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Old Posted Mar 30, 2016, 6:24 PM
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^^^^

The deadline was extended in the last couple of days.

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Mark Messier tussles with mayor over Cuomo funding for Kingsbridge

Quote:
The de Blasio administration is locked in a lease dispute over the fate of the Kingsbridge Armory — a clash that is pitting the mayor's economic development agency against a company run by hockey legend Mark Messier.

In advance of a deadline on Saturday, the New York City Economic Development Corporation (EDC) agreed to grant the Messier-run Kingsbridge National Ice Center another month to produce $138 million in funding for the first phase of the complex it plans to build at the site of the vacant armory in the Bronx.

The EDC owns the lease to the site and has so far refused to release it from escrow. The agency argues the developer has not come up with the entire $158 million it committed to in an earlier agreement with the city, but the company insists that a promise of $138 million from the Empire State Development, an agency run by Gov. Andrew Cuomo, is sufficient for the city to turn over the lease. (The remaining $20 million is coming from other sources.)

"NYCEDC offered to extend the deadline for our escrow agreement with the Kingsbridge National Ice Center in order to give them additional time to secure the financing and documentation necessary to move ahead with this project," agency spokesman Anthony Hogrebe said in an email. "We hope they will use the time effectively and look forward to continuing our work with them and with the Kingsbridge community."

[...]

"Delivery of the lease is all that remains before Kingsbridge can move forward with construction," said William Brewer, a partner at Brewer, Attorneys & Counselors. "In the meantime, the Kingsbridge team continues to invest in this project and achieve key milestones in pursuit of the Kingsbrdige National Ice Center vision."


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http://www.capitalnewyork.com/articl...ng-kingsbridge
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