MTA Seeks Best Offer for Rail Yard Development Rights

NEW YORK CITY-The MTA is seeking the best and final bids for development rights for the western portion of the Long Island Rail Road West Side Rail Yard. Some are saying it’s a step in the right direction, but question whether a fair market value can be achieved.

MTA chairman Peter S. Kalikow sent letters to the New York Jets and Madison Square Garden that asks for bids to be submitted no later than Monday, March 21, 2005. Those bids are expected to then be presented to the MTA board at its March 31 meeting. Bid documents will be provided to the two parties and other interested parties on Tuesday.

For more than a year, the MTA has been negotiating for the potential development of the site with the Jets and the New York State Empire State Development Corp. MSG subsequently made an unsolicited $600-million proposal to acquire and develop the LIRR West Side Rail Yards.