New York Mayor Ponders Selling Brooklyn Bridge

Reuters ^ | Feb. 25, '02

[jmp702]

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NEW YORK (Reuters) - Unbelievable perhaps, but New York City's new mayor wants to sell you the historic Brooklyn Bridge.

In fact, he wants to sell three other bridges in America's biggest city -- anything to raise cash in a city reeling from the economic effects of the Sept. 11 attacks coupled with the first U.S. recession in 10 years.

Michael Bloomberg, elected mayor last year just weeks after the destruction of the World Trade Center, inherited a nearly $5 billion hole in his $40 billion spending plan, which an official in his administration said could be partly filled through the sale of the four bridges.

"The proposals (to sell the bridges) are under consideration," Bloomberg spokesman Jordan Barowitz said on Monday, declining to elaborate.

Selling the bridges is likely to generate as much opposition from elected officials in Brooklyn and Queens as the mayor's budget proposal two weeks ago to charge tolls on the bridges, which are now free.

The Brooklyn Bridge, the Manhattan Bridge, the Williamsburg Bridge and the Queensboro Bridge all span the East River and connect the boroughs of Brooklyn and Queens to Manhattan.

The toll plan could raise up to $800 million a year by 2006.

While it was not immediately clear how much the city might get from the sale of the four bridges, an arm of the New York Metropolitan Transportation Authority would be the likely buyer, Bloomberg's spokesman said. An MTA spokesman said the agency had no comment on the Bloomberg plan to sell the bridges.

New York City's tax collections took a severe hit after the Sept. 11 attacks, which came at a time when the U.S. economy was already slowing after a record 10 years of economic growth.

The air attacks not only killed nearly 3,000 people, they also led to 110,000 job losses and forced thousands of businesses to shut down.

[jmp702]

And if you believe that, I've got a ... wait a minute...

[firebrand]

He's just trying to be a good Republican. He hasn't had much practice, give him a break.

[Joee]

He can test the market by trying to sell the "TREE" first.

[razorback-bert]

The real question is who would buy the Brooklyn Bridge?

[jmp702]

I'd buy the bridge, but I'm afraid I couldn't afford the shipping cost out here to the left coast.

Well, truth is, I don't know where the hell I'd put it.

[lowbridge]

I wonder if he'll take a trade in of my swampland.

[lowbridge]

anything to raise cash in a city reeling from the economic effects of the Sept. 11 attacks coupled with the first U.S. recession in 10 years.

Privatization by selling off public property is a step in the right direction. Now he needs to slash taxes all across the board to encourage free enterprise and cut government spending....and then I'll watch hell freeze over.

[jmp702]

and then I'll watch hell freeze over.

hehe-- From your bridge, down by the swamp land...

[wheezer]

I would....I'd also wouldn't hesitate to buy the Verizano.

My two favorite bridges....worth every pennny.

[cactmh]

Actually, the taxpayers already paid for it...selling it to a company so it can charge a toll is basically double taxation. Don't forget, just because expenses go down doesn't mean taxes will be cut.

[In mourning for six years]

He can't sell it! I already own it!

[wheezer]

Actually, the taxpayers already paid for it...

Agreed, but it was one of the few times the taxpayers got the best of the bargain....Mr. Roebling built quite a bridge

Don't forget, just because expenses go down doesn't mean taxes will be cut.

Full agreement on that point.

[daviddennis]

They're going to sell it to the Transit Authority?

Isn't this like shuffling deck chairs on the Titanic? As long as it's sold to one side of government to pay the other side's bills, nothing has really changed!

D

[Clemenza]

The Verrezano is pretty to look at. It's a shame it leads to Staten Island.

Nevertheless, walking across the Brooklyn Bridge is one of the great New York expereinces, particularly if you are on a date.

[Clemenza]

Walked across the Williamsburgh Bridge not too long ago. Its amazing that that behemoth is still standing.

[Militiaman7]

How about some Denver Harbor Bonds or seaside property in Phoenix?

[wheezer]

I lived for years with the wonderful Brooklyn bridge basically coming through my front window...and loved it!!!....and with the right interior mood lighting, many young ladies found the whole set-up quite irresistable (I'm happy to say).

I even once got lucky with a young lady on top of one of the bridge towers....but that's another story. ;o)

[firebrand]

Gee thanks