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OCR Page 1 of 55LOCT 07 01:56PM DOT DEPUTY SECRETARY
P.2/3
PENNSYLVANIA STATION REDEVELOPMENT CORPORATION
A Subsidiary of Empire State Development Corporation
CHARLES A. GARGANO
Chairman of the Board
ALEXANDROS E. WASHBURN
President
TO:
Pennsylvania Station Redevelopment Corporation
Directors, Designees and Project Executive Committee
FROM:
Alexandros E. Washburn
DATE:
October 6, 1997
SUBJECT: The Week Ahead
AI the request of a Director, this weekly updare will now be faxed to the Directors as well
as to their Designees and members of the Project Executive Committee. (The distribution
list will now be found on the fax cover sheet)
Background:
Last Wednesday's Board meeting was successful, and thanks are due to the Directors, their
Designees and staff, with particular thanks to Lou Tomson as Acting Chairman The City and
Federal funding agreements are now fully executed, while the State-DOT funds have been
obligated electronically (hard copy signatures are expected this week).
Furthering negotiations with the Postal Service remains our first priority. As a result of last
week's round table meeting, the Postal Service has engaged the New York office of Hines
Interests to produce a position paper for senior Postal management on the logistics and
economics of PSRC's proposal. Hines' has 60 days to produce the report and will be meeting at
least twice weekly with PSRC and its consultants.
In Congress, the FY-98 Transportation Appropriations bill remains deadlocked over issues
unrelated to the redevelopment project.
Short-term Actions:
The quick engagement of Hines by the Postal Service makes it critical that we give Emst &
Young notice to proceed as soon as possible. If there are any outstanding issues remaining, they
should be brought to my attention.
633 Third Avenue
New York, NY 10017
212 803-3642
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