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Bloomberg Gives $74M Ice Facility 'Sweetheart' Operations Deal

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Copyright 2013 N.Y.P. Holdings, Inc.
All Rights Reserved

The New York Post
November 11, 2013 Monday
All Editions; Pg. 2
202 words
Mike leaves park group a lot of green
Rich Calder

It's a farewell gift to the operators of Brooklyn's Prospect Park - courtesy of Mayor Bloomberg.

The city is planning to set up the Prospect Park Alliance with a sweetheart deal to operate the park's new 26-acre, $74 million Lakeside Center ice-skating facility after the nonprofit raised $19 million in private funds to help build it, The Post has learned.

Lakeside Center, set to open in December, is expected to generate a huge infusion of revenue.

The 585-acre park has been pummeled by budget cuts recently, slashing revenues the group saw when it ran the park's former Wollman Rink a few years ago.

"This is an extremely extravagant parting gift from the mayor," said Geoffrey Croft, of the group NYC Park Advocates. "This deal could possibly be worth tens of millions of dollars for the alliance over the life of the agreement."

Under the 17-year licensing deal, a copy of which was seen by The Post, the alliance won't pay a cent for the first year . It would pay a flat rate of $100,000 the second year and see slight annual increases, bringing its rent up to a maximum of $116,097 2030.

The deal was expected to be approved Tuesday by the city's Franchise and Concession Review Committee.

November 11, 2013

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