Page 471 - Demo

s i r TThe ABC%u2019s of Picking A High School rv^TJ S MW a w T a p q I ^ p H a a I c F a r a d In ^ ia n d a r d iT a n T actc * * v %u00bb %u00bb J U W M 1 t ^ V K V / V l I U Jft. %u00ab*.M JO B K^r *,++**'**.+%.* iNews Of the Private Institution*Administrators Tell What%u2019s In S^ .v . m o m. v u i iThe EconomyOf CrackBorough President Holds InfoMeeting For Task Force, Page 3Congress HopefuisTrade New ChargesFull Coverage Of Owens/InnisRace And Local Races, Pages 6,7Health, HospitalsSays Yes To BoroCity Agency Gives ATURA PlanThe OKay, Page 4P K s%u00a9 e M XNew Life InThose Old BoardsA Photo Trip Through A BoroLandmark PlaygroundPage 9Weekend InProspect ParkProspect Park Was Busy WithMusic And Theater, Page 27Boro Hall's Budget NightmareiBoard Of Estimate Approves Millions To Continue ConstructionBY TRACY GARRITYThe Board of Estimate has approved payment of nearly $2 million in cost overruns to complete the restoration of Borough Hall %u2014 a project that is more than a year behind schedule and one third over budget. In total, five items were approved by the board at its August 14 meeting, totalling $1.9 million in extra construction costs.The most hefty chunk of the overrun cost is $707,230.80 for Thom ason Industries Corporation for general construction work. According to a spokesperson for the Department of General Services, and the calendar item adopted by the Board o f Estimate, the extra costs were the result of %u201c design errors%u201d by the design architects, Conklin Rossant.William Conklin, a partner in the design firm, said last week, however, he is unaware of any charges. %u201c I have heard no complaints about the project,%u201d he says, although the City%u2019s Department o f General Services has turned over a list o f design errors to the City Corporation Counsel for possible litigation.Conklin blames the overruns on the State Law that requires that each part of the project be turned over to a different contractor. %u201c There is no one contractor coordinating the construction,%u201d he said. %u201c The Wicks Law (requiring that each seperate contract involved in the project go out to bid) is the Borough Hall as it looked in March, 1986, the same month itwas supposed to be finished. (Phoenix/Rosenstock Photo)W all Street Firm Signs Letter O f Intent For Metrotech SpaceBY TRACY GARRITYSecurities Industry A utom ation Corporation (SIAC) the firm that handles back office operations for the nation%u2019s two m ajor stock exchanges formalized its intention to move its corporate headquarters to Brooklyn by signing a letter o f intent to occupy a building at the downtown M etrotech complex. Jerom e Kessler, a partner in Forest C ity/M etrotech Associates said the letter of intent, signed August 22, is the first agreement in writing for the $500 million Phase I of the project.SIAC President Charles M cQuade announced the com pany%u2019s intention to move to Brooklyn in early April as the first private corporation to move to the high-tech complex sponsored by nearby Polytechnic University. The Brooklyn Union Gas Company has also announced an intention to move to the complex, but has yet to sign a letter of intent, according to a spokesman for Forest City/M etrotech Associates.The 400,000 square foot building (bordered by Lawrence and Duffield Streets) will be designed bySIAC to adhere to its data processing needs. SIAC will occupy roughly 250,000 square feet of the building, with an option to lease additional space in the future. The building, with a 1987 construction start date, will cost roughly $88 million.By relocating from M anhattan%u2019s Financial district, SIAC will benefit from several financial perks, including a 30 percent reduction in the commercial occupancy tax, saving from an energy reduction program, and $10 million in surplus Municipal Assistance Corporation funds reserved for commercial development outside o f M anhattan. In addition, the City announced its intention to apply for $7 million Urban Development Action Grant (UDAG) to help offset the cost of the building.The M etrotech complex will be built in two phases over 10 years, with a total price tag o f $770 million.A spokesperson for the developer said certification of the project would be complete by the end o f August, clearing the way for the Uniform Land Use Review Procedure to follow in upcoming months.