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| Re: Budget Concerns Threaten To Derail Fulton Transit Hub (560717) | |||
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Re: Budget Concerns Threaten To Derail Fulton Transit Hub |
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Posted by Russ on Mon Jan 28 21:27:20 2008, in response to Re: Budget Concerns Threaten To Derail Fulton Transit Hub, posted by Terrapin Station on Mon Jan 28 21:15:39 2008. Can you imagine how much money might possibly have been wasted?It is not just the cost of building the Egg. The raw opportunity cost for the MTA is huge. The differential in the cost between the Egg and a privately developed building that exploits maximum permitted density... I don't have any figures, but it would not surprise me if it was in the hundreds of millions of dollars. As for the City, It would have been reduced space for economic activity that generates tax revenue, as a well as the loss of property taxes. To me the MTA is taking a lemon and making lemonade. "Lemonade.. that cool refreshing drink!" |
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