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Home > Leadership > Mayor > Archived Press Releases > 2008 Archives > October 2008 > Mayor Brown Seeks To Protect Broadway Market Assets

Mayor Brown Seeks To Protect Broadway Market Assets

Source/Contact
Office of the Mayor
Peter K. Cutler
Director of Communications
716-851-5841

Preliminary Injunction Granted by New York State Supreme Court Judge Drury

Mayor Byron W. Brown today announced that New York State Supreme Court Judge Timothy Drury granted the Mayor’s request for a temporary injunction against the proposed auction of Broadway Market assets by the Broadway Market Management Corporation (BMMC). 

“Earlier today I directed the city’s Corporation Counsel to pursue all legal options available to prevent the sale of Broadway Market assets that have been purchased with public funds and I’m pleased that Judge Drury has granted this temporary injunction,” said Mayor Brown.  “It’s clear that many Broadway Market assets were acquired with public funds and I intend to protect them.  The Broadway Market is one of our city’s most historic locations and it continues to play an important role in the daily lives of our residents.  For that reason, and acknowledging the investments of Broadway Market tenants, I will do everything within my power to protect all publicly funded Broadway Market assets that contribute to the unique nature of the Market.”

In an effort to pay liabilities, the BMMC intends to liquidate much of the Broadway Market’s furnishings, fixtures and equipment assets.  However, many assets the BMMC wishes to auction off are not owned by the BMMC and pre-date their tenure as manager.  Many more of these items were either donated to the Broadway Market or otherwise funded with governmental grants, clearly prohibiting their sale without prior written consent. Other categories of furnishings, fixtures and equipment, which BMMC is not entitled to sell off include any and all items that are either attached to or otherwise affixed to the Broadway Market building.

The City of Buffalo has held ownership of the Broadway Market since its inception over 100 years ago, with management by the BMMC since 1984.  Effective October 31, 2008, the Master lease agreement between the City of Buffalo and the BMMC will be terminated and the BMMC will be dissolved. 

According to Corporation Counsel Alisa Lukasiewicz, New York State law mandates that the BMMC follow the procedures for dissolution and sale as required under not-for-profit corporation law.