Grass To Grow In Concrete Plant Park

Later this year, a 2.7 acre plot of land in the Bronx will be transformed from a deserted concrete plant to beautiful parkland along the Western shore of the Bronx River. The land has been abandoned since 1987. This is great news for the residents of the area and worth the $10 million to make it happen. Now, the city also has 7,600 acres of contaminated land scattered throughout the five boroughs. Mayor Bloomberg has asked Albany for financial aid to clean it up. No surprise, it’s been slow in coming. To speed things along, the mayor wants developers to be responsible for cleanup on sites and most significantly, released from any liability. Say what? Problems may arise down the road. Albany should think twice before granting carte-blanche approval to cart toxic waste. NYC acreage should not be reclaimed without responsibility.

OTB May Finish Out Of The Money in 2008

Mayor Bloomberg said OTB could be done with horse racing by June of 2008. It’s simply not making enough to keep it “in the money.” To his credit, the mayor doesn’t want city taxpayers to pay any increase to subsidize OTB. That’s because the present revenue sharing agreement with Albany takes too large a cut from the city. It’s their piggish percentage that is making OTB unprofitable for the city to keep as a “cash cow.” If Albany refuses to change an unfair revenue sharing plan with the city, the city’s only legal bookie may be on the unemployment line. The mayor is right to play hardball with the governor over this issue. They need the racing revenue upstate. They’d be wise to take millions less rather than collect nothing at all. Hmmmmm. Politicians in Albany being wise? OTB may truly be on it’s last legs. Stay tuned.

Don’t Bet On OTB Winning A Fixed Race

In 2006, the city’s Off-Track Betting Corporation had a gross profit of $125 million dollars. A very tidy sum indeed to spend within the five boroughs. Unfortunately, the now four year old revenue sharing deal with Albany somehow netted the state $134 million dollars on that $125 million gambling surplus. Believe it or not, we owed $9 million on top of the $125 million they already took from us!

Dracula knew how to sip on a neck and not gulp. He didn't completely drain his victims to leave them dead. He managed his resources more intelligently than those controlling the bottom lines now. OTB is looking very pale.

Someone up in Albany has to realize you can’t beat a dead horse to cross the finish line. It has no incentive or life. OTB is in a similar state. Under the present financial system, we can’t win in our place, when we have nothing to show for it in the end. Either the state government should restructure the deal to overwhelmingly benefit New York City or the city should put OTB out to pasture until more reasonable minds prevail.