The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-07-01
MILLIONS TIED UP IN
COURT HOUSE PLAN
Abandonment n Big Loss, and
Building Cost Will BE
. Huge Sum.
so MARKET FOR SITE

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" is un.. kelly that the Board OF Est'-
,o,e VIII vote to abaHdon the Count
c,ur, House project. sell the site Tor
rs, n will bring and have the city
.o,ro, the loss with the best grace pos
Ilrn,a Comptroller Prerdergast, who II
ana thought might advocate sucn n pro-
.ramme as the neateet solution oil a
naan financial problem. has about made
m hs mind that the wiser course II to
IIncn ON and build the Cour House.
NJ p-endercast was advised yesterday
nv his chief real estate appraiser.
charles A. OMalley. that the property
constituting the site. centring at about
vaarl and park streets. could not find a
IKE, for Ave years. and that even then
:, would bring 40 per cent. less than the
.,y Maid for il, counting interest and
other charges.
II the total gross cost OF the site
.roves TO be about $4,000, 600. as esti-
mated By the Comptroller. the city would
suffer a loss of s.. 500. 900 on real estate
alone. In addition IL might have 10
nov Architect Guy Lowell every cent OF
HE contract price of $500. 900. and GER
,ainly would have to pay him a large
mart Of this amount.
81 haven't fully mad up my mind
vha, to recommend" Mr.. Prendergast
said Yesterday. This court house ques-
lion IL a very grave one. IL. as l am
| Informed, the city would lose approx
| pately s 5000, 900 by trying to retrace
\ lis steps and still have the problem OF
| finding larger and better quarters for
the county courts | should say that we
could better afford to keep on with what
We have begun.
Hard to underatand.
ct was brought up in commercial
houses and know that a first principle
a. business men confronted with sinking
more money in a losing venture is TO
re-, out quickly. pocket the loss and try
10 forget It. Theoretically. a city adj
ministration might adopt the same prin-
cip,e. Practically II is difficult. In n
business partnership this could be done
and II would be nobody's concern ex-
cent the partners. In the case OF q
city everybody is concerned. II might
be impossible to make many OF the citi-
sens understand that the administration
was doing the best thing under the cir
cumstances II II pocketed n loss OF sew
eral million dollars.
That's only one consideration. There
,s also the legal question. I think Mr..
McAneny goes too far in saying that
the whole ST.. 0O0, 900 expense of the
court house and site Is mandatory
under an act of the Legislature. The
BOARD Of Estimate did select the orig
inal site under a law Of 1911. which
authorized the court house board to dc
the selecting IL the estimate board did
not do so within six months.
But in that act there was not a WORD
~ -
site should be. As l nave said before
the city under that act could buy a site
TO cost not more than $4,000. 900 and
construct a building to cost not more
than 1000. 900. The financial obligation
was left entirely to the clty's discretion
Whatever the cost may he the city gov
ernment alone is responsible for II.
However. on May 6 the city through
the Board OF Estimate took title TO the
additional land TO be used for the Cour
House site. Such an act is ~irrevocabl'
except Oh grounds of fraud. The Esti
mate Board cannot rescind its action
The city cannot compel the sellers o
this land TO take II back. Therefore thu
only possibility II we decided to abandon
the whole project would be to put th'
property In the market and sell II at tn
first favorable opportunity"
Depends on Legislature.
Mr.. McAneny says this cannot b
done without an act Of the Legislature
As he constructs the law OF 1911. tn,
site must be used for a Court House an,
cannot be used otherwise or sold. I'm
doubtedly the Legislature would rescin,
this mandate next year II the city gov
eminent asked II to do so. but. argued
Mr.. McAneny. that would mean anothe
year of loss. with interest charge
mounting at the rate OF 5000 a day
He has asked Corporation Counsel Poll
for an opinion. He believes It will con
hrm his own belief hat the Court Hous
must be built unless the Legislator
votes otherwise.
Mr.. OMalley told the Comptrolre
Yesterday that the site could not b.
eoid now even IL the city would ant
could do II. In the last few years tn
city has dissipated a lively business
centre In the neighborhood OF Wortl
and Centre streets.
A committee made up OF Mr.. Nc
kneny, Mr.. Prendergast and Presiden
POUNDS OF Brooklyn is now figuring OF
me exact cost to the city OF the sug
ges'ed abandonment plan. In decidinl
Whether to approve the final buildlnl
pans and Specifications submitted b!
the court House Board. the Board OF rs
innate will probably be guided by tn
report OF this committee. 1t LOOKS nov
as II the committee will unanimousl.
MOIST the go ahead signal. The onl.
member OF the Estimate Board know
10 FAVOR the opposite course is Presiden
Marks of Manhattan.