02/13/2013
On February 12, New York City Comptroller John Liu announced his office's most recent audit of the lease agreement between the City and the Marriott Marquis Hotel that drastically reduced rents for the Times Square hotel and permits the Marriott Marquis to purchase the land at a deep discount when the lease expires in 2017. The Comptroller urges the Economic Development Corporation to renegotiate the terms of the lease, or the deal will cost taxpayers nearly $345 million.
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