Bruno picks Nigro for seat on NYRA
May 15, 2008
The head of one of the Capital District’s largest commercial development firms might be joining New York Racing Association’s board of directors.John Nigro of Colonie is a New York State Senate-designated appointee, chosen by Majority Leader Joseph L. Bruno, R-Brunswick, who has also tabbed John Hendrickson, the husband of Saratoga Springs socialite Marylou Whitney, for the board.
The board’s entire makeup and NYRA’s franchise plan, which the Legislature has already approved, must still be ratified by a federal bankruptcy court, tentatively scheduled for June 30.
Nigro was one of Bruno’s appointees to the state Ad Hoc Committee on the Future of Racing, which in November 2006 recommended that Excelsior Racing Associates get the state’s next racing franchise. NYRA finished last in that voting process, but Nigro said Wednesday that it, too, would have made a suitable choice.
On Feb. 13, the state Legislature awarded NYRA a new 25-year franchise, which has yet to become official as it goes through the legal steps of getting out of bankruptcy.
Previously, NYRA’s board had 28 members — 20 of its own members and eight political appointees. The new board, which has yet to organize, will have 14 NYRA members and 11 political appointees. Bruno and Assembly Speaker Sheldon Silver have two picks and Gov. David Paterson has three. Paterson and Silver have yet to name their board choices.
Paterson must also approve four other members representing horsemen’s, breeders and labor groups and Off Track Betting.
“Certainly I respect the folks at NYRA who have been there for many years,” Nigro said.
Nigro is also on the boards of Saratoga Performing Arts Center, Albany Medical Center Hospital and the Capital Region Youth Tennis Foundation.
Nigro said that fiscal responsibility and transparency should be NYRA’s highest priorities. He also said that NYRA should be guaranteed sufficient revenue from Aqueduct’s proposed video lottery terminal facility, which is expected to open in 2009.
Clearly, Bruno tabbed Nigro because of the financial experience and expertise he’ll bring to NYRA’s new 25-member board. Nigro Companies specializes in shopping center development and owns and manages several million square feet of commercial space within a 250-mile radius of Albany.
Source: Troy Record
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