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MTA Press Releases

Press Release
February 15, 2005
IMMEDIATE
MTA Asks For Best and Final Offers For West Side Rail Yard

MTA Chairman Peter S. Kalikow today sent letters to the New York Jets,
LLC and Madison Square Garden, LP advising the parties that the MTA is
seeking best and final offers for the development rights attendant to
the western portion of the LIRR West Side Rail Yard to be submitted to
the MTA no later than Monday, March 21, 2005. Responsive bids are expected
to be presented to the MTA Board for consideration at its March 31st meeting.

"The MTA Board as well as the customers it serves, need an expeditious
and orderly resolution of the sale of this important asset. Both parties
will be able to put their best offer on the table to the Board in a fair
and open process. This should allow the Board the necessary information
to make its decision in the best interests of the riding public," Kalikow
said.

In his letters, Chairman Kalikow notified both parties that bid documents
with all necessary ground rules will be provided to them on Tuesday, February
22nd, and will be place on the MTA website (www.mta.info),
and will be provided to any interested parties.

All bids must be based on a "where is, as is" analysis of the yards
and will require the posting of a letter of credit. Kalikow added, "If
other developers are interested in bidding, they too must comply with
the same ground rules contained in the bid documents."