More grim news on the Brooklyn Bridge Park front: Money shortages are likely to delay the completion of the park. In a joint statement released yesterday, all the politicians representing this stretch of the Brooklyn waterfront (Markowitz, Velazquez, Millman, De Blasio and Yassky) struck an ominous chord in anticipation of tomorrow night’s public meeting to disclose the financial status of the project: The private development that was to fund much of the park is on hold indefinitely and (though the first phase is expected to proceed as planned), they said, No other public source for maintenance and operations expenses is available, and in these tough economic times, we do not believe these funds will come from government sources. The current estimate for the park’s construction is $346 million, says the post, but only $231 million has ben budgeted. In addition to the development shortfall, the park is estimated to cost $16.1 million a year to maintain, a per-acre cost second only to Manhattan’s Bryant Park. In light of the new challenges facing the park, the officials called for the reconstitution of the Community Advisory Council. The public meeting will be held at 6:00 p.m. at the Dibner Auditorium, NYU-Polytechnic University, 5 Metrotech Center. Full press release on the jump.
Is Most of BBP Being Put to Sleep for Now? [Curbed]
$16M a Year for Planned B’klyn Park [NY Post]
Photo by runtoline

JOINT STATEMENT ON BROOKLYN BRIDGE PARK FROM CONGRESSWOMAN
VELÁZQUEZ, BP MARKOWITZ, ASSEMBLYWOMAN MILLMAN, COUNCIL MEMBERS
DE BLASIO AND YASSKY

On Monday, January 26, the elected officials who represent the Brooklyn Waterfront met with Regina Myer, president of the Brooklyn Bridge Development Corporation, representatives from the Empire State Development Corporation and NYC Parks and Recreation Commissioner Adrian Benepe regarding the public release on Thursday, January 29, of the current financial status for Brooklyn Bridge Park.

Congresswoman Nydia M. Velázquez, Brooklyn Borough President Marty Markowitz, Assemblywoman Joan L. Millman, and Council Members Bill de Blasio and David Yassky issued the following statement:

The first phase of construction of Brooklyn Bridge Park, a partnership between the City and State, is officially underway. The first phase includes Pier 1 and portions of Pier 6 and is expected to be open to the public by the end of the year. This will bring our long awaited dream of Brooklyn Bridge Park to fruition. Our commitment to this park is in response to longstanding public support and a desire for parkland and waterfront access at this site.

The 2002 Memorandum of Understanding between City and State established the Brooklyn Bridge Park Development Corporation (BBPDC) as a partnership between the City and State of New York. It created a unique framework to develop and maintain the park, and requires the park to be financially self- sustaining. There was strong public participation in the development of this framework and park design, and we know this participation will continue with the future operations and programming of the park. That is why we are calling for the reconstitution of the Community Advisory Council as soon as possible to ensure public participation.

After a long public planning process, it was determined that maintenance and operation costs would be covered by revenues generated from a limited number of development sites. After extensive analysis, BBPDC determined that residential and hotel development would be the most appropriate way to provide the necessary revenue using the least amount of the project’s land. No other public source for maintenance and operations expenses is available, and in these tough economic times, we do not believe these funds will come from government sources.

Of equal importance is the public’s ability to depend on government to protect our open space resources. But we first asked that the open space be created, and that is exactly what the Brooklyn Bridge Park Development Corporation is doing. We ask that the City created are protected in perpetuity.

Lastly, we would like to commend the BBPDC and Regina Myer for their hard work and transparency in opening the books to the public. We also encourage everyone to attend the public meeting on Thursday, January 29, beginning at 6:00 p.m. at the Dibner Auditorium, NYU-Polytechnic University, 5 Metrotech Center.

CONTACTS:

Mark Zustovich, Brooklyn BP, 718-802-3830; mzustovich@brooklynbp.nyc.gov
Paul Nelson, Assemblymember Millman’s Office, 718-246-4889; nelsonp@assembly.state.ny.us