffodil stems pushing up around the base of the dawn redwoods in front of Glyndor House.  Of course, if you can’t make it to the Bronx this week, check out the lecture urban farmer Annie Novak is offering on Wednesday evening at the New York School of Interior Design.

If you live in the Bronx, take advantage of free admission to the grounds through Sunday, February 24!

SAT, FEBRUARY 23   FAMILY ART PROJECT—SEEDY BEADY PAPER

Seedy Beady Paper/Papel, pepitas y abalorios

Popular papermaker Randy Brozen shows us how to make beautiful sheets of handmade paper. We’ll make it extra fancy, and dress it up with seeds and seed beads! Free, and admission to the grounds is free until noon.

ECOLOGY BUILDING, 10AM‒1PM

SAT, FEBRUARY 23    WINTER WORKSPACE: EXPLORING FORM—MOLD MAKING AND CASTING

Visitors gain insight into Winter Workspace artist Onyedika Chuke’s creative process and explore the winter landscape as a source of inspiration. In this mold-making workshop, participants learn about different casting techniques and then create their own molds and casts of both organic and machined forms. Art materials are provided unless otherwise noted. Workshops are open to all visitors ages 12 and over when accompanied by an adult. Space is limited, so registration is recommended, at www.wavehill.org, by calling 718.549.3200 x305 or at the Perkins Visitor Center. Free with admission to the grounds. Drop-ins will be accommodated as space permits. This program also takes place on March 17.

GLYNDOR GALLERY & ON THE GROUNDS, 10AM–1PM

SUN, FEBRUARY 24   FAMILY ART PROJECT—SEEDY BEADY PAPER

Seedy Beady Paper/Papel, pepitas y abalorios

Popular papermaker Randy Brozen shows us how to make beautiful sheets of handmade paper. We’ll make it extra fancy, and dress it up with seeds and seed beads! Free with admission to the grounds, and admission is free for Bronx residents.

ECOLOGY BUILDING, 10AM‒1PM

SUN, FEBRUARY 24    GARDEN AND CONSERVATORY HIGHLIGHTS WALK

Join us for an hour-long tour of seasonal garden highlights. Free with admission to the grounds.

MEET AT PERKINS VISITOR CENTER, 2PM

MON, FEBRUARY 25

Closed to the public.

TUE, FEBRUARY 26    WINTER WORKSPACE: PORTRAIT OF A LANDSCAPE—PAINTING WITH NATURAL MATERIALS

Visitors gain insight into Winter Workspace artist Tessa Grundon’s creative process and explore the winter landscape as a source of inspiration. Grundon demonstrates how she creates images of the environment using natural materials such as mud and beeswax sourced from the site. Using these techniques, participants will make their own drawings of the local landscape. Art materials are provided unless otherwise noted. Workshops are open to all visitors ages 12 and over when accompanied by an adult. Space is limited, so registration is recommended, at www.wavehill.org, by calling 718.549.3200 x305 or at the Perkins Visitor Center. Free, and admission to the grounds is free all day. Drop-ins will be accommodated as space permits. This program also takes place on March 19.

GLYNDOR GALLERY & ON THE GROUNDS, 1–4PM

WED, FEBRUARY 27    HORTICULTURAL LECTURE #2―ANNIE NOVAK: THE FUTURE OF FARMING

Wave Hill Horticultural Lectures are devoted to landscape design and the meaning of our interactions with plants and the natural world. This year’s distinguished lecturers offer a walk down memory lane. But these presentations are not simply an indulgence in nostalgia, because the past strongly informs the present in the three subjects we address. Hear from the front lines of the urban farm movement, as Annie Novak, founder and director of Growing Chefs, a field-to-fork non-profit for food education, explains how city farmers are learning from the lessons of agricultural history, even as they incorporate their own innovations on rooftops. A lifelong vegetarian and passionate advocate for ecology within good agriculture, Novak is cofounder and farmer of the nation’s first greenroof vegetable farm, the Eagle Street Rooftop Farm in Brooklyn. The final lecture in this series takes place March 13. Series: $48 Member, Student/$60 General. Individual lectures: $20 Member, Student/$25 General. Reservations recommended, online at www.wavehill.org or by calling 718.549.3200 x216.

