Table of Contents Critical Juncture for Hudson Yards Plan 2004 Industry Recognition Dinner Honor Charles DeBenedittis, Jeffrey Levy and Joseph D'Angelo CMTA Chairman Touts Expansion: Says $17 Billion in Maintenance is Imperative NYBC & Leading Officials Discuss The Capital Question Report Predicts Success for West Side Stadium WTC Update

An important study, commissioned by the Building Trades Employers' Association (BTEA), the Building & Construction Trades Council of Greater New York (BCTC) and the New York Building Congress as part of its joint effort – the Hudson Yards Task Force - concludes that the New York Sports and Convention Center (NYSCC) will spur economic and local development.

The four-month study of recent stadium projects across the United States found a number of
elements that are pivotal in predicting success and also found that each has been incorporated into New York City's current proposal.

Conducted by Dr. John H. Alschuler, president of Hamilton, Rabinovitz & Alschuler, Inc., the study found that Heinz Field in Pittsburgh, PETCO Park in San Diego and Jacob’s Field and Gund Arena in Cleveland were the most relevant test cases to New York. These projects, have been successful in attracting private development, spurring investment in infrastructure and reviving derelict districts. The report found that the projects shared the following common elements, all of which are present in the NYSCC plan:

• The stadium was part of a comprehensive plan;
• The private economy could create new economic activity;
• The plan created or respected adjacent development sites;
• The stadium was connected to the urban core by pedestrian or transit links;
• The stadium was part of a mixed use project with multiple destinations;
• There was related public investment in parks and amenities to anchor development.

This report answers those who say there is no precedent for the New York Sports and Convention Center to succeed,” said Building Congress President Richard T. Anderson. “It
clearly shows that a number of such projects are doing very well generating economic
activity and rejuvenating neighborhoods.”

Added BTEA President Lou Coletti, “There is one overriding question in the debate over the New York Sports and Convention Center: Is this project good for New York City? The answer,
in terms of economic development, is emphatically, yes.”

BCTC President Edward J. Malloy noted, “This report makes it clear that we have made the
right decision because when you actually look around, cities utilizing this approach are
experiencing success.”