A Word From The Publisher
A Critical Time

The Memorandum of Understanding which was released this week between the Village of Garden City and AvalonBay is a necessary step in the development process for St. Paul's. However, the steps outlined in the MOU are very complex, and it is questionable whether they can be accomplished in a timely fashion.

One of the biggest hurdles in the memorandum is that the Village will need to obtain Home Rule Legislation from the New York State Legislature before anything can proceed. We have heard from people on both sides of the debate that it will be difficult to get anything on the agenda before the end of the current legislative term, although sometimes the Legislature holds special sessions to finish up late business. One person estimated that if the matter isn't sent to the legislature by April, it won't happen this year. That's only a few weeks away.

Given the state of the economy and the real estate sector in particular, who knows what will happen in the next year, and whether this deal will still make sense to all the parties then.

The next few weeks will make a very real difference in the fate of the building.

Meg Morgan Norris

Publisher