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Old Posted Jul 24, 2024, 1:41 AM
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Quote:
Originally Posted by ChiND View Post
NY Guy,

Does this mean that the Related/Wynn proposal is dead?

https://therealdeal.com/new-york/202...asino-project/
Quote:
Originally Posted by Sky88 View Post
I don't think so, but the project will have to be modified.

No and No. Firstly, there has been no proposal submitted yet. The state's approvals process won't begin until next year, which as I've said already is thanks to the governor's inaction. Both houses of government in the state amended the timeline to have proposals submitted by next month, but the governor didn't sign off on it. So now they will be due June of next year.

The 6 member committees (each proposal will get one) will then be assembled, with each member representing a branch of government (local and state). 4 of 6 members need to give approval for and proposal to move forward and go before the state board.

What's moving through approvals now is the various local (city) approvals needed before a bid can even be submitted. In other words, you have to have a site to put a casino before you can propose to build one. Now, this was an uneccesary step placed by the governor. Previous state approvals only needed to be approved by the state (the casinos are state developments).

So basically everything that's being said now is a lot of noise. The city will approve the locations for the casinos - those that it can (any proposal on park land would have to be approved by the state) because it wants the casinos to be located in the city. Next year is when the real action begins.



This is how the timeline now stands:







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