MTA chairman Peter S. Kalikow asked for bids to be submitted no later than 5 p.m. Monday, March 21. The three accepted bids--TransGas, an energy firm constructing also made an offer on the site--are expected to then be presented to the MTA board at its March 31 meeting. On Monday, the MTA posted an addendum stating that a prospective bidder requested that the deadline be extended to 5:00 p.m. on April 15, but the deadline was not extended.

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. The Jets have proposed using it for the New York Sports and Convention Center. MSG subsequently made an unsolicited $600-million proposal to acquire and develop it. "The MTA board, as well as the customers it serves, need an expeditious and orderly resolution of the sale of this important asset," says Kalikow.

Madison Square Garden unveiled its $600-million proposal for transforming the West Side Rail Yards into "a vibrant, multi-faceted neighborhood that addresses the vital needs of the community." The proposal includes adding nearly 6,000 new residential units for low- to moderate-income New Yorkers, a public school, library and a 750-room hotel. It also involves creating a public five-acre park that opens up Manhattan's west side with a promenade that connects 11th Avenue to the Hudson River waterfront. It would also create commercial space for designers, artists and producers to support nearby theater productions as well as retail space along Eleventh Avenue.