I thought NYC had a budget crisis?

http://www.nytimes.com/2010/04/12/nyregion/12island.html?hp After months of negotiations, New York City has reached a deal to take control of Governors Island from the state, moving a prime 172-acre piece of waterfront real estate into the hands of a land-starved city and closer to an ambitious redevelopment, city and state officials announced on Sunday. As part of the announcement, the city... [more]

http://www.nytimes.com/2010/04/12/nyregion/12island.html?hp After months of negotiations, New York City has reached a deal to take control of Governors Island from the state, moving a prime 172-acre piece of waterfront real estate into the hands of a land-starved city and closer to an ambitious redevelopment, city and state officials announced on Sunday. As part of the announcement, the city unveiled a new plan to continue to redevelop much of the island as a public park, adding amenities, green space and making improvements to the 2.2-mile promenade that offers sweeping views of New York Harbor. The city, which will be primarily responsible for developing and operatingthe island, said it has already committed $41.5 million to the project. [less]