http://www.nytimes.com/2010/04/12/ny...island.html?hp
City Takes Over Governors Island
By A. G. SULZBERGER and MICHAEL BARBARO
Published: April 11, 2010
After months of negotiations, New York City has reached a deal to take control of Governors Island from the state, moving a prime 172-acre piece of waterfront real estate into the hands of a land-starved city and closer to an ambitious redevelopment, city and state officials announced on Sunday.
As part of the announcement, the city unveiled a new plan to continue to redevelop much of the island as a public park, adding amenities, green space and making improvements to the 2.2-mile promenade that offers sweeping views of New York Harbor. The city, which will be primarily responsible for developing and operatingthe island, said it has already committed $41.5 million to the project.
The proposed redevelopment of Governors Island would be a major contribution to the physical legacy of the Bloomberg administration, which has made the expansion of public parks a priority. It also may reinforce the mayor’s reputation for using the troubled economy to wrest control of coveted items from the state portfolio.