NEW YORK SCHOOL OF INTERIOR DESIGN, 170 EAST 70TH STREET, MANHATTAN, 6PM

 

A 28-acre public garden and cultural center overlooking the Hudson River  and Palisades, Wave Hill’s mission is to celebrate the artistry and legacy of its gardens and landscape, to preserve its magnificent views, and to explore human connections to the natural world through programs in horticulture, education and the arts.

HOURS  Open all year, Tuesday through Sunday and many major holidays: 9AM—4:30PM. Closes 5:30PM, March 15—October 31.  

ADMISSION  $8 adults, $4 students and seniors 65+, $2 children 6—18. Free Saturday mornings until noon. Free all day Tuesdays in February and March. Free to Wave Hill Members and children under 6.

PROGRAM FEES  Program s are free with admission to the grounds unless otherwise noted.

Visitors to Wave Hill can take advantage of Metro-North’s one-day getaway offer. Purchase a discount round-trip rail far and discount admission to the gardens. More at http://mta.info/mnr/html/getaways/outbound_wavehill.htm

DIRECTIONS – Getting here is easy! Located only 3o minutes from midtown Manhattan, Wave Hill’s free shuttle van transports you to and from our front gate and Metro-North’s Riverdale station, as well as the 242^nd Street stop on the #1 subway line. Limited onsite parking is available for $8 per vehicle. Free offsite parking is available nearby with continuous, complimentary shuttle service to and from the offsite lot and our front gate. Complete directions and shuttle bus schedule at www.wavehill.org/visit/.

Information at 718.549.3200. On the web at www.wavehill.org.

Sen. Klein Hosts Free Flu Vaccine Event

   On Thursday, February 7, 2012, State Senator Jeff Klein held a free flu vaccine event at Vladeck Hall at 74 Van Cortlandt Park South in the Bronx.. The event was co-sponsored by Jacobi Hospital where a RN from Jacobi gave free flu vaccinations to attendees who signed up for them. By offering free flu vaccinations, Senator Klein, working with the Jacobi Hospital, wants to help Bronx residents protect themselves and their families against influenza. The flu season lasts through May, yet it peaks in February. The sooner Bronxites get vaccinated, the better protected the community will be from influenza.On hand were co-sponsor Assemblyman Jeff Dinowitz, and 11th city council district candidate Andrew Cohen.

 

Left - Senator Klein comforts Mr. Emanuel Badger as Assemblyman Dinowitz and 11th council candidate Andrew Cohen (behind Senator Klein) look on while Jacobi Hospital RN Kylia Ester gives Mr. Badger his flu shot. 

Right - Senator Klein, Assemblyman Dinowitz, and council candidate Andrew Cohen pose for the camera. 

Plow NYC and Final 2012-2013 Borough Snow Plans

   This comes from one of our friends at City Hall.

   A new feature now is PlowNYC, a webpage where residents can track the progress of plowing operations in their neighborhoods.  People can put in their address and view a local map that includes their street's priority designation and details about when the location was last serviced.  The link is as follows:

http://www.nyc.gov/html/oem/html/nycsevereweather/weather_plowtracker.shtml


The borough snow plans are now available on the DSNY webpage
http://www.nyc.gov/html/dsny/html/snow_plans_mapping/snowplans.shtml;


Also the maps can be found at http://www.nyc.gov/dsny under the tab Snow Plans and Mapping.

Public Advocate Bill de Blasio Endorses Andrew Cohen for Council

   New York City Public Advocate (and announced candidate for mayor) Bill de Blasio today has endorsed candidate Andrew Cohen in his bid for the City Council’s 11th district seat. The announcement was made Friday in front of the Mosholu Montefiore Community Center in the Norwood section of the district in the northwest Bronx.

“I know that Andrew is the right person to make our neighborhoods an even better place to live, work, and raise a family,” de Blasio said. “His commitment to helping his community is strong, and I know he will fight for the ideals that I care about in the City Council. I am proud to endorse Andrew Cohen in the race for the 11th City Council district.” This was only an endorsement of 11th council candidate Andrew Cohen, and not a cross endorsement.

