Earlier in the day, the International Olympic Commission issued reports on the finalists for the 2013 games. The report detailed the pros and cons of each city's bid. A final decision is expected on July 6. The stadium is a key part of the city's bid.
"Despite enormous pressure from stadium supporters, speaker Silver lived up to his promise today and rejected the stadium on the merits," said Robert D. Yaro, president, Regional Plan Association. He added that majority leader Joseph Bruno "must also be commended for refusing to rubber stamp a bad project. We must now move forward with an ambitious economic development strategy for New York City, beginning in Lower Manhattan and expanding to the Far West Side when Ground Zero is rebuilt."
The stadium dovetails with plans that have received the go ahead--the expansion of the existing Jacob K. Javits Convention Center. The New York Convention Center Development Corp. yesterday issued a Request for Qualifications for architects/engineers to design the $1.4-billion expansion and renovation. "An expanded Javits Center will allow New York to host virtually any convention or trade show and make sure we do not lose out to other cities," says Charles Gargano, who serves as chairman of the Convention Center Development Corp. The expansion will increase exhibit space from 760,000 sf to more than 1.3 million sf. The new addition will add an estimated $53 million in combined annual tax revenue for the city and state to the $97 million it already provides.
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