NYC Comptroller Scott Stringer. Image credit: Office of the New York City Comptroller

Comptroller’s audit finds that the City has fallen substantially short in its duty of overseeing Privately Owned Public Space agreements, including agreements with Trump Tower, Trump International Hotel, and Trump Plaza. On April 18, 2017, the Office of the City Comptroller Scott Stringer released a report of an audit of how adequately the City oversees Privately Owned Public Space agreements with developers and building owners. Privately Owned Public Space agreements are created by developers in exchange for the City allowing the developer to construct taller and denser buildings than would otherwise be allowed by zoning regulations. The agreements create outdoor or indoor spaces that are required to be open for public use and maintained by the developers and owners of private buildings. Currently there are 333 Privately Owned Public Spaces in New York City, totaling 23 million square feet of additional floor area allowed in exchange for the space. To read a previously published CityLand Commentary on Privately Owned Public Spaces, click here. (more…)