Today we achieved one of the most critical milestones in New York�s Olympic bid � the MTA�s approval of the Jets� proposal to build the Olympic Stadium.

We all know this has been a difficult and sometimes contentious battle.  But
it has now been resolved.  The Jets� proposal to transform these barren rail
yards into a flexible multi-use convention and meeting facility, that will
also serve as the Olympic Stadium and the home of the New York Jets, is a
triumph for the City�s future economy.  It will create thousands of jobs and
hundreds of millions of dollars in tax revenues for the City and State.

Today�s action is the major step toward fulfilling the commitment that
Governor Pataki and Mayor Bloomberg made to the IOC Evaluation Commission when they visited here last month that the Olympic Stadium project would be fully approved on schedule before the IOC meeting in Singapore on July 6.

Today�s action gives the bid tremendous momentum.  It follows the report
earlier this week that the IOC Commission has ranked New York�s technical bid at the top tier along with London and Paris.  If true, this is gratifying
recognition that we have dramatically improved our bid since last year when
the IOC�s initial ranking placed New York�s bid fourth.  Since then, we have
responded directly to the concerns expressed by the IOC, especially through
the stunning new design of the Olympic Village which is central to our bid.

I hope that you share with us the excitement of today�s approval as we pass
this major hurdle.  With 96 days to go, we still have an enormous amount to
do, including two additional approvals by key State agencies.  But we are now
perfectly positioned to build on today�s action to continue our momentum and
achieve victory on July 6.

We are grateful for all your support, encouragement and enthusiasm which has helped make today�s action possible.

Best regards,
Jay L. Kriegel
Executive Director

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