Quote:
Originally Posted by pmacdaddy
Nick,
I believe NYRA is now a Not-for-Profit organization, no longer a state entity. Accrodingly, they can certianly access working capital given collateral and cash flow. However, the current state of limbo leaves them with much on neither...
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I am not positive, I believe they are still a municipal not for profit corporation. And yes, when they deeded $1 billion worth of land to NY State they certainly compromised their collateral, not to mention having just come out of bancruptcy does not help either. Regardless, as a not for profit there is no room in the budget for interest. I still don't know where the money to pay that is supposed to come from.
05-21-2010, 04:51 PM
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