The investor group, Plaza Capital Group Management, responded to an August 2011 request for bids from New York City's Economic Development Corp. to develop two parking lots next to the terminal and on both sides of the Staten Island Yankees stadium.

WSJ: Ferris Wheel Eyed for Ferry Terminal

Exploiting a state redevelopment act that allows municipalities to extract extra tax money by developing depressed areas, Industry declared 80% of the city land blighted by 1974, allowing the city to sell that land to any developer of its choosing without putting out a request for public bids.

FORBES: City of Greed