ESD Approval of Penn Station Deal Violates Basic Transparency and Accountability, Undermines Public Trust

Statement on ESD Approval of Penn Station Redevelopment Mega-Deal
ESD and Hochul Administration Violated Principles of Transparency and Accountability, Undermined Public Trust 
An Emperor Has No Clothes Mega-Project, Mega-Subsidy Deal

Deal has no budget, no specific dollar figures, no details on State and City taxpayer share, or explanation for why $1.2B subsidy to Vornado is needed


Penn Deal violates basic principles of open government
Reinvent Albany is deeply disappointed by the cynicism and disregard for basic transparency shown by ESD and the Hochul administration’s management of the Penn Station redevelopment deal. 

PACB should vote no on Penn Dev Plan 
The Public Authorities Control Board should vote no on the Penn Station redevelopment project and tell ESD to publish a plan that includes an income and expense budget and actual dollar figures, instead of broad cost estimates and no revenue numbers. The board meets on Wednesday, July 27th at 2pm. Tellingly, the Hochul administration project has been sent to the PACB with no numbers attached to the approval in the meeting agenda. Prior to a vote of the PACB, the State Comptroller should publish written comments regarding the finances of projects. 

Red flag: still no answers on Penn Mega-Project, Vornado Subsidy
ESD has still not answered very basic questions from State Senators, the New York City Planning Commission, the NYC Independent Budget Officeeditorial boards, and Reinvent Albany. Why?