Bloomberg mulling BPC takeover

Sign Up for the undefined Newsletter

Mayor Bloomberg is actively seeking to take over Battery Park City from the state, city Comptroller John Liu told the Downtown Express yesterday. The city has long had the option to acquire Battery Park City for $1, but after recently gobbling up Governors Island and Brooklyn Bridge Park, Bloomberg has begun to seriously consider pulling a similar coup at the Downtown landfill. Liu said it remains to be seen whether the acquisition would make financial sense for the city. While the city would have to assume the community’s $1 billion in debt, it would benefit from ground rent and property taxes on the land. “No decision is imminent,” Liu said. [Downtown Express]

Recommended For You