Government Briefs

Cuomo plans nation’s biggest convention center in Queens

Gov. Andrew Cuomo last month unveiled plans to bring a massive convention center to the newly opened Aqueduct Racetrack complex in Queens. The state is working with developer Genting Group, which currently runs Aqueduct’s racino, on the proposed $4 billion, 3.8 million-square-foot project. With 3,000 hotel rooms, the facility would be the country’s largest convention center. The first phase of the project is expected to be completed by 2014, according to the Wall Street Journal, though Genting has yet to sign an agreement to begin construction. The new facility would replace Manhattan’s Javits Center, which Cuomo described as “obsolete,” the Journal said.

Fed calls for action on housing market

The U.S. Federal Reserve last month called for action to stabilize the nation’s housing market, warning that failure to do so could harm the broader economy. In a 26-page white paper sent to Congress, the Fed outlined several ways to shore up the housing market. “Restoring the health of the housing market is a necessary part of a broader strategy for economic recovery,” Federal Reserve chairman Ben Bernanke said in a letter to lawmakers. While there is “no single solution” for the nation’s housing problems, the paper said, “it might be appropriate in some cases to redeploy foreclosed homes as rental properties.” And when it comes to Fannie Mae and Freddie Mac, further short-term losses for the mortgage giants “might be in the interest of taxpayers.” If no action is taken and the economy worsens, the Fed may take the controversial step of buying more mortgage-backed securities.

Upgrades in the works for LaGuardia

The Port Authority last month issued a request for proposals to replace the cramped, aging Central Terminal Building at LaGuardia International Airport, the Wall Street Journal reported. Construction on the $3.6 billion project is slated to be completed by 2021. Nearly half of the airport’s 24 million annual passengers use the Central Terminal, which was built in 1964. “I don’t think anybody feels it’s a 21st-century facility,” Port Authority executive director Patrick Foye told the Journal. “It’s inadequate from the point of view of passengers, airlines and the Port Authority.” The Port Authority is also expected to announce a similar request for proposals to overhaul Newark Liberty International Airport’s Terminal A.

9/11 museum falls behind schedule

The National September 11 Memorial & Museum in Lower Manhattan now has “no chance” of opening in time for the 11th anniversary of the terrorist attacks next fall, Mayor Michael Bloomberg said at a press conference late last year. “Work has basically stopped,” the Mayor said, and the project may not be complete until the second quarter of 2013, according to the Downtown Express. Plans have stalled because of a payment dispute between the Port Authority and the September 11 Memorial Foundation, which is chaired by Bloomberg. The Port Authority claims the foundation owes it $300 million for construction costs, while the foundation asserts that the Port Authority owes it around $146 million due to delays. When the facility finally opens, most of the 11,000-square-foot museum will be located underground, in the foundations of the original World Trade Center towers.