From the NY Post:
The head of the Port Authority blasted a Queens nonprofit for failing to develop property that it bought with $2.7 million in taxpayer cash.
Patrick Foye said the PA, which paid for the purchase, would confiscate the property if the Greater Jamaica Development Corp. does not move swiftly to develop it, The Post has learned.
“I am deeply troubled by the lack of progress by the Greater Jamaica Development Corp. over the past 10 years at Jamaica Station,” Foye said. “The people of Jamaica deserve better.”
A Post investigation revealed last month that the PA gave Greater Jamaica $2.7 million in 2004 to buy a rundown market near the Jamaica LIRR and AirTrain stations and turn the site into an office building for JetBlue or other tenants. If nothing happened by the end of 2008, the PA was to get its money back or get the building.
Foye said that after a 45-day review — prompted by the Post exposé — Greater Jamaica would get one last chance to develop the property. It uses the Sutphin Avenue building for meetings and rented a portion to a car service.
The PA also wants Greater Jamaica to conduct a competitive search for a developer by Aug. 20 and set up a timetable for the project. Construction must begin by first quarter 2013, or the PA would take the building.
A spokesman for Greater Jamaica said it was “cooperating fully with the PA and expects to have a developer in place within 180 days.”
Wednesday, February 29, 2012
Warning issued to Greater Jamaica Development Corporation
Posted by Queens Crapper at 12:38 AM
That group is nothing but a money pit. Audit please!
Jamaica still has not changed for the better in over 30 years.
Where has all the gone??
The Jamaica area from around Sutphin Blvd. to 168th Street along the Jamaica Avenue corridor is a smoking hot real estate market. Don't say it hasn't changed in 30 years because it has never been so expensive as it is right now.
Are you kidding? Jamaica is a happening place!!
Carlisle Towery, the Savior of Jamaica.
Carlisle Towery for Mayor.
Here we go again. The PA as a real estate organization.
Ain't the only business group that has fun with real estate.
Carlisle Towery is incompetent. His famous quote during the past 30 years that he has been bilking taxpayer money has been "stemming the deterioration of jamaica".
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