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Paterson Makes Appointment to Port Authority Board

The New York Observer reports that Governor Paterson has nominated Stanley Grayson, the former deputy mayor under Koch, to take the place of Bruce Blakeman, a Pataki administration appointee, on the Port Authority’s governing board. The governors of New York and New Jersey each appoint six members to the board for overlapping six year terms. Last month, Paterson appointee Chris Ward assumed the head role at the agency, which may take over the Moynihan Station project.

Statement from the governor's office, courtesy of the Observer:

Stanley E. Grayson has been nominated as a Commissioner of the Port Authority of New York and New Jersey. Mr. Grayson is currently the President and Chief Operating Officer of M. R. Beal and Company, an investment banking firm focused on public finance, corporate debt and equity, fixed-income sales and trading, and financial advisory services. Prior to joining M. R. Beal in 2002, Mr. Grayson was a Managing Director and Manager of Prudential Securities Public Finance Department and member of the firm’s Operating Committee where he oversaw the public finance activities of Prudential Securities. Prior to joining Prudential Securities, from 1990 to 1996 Mr. Grayson was a Vice President at Goldman Sachs in the Municipal Bond Department’s Infrastructure and General Banking Group.

Prior to his investment-banking career, Mr. Grayson held several senior positions within New York City Government, including Deputy Mayor for Finance and Economic Development, Finance Commissioner and Chief Executive Officer of the New York City Industrial Development Agency. Mr. Grayson began his legal career in the Law Department of the Metropolitan Life Company.

Mr. Grayson serves on the Board of Directors of New York Catholic Charities, The Faith Center for Community Development, The Alliance for Downtown Business, The New York City School Construction Authority and is a Trustee of The Churchill School and Center. He received his BA from the College of Holy Cross and his JD from the University of Michigan Law School.

As a Commissioner of the Port Authority of New York and New Jersey, Mr. Grayson will not receive a salary. This appointment requires Senate confirmation.

Read “Paterson Taps Koch Deputy Mayor for Port Authority Board,” by Eliot Brown for The New York Observer


A New Director for the Port Authority

On Tuesday, the chairman of the Port Authority of New York and New Jersey, Anthony Coscia, expressed interest in taking over the Moynihan Station project - an idea proposed by Senator Schumer a few weeks back. "We believe the Port Authority is well positioned to help (the) Moynihan Station project move from architectural drawings to construction. We have financial capacity and technical know-how, and we have a proud history of building major transportation projects in the region," Coscia said.

Today, the New York Times reports that Christopher O. Ward, currently the managing director of the General Contractors Association of New York (member of the Friends of Moynihan Station), will likely replace Anthony E. Shorris as executive director of the Port Authority. A bit of background on Ward from the Times:

Mr. Ward was tapped in 2002 by a newly elected Mayor Michael R. Bloomberg to become the city’s commissioner of environmental protection, a job he held for about three years. Mr. Ward is currently the managing director of the General Contractors Association of New York, a trade group…In his previous tenure at the Port Authority, Mr. Ward was involved in devising the Port’s master plans for New York Harbor.

We will certainly have more information and analysis of the possibility of PANYNJ taking over the project as it develops.

Read “Port Authority Chief Resigns,” by Ken Belson and Danny Hakim for The New York Times