The plan also ensures the maximum revenue for the State of NewYork, proposing $250 million up front, plus $130 million inadditional construction expenditures--on top of the state's $250million--to ensure the best possible facility at Aqueduct. Added tothat is the guaranteed $106 million in ongoing capital improvementsto the facility over the franchise term. In addition, SL Green'sproposal includes a proprietary $28.5-million upstate equineeconomic development program to support and encourage growth in NewYork's horse racing industry.
[IMGCAP(2)]As GlobeSt.com previously reported, the redevelopment planincludes working with the Hard Rock brand, which will help developand operate a fully integrated entertainment complex--with racing,gaming, restaurants, retail and hotels. The plan is intended tocreate approximately 600 full-time union construction jobs and 575full-time union operations jobs in the initial phase alone, andhundreds of more jobs are anticipated in future spin-off employmentspurred by the Aqueduct development.
Unions supporting SL Green's bid include: the Building &Construction Trades Council of Greater New York; the New York Hoteland Motel Trades Council; Local 32BJ of the Service EmployeesInternational Union; Local Union No. 3 of the InternationalBrotherhood of Electrical Workers; the International Union ofOperating Engineers, Local Union No. 94; the International Union ofOperating Engineers, Local Union No. 30; and the Sheet MetalWorkers International Association, Local No. 28, Metropolitan NewYork and Long Island. When contacted, an SL Green spokespersontells GlobeSt.com that they "can't yet discuss publicly beyondcurrent disclosures."
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