If you are a PACB
shareholder who purchased your stock pursuant or traceable to the Company's Initial Public Offering on October 27, 2010 (the "IPO") or from J.
must unanimously approve any major projects in the state that involve financing from various public authorities which, in the case of Atlantic Yards, is the Empire State Development Corporation.
That project also was crushed by a vote of rejection by Silver at a PACB
MSG was influential in helping along the rejection of the Jets stadium plan for the far West Side, which also was crushed by Silver and the PACB
Silver had voiced problems with the current project plan since it was first brought before the PACB
in August, forcing it to be postponed twice and failed to show up to a special PACB
meeting on October 13 scheduled by the governor in an effort to expedite approval.
Silver skipped a special PACB
meeting last Friday that had been called by the governor to specifically consider the Moynihan project, a strong indication, many say, that the powerful state politician who shot down the West Side Stadium with his PACB
vote last year, will either veto the station plan or cause it to be again postponed.
Silver's contention that the development of Moynihan Station cannot be considered merely a phase in a greater plan is widely expected to play out at today's PACB
meeting in either a rejection or postponement of the project.
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I met with the developers, they showed me a plan that's not the plan being presented now, they showed me the bigger plan," said Assembly Speaker Sheldon Silver, a member of the PACB
who postponed consideration of the project at the board's August 18 meeting.
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said Hevesi in a letter to the PACB
dated August 17, the day before its last meeting.
The postponement came after Assembly Speaker Sheldon Silver, who has a representative on the five-member PACB
, stated that he needed more time to review various components of the project, including its financing structure and its proposed partnership between the public and private sectors.