2006_06_penstat.jpgBut a schedule does not mean things will happen the right way. NY State officials and the private developers have agreed to project's schedule, which means construction will start this fall, in anticipation of a 2012 opening. However, not all the i's are dotted, as there still needs to be formal approval from Albany. And then there's that whole thing about whether or not Madison Square Garden will move in the Farley Post Office space as well. amNew York lists "who's paying what" for the project, and the breakdown is thus:

Developers: $313.76 million
Federal Government: $115.9 million
NY State Government: $85.8 million
New York City Government: $154 Million
MTA: $35 million
Port Authority: $145 million
Total: $849.46 million

Well, no wonder Charles Gargano is so hot for the project to start - at this point, the state is only giving up $85 mill! The plan to combine Madison Square Garden with Penn Station once again has been debated at length, but earlier this week, the Times had a feature on how rich the developers selling the plan will be if it goes through. Just because Gothamist hates the history of what happened to the original Penn Station, we liked this quote from the NY Landmarks Conservancy's Peg Breen, who said that moving MSG to the Farley Post office was like "Cinderella's step sisters trying to jam their feet into the glass slipper."