Not much progress has been made on the long-term development of Governors Island since the city took control of it last year, but now the city's ready to put in $260 million to get things rolling. First up are infrastructure improvements, to be done by 2014, such as restoring the seawall and some of the historic buildings. Then comes the harder task of finding a tenant. Possibilities: a hotel and conference center or?the idea that's been most frequently thrown around?a school. Paging NYU. [WSJ]
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