Mr. Cohen has already been endorsed by Congressman Eliot Engel, State Senator Jeff Klein, Assemblyman Jeffrey Dinowitz, City Councilmembers Oliver Koppell and James Vacca and City Council Speaker Christine Quinn (who like de Blasio is running for mayor in the September Democratic primary).

“I am proud to receive the endorsement of our Public Advocate, Bill de Blasio, who has been a strong fighter for the people of New York City,” Cohen said. “We are standing outside the Mosholu Montefiore Community Center, an outstanding organization that effectively serves both our youth and our seniors. As Chairman of Bronx Community Board 8’s Aging Committee and former Chair of Board 8’s Youth Committee, I know the importance of wonderful institutions like these and appreciate all they do for our community. Once elected, I plan to work very closely with Mosholu Montefiore and other community organizations that have such a strong and positive affect on our neighborhood.” 

Left - below - Public Advocate and 11th council district Andrew Cohen stand outside the Mosholu Montifiore Community Center as de Blasio explains why he has chosen to endorse candidate Andrew Cohen in the 11th council district. 

Right - above - The pair listen to MMCC director Don Bluestone explain his frustrations about some of the mandates of the Bloomberg administration, and how  MMCC has been cut back on or lost needed programs to the community.

Left and Right - Cohen and de Blasio say hello to the seniors who are at MMCC to get a much needed meal and more.

COUNCIL PASSES KOPPELL-SPONSORED BILLS TO ASSESS MOVING POWER LINES UNDERGROUND,

COUNCIL PASSES KOPPELL-SPONSORED BILLS TO ASSESS MOVING POWER LINES UNDERGROUND, INCREASE STORM WATER RETENTION & CREATE A RENEWABLE ENERGY WEB PORTAL  

   At its meeting on Wednesday, February 6, 2013, the Council approved a bill, co-sponsored by Council Member Oliver Koppell, a member of the Environmental Protection Committee, that  authorizes a study to examine relocating overhead utility wires in vulnerable neighborhoods underground. The Council found that thousands of individuals in the outer boroughs where overhead power lines existed were without power for weeks, whereas parts of the city served by underground lines typically had service restored within a few days.

The study, to be conducted over a period of six months, would include an analysis of weather-related power outages over the last five years for both underground and above ground power lines, an examination of general network reliability for both types of power distribution and an estimate of the per-mile cost for undergrounding.

“I welcome this study,” Koppell said “which is particularly relevant to my district where the existence of overhead power lines in Fieldston resulted in a large number of outages and long delays in restoring power to that community.  I have already asked Con Ed to bury the lines underground in Fieldston and I believe the results of this study will bolster my request.” 

Legislation To increase Stormwater Retention and Increase Biodiversity

The Council also voted on legislation to require the Parks Department to develop a stormwater retention planting guide in order to use greenery to help manage stormwater runoff and combined sewer overflows.

“Water from even mild rain storms can overwhelm the city’s sewer system, causing combined sewer overflows where stormwater and raw sewage are mixed and released into surrounding bodies of water untreated,” Koppell said.  “The bill would result in city plantings being more stormwater tolerant in order to facilitate stormwater retention and filtration, procedures that  will become even more important with the anticipated increase in the intensity of future storms.”  

The Council also approved legislation to increase native plant species on city-owned properties.  The bill requires the Parks Department to develop manuals to increase biodiversity in its landscape practices in order to minimize the space available for invasive, non-native plant species that are not suitable to the city’s climate. 

Both the stormwater retention and biodiversity guides will be made available online for the public to use.

Creation of a Green Web Portal

In order to help  reduce  greenhouse gas emissions in the city, the Council also approved the creation of a renewable energy web portal to promote the adoption of green energy systems, including solar, wind and geothermal.  The web portal would inform the public about the feasibility and economic practicality of installing renewable energy resources in New York City.  

“Taken together, these measures are forward thinking and will contribute towards the protection of our environment and mitigate the detrimental effects of climate change,”  Koppell said.