Neil deMause

The old Board of Estimate first decided back in 1965 to slice up the city into cable-TV franchise fiefdoms, a setup that has survived largely intact.

“It’s likely that this will be the second time that the city is called on to bail out Hudson Yards because of a lack of revenue.”

While it might seem petty to try to make a multi-million-dollar decision based on a technicality, that’s how the MSG tax break got enshrined—permanently—in state law in the first place.

The decades-long inaction can partially be explained by the odd nature of the tax break: It's the city losing tax revenue as a result, but the city council has no say over state law.

The financing plan includes the state fronting a large chunk of the construction bill, then getting repaid without interest over 30 years, a mechanism that could leave taxpayers on the hook.

The latest cost estimate for the project is a full billion dollars more than the original projected price tag, even after cutting the BQX route short.

'Simply banning backpacks allows for the entry of weapons that can be hidden in a purse, briefcase, or computer case,' says University of Alabama security expert Walter Enders. 'Size is not really an issue.'

The program has cost state taxpayers $6.5 billion over the last 15 years, for an economic benefit that is somewhere between negligible and negative.

In recent days, there have been indications that the plan may have hit choppy waters... thanks in part, of all things, to Amazon.

With billions of dollars at stake every year, you might expect that someone has been checking to see whether the public actually benefits from all these corporate tax breaks.

Governor Cuomo's announced shortfall is part accounting trick and part tax-shelter arbitrage by some of the state's wealthiest residents.

A brief history of the Promenade, as locals and officials battle a BQE rehabilitation plan.