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http://www.reuters.com/news_article.jhtml?type=politicsnews&StoryID=632211

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New York Mayor Ponders Selling Brooklyn Bridge

February 25, 2002 08:00 PM ET


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NEW YORK (Reuters) - Unbelievable perhaps, but New York City's new mayor
wants to sell you the historic Brooklyn Bridge.

In fact, he wants to sell three other bridges in America's biggest city --
anything to raise cash in a city reeling from the economic effects of the
Sept. 11 attacks coupled with the first U.S. recession in 10 years.

Michael Bloomberg, elected mayor last year just weeks after the destruction
of the World Trade Center, inherited a nearly $5 billion hole in his $40
billion spending plan, which an official in his administration said could be
partly filled through the sale of the four bridges.

"The proposals (to sell the bridges) are under consideration," Bloomberg
spokesman Jordan Barowitz said on Monday, declining to elaborate.

Selling the bridges is likely to generate as much opposition from elected
officials in Brooklyn and Queens as the mayor's budget proposal two weeks ago
to charge tolls on the bridges, which are now free.

The Brooklyn Bridge, the Manhattan Bridge, the Williamsburg Bridge and the
Queensboro Bridge all span the East River and connect the boroughs of
Brooklyn and Queens to Manhattan.

The toll plan could raise up to $800 million a year by 2006.

While it was not immediately clear how much the city might get from the sale
of the four bridges, an arm of the New York Metropolitan Transportation
Authority would be the likely buyer, Bloomberg's spokesman said. An MTA
spokesman said the agency had no comment on the Bloomberg plan to sell the
bridges.

New York City's tax collections took a severe hit after the Sept. 11 attacks,
which came at a time when the U.S. economy was already slowing after a record
10 years of economic growth.

The air attacks not only killed nearly 3,000 people, they also led to 110,000
job losses and forced thousands of businesses to shut down.



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