Moynihan Station Approval Expected
ALBANY, N.Y. (AP) - A state panel on Friday was expected to authorize borrowing up to $90 million toward the purchase of Manhattan's Farley Post Office as an important step to creating a huge rail gateway for commuters and commercial center.
The vote today by the state Public Authorities Control Board would be the most positive step in the $900 million project to be called Moynihan Station since the same board failed to approve the borrowing in October.
The vote against the project as presented then was from the Assembly's Democratic majority. But that will change Friday, said Charles Carrier, spokesman for Assembly Speaker Sheldon Silver.
"I know we're supportive of that agenda item," Mr. Carrier said Friday.
"We are confident this is going to be approved later this afternoon," said Errol Cockfield, spokesman for the state Empire State Development Corp. "It's one more important step in a project that's going to transform the transportation landscape on the West Side of Manhattan."
That agency is seeking approval to borrow a mortgage for the purchase of the Eighth Avenue Farley Post office.
The renovation of the Farley post office, which sits just across from Madison Square Garden and covers two city blocks in the areas of 33rd and 34th streets and 8th Avenue, had been projected to be completed by 2010.
The expanded landmark would include 300,000 square feet of space for the train station, 850,000 square feet of retail space and 250,000 square feet for the post office.
The Port Authority of New York and New Jersey would use $140 million in its current funds, said authority spokesman John J. McCarthy. The Empire State Development Corp. would borrow up to $90 million, but Cockfield said the ESDC likely will borrow up to $35 million, using about $55 million already on hand.
Last week at a board meeting, ESDC downstate Chairman Pat Foye said "a fair amount of progress" was made between the state, New York City, private developers and transportation agencies since Jan. 1, when Democratic Gov. Eliot Spitzer took office.
"The city is a major partner on the deal," Foye said last week. "The city and the state have a common interest in making sure that W. 34th Street gets developed and that the building befits Senator Moynihan's vision."
He referred to the late Senator Moynihan, Democrat of New York, who had a lengthy career in the Senate, diplomacy and academics.
In October, Mr. Silver said the original proposal "does not come close" to meeting the needs of the area that also includes Pennsylvania Station. He wanted plans to include renovation of space at the train station and new facilities for the subways, Long Island Railroad, Metro North commuter trains and Amtrak.
But Mr. Silver now supports continuing with the project after little change except that Republican Governor Pataki is no longer trying to guide it.
