The rink was closed in 1980 for a proposed two years of renovations at $9.1 million. Six years after the problem-plagued work was still not completed by the city, Donald Trump persuaded Mayor Ed Koch to let him complete the work in four months at $3 million in order to have it open by the end of the year. Koch initially objected but later agreed. Trump finished the job in the promised four months at a final cost 25% below the budget and for no profit.
I’d love it if Mr. Trump threw down that card in a tweet concerning the project, and why he’s shutting down the financing pending renegotiating.
People forget Mr. Trump has a better idea than most politicians about all the costs of construction. He’s been at it a while.