From the Daily News:
Battling a plan to designate the canal a federal Superfund site, the Bloomberg administration is trying to convince the U.S. Army Corps of Engineers to help pay a portion of the $150 million pricetag to dredge the entire canal.
City officials are also pinning their hopes on getting canal polluters to voluntarily pitch in and pay to clean up the high levels of coal tar, PCBs and heavy metals that are in the waterway instead of facing years of litigation under the Superfund program.
But a top federal environmental official said the city's plan to get financial help from the Army Corps and private polluters is unrealistic.
City officials are scrambling to come up with an alternate cleanup plan to avoid having the canal placed on the Superfund list - a lengthy process that could take decades to complete and could drive away $400 million in private development planned for the banks of the canal.