Sidewalk Labs CEO Dan Doctoroff with a rendering of Alphabet’s project in Toronto (top) and Hudson Yards (bottom). (Credit: Sidewalk Labs and Twitter)Alphabet, Google’s parent company, may look to Hudson Yards as a model for how to finance an 800-acre urban hub along a downtrodden part of Toronto’s waterfront.Sidewalk Labs, a Google sister company, is exploring options that could include selling bonds backed by tax revenue and development charges from the commercial site, Bloomberg reported. The model could be similar to part of the $25 billion plan for Hudson Yards: Investors funded about $3 billion worth of special-purpose Hudson Yards Infrastructure Corp. bonds that went to the development of the 7 subway line and other infrastructure.“We devised this approach, which said, we’ll go to bondholders and get them to put up the money on the hope that there would be development in the area,” CEO Dan Doctoroff told Bloomberg. “We will devote all of those incremental tax revenues and some other related revenue streams to the payment of debt service on the bond.”ADVERTISEMENTDoctoroff, who spearheaded Hudson Yards’ development as a deputy mayor, says the area has the same need for a light-rail link to the Toronto development. The bonds would be issued by a special purpose corporation, he said.The company is controversially also weighing a proposal to take a cut of property taxes, development charges and increased land values in the project to help cover infrastructure costs that could total $4.5 billion over the next 30 years.Sidewalk Labs plans to submit an official proposal in the next three months or so, the report said. It includes first revitalizing a 12-acre neighborhood, called Quayside, which would include a new Google campus.The firm has held some “very preliminary” conversations on financing with several pension funds across Canada and is working with a number of investment banks. [Bloomberg] — Meenal Vamburkar This content is for subscribers only.Subscribe Now
Tags: World Driving Championship take place in Germany this week 11 September 2019, 12:39 Home » Disciplines News » Other Disciplines » Carriage driving news » World Driving Championship take place in Germany this week Team Ireland Equestrian will be represented at the World Driving Championships at Drebkau (GER) this weekend. The FEI World Championship of two-in-hand (pairs) kicks off on Thursday, with 20 nations set to compete.On the showjumping circuit, Irish riders will fly the flag at St Tropez (FRA), North Salem New York (USA), Macon Chaintre (FRA), Paderborn (GER), Busto Arsizio (ITA), La Bagnaia (ITA), Kronenberg (NED), Bonheiden (BEL) and Jardy (FRA). In eventing, action takes place at Gatcombe Park (GBR) and, in dressage, at Ornago (ITA).All Irish international entries for this week’s shows are now available to view by clicking on the individual shows under ‘FEI Entries & Results’. Live links to results from this week’s shows are also available. Follow your Team Ireland Equestrian riders on the HSI website, Facebook (Team Ireland Equestrian) and Twitter (@TeamIRLEq).
Gareth Bale has been ruled out of Wales’ crunch World Cup qualifiers against Georgia and the Republic of Ireland.Bale’s fitness has been a source of concern for Wales since he suffered a calf muscle strain against Borussia Dortmund in the Champions League last week.The 28-year-old missed Real Madrid’s LaLiga clash with Espanyol on Sunday night but reported to the Wales camp the following morning.Bale attended the FAW Awards on Monday night but will not be fit enough to play in the two qualifiers which will determine Wales’ World Cup ambitions. Real boss Zinedine Zidane reported last weekend that Bale was suffering from “muscle fatigue”, but added it was “nothing important”.“He could have played with us (against Espanyol) but I preferred to leave him out as he had a small complaint,” Zidane said on Sunday.“He’s fine. After so many games at the start of the season and four months of injury, he was suffering after the game in Dortmund.”But Bale has felt enough discomfort to withdraw from the Georgia game in Tbilisi on Friday and the visit of the Republic to Cardiff three days later.Wales are currently in second place in Group D, four points behind leaders Serbia and one point above the Republic.Two wins are likely to guarantee them at least a place in next month’s play-offs.Bale’s absence could open the door for Liverpool teenager Ben Woodburn to make his first Wales start.The 17-year-old made a dramatic introduction last month when he scored the winner within five minutes of coming on as a second-half substitute against Austria.Three days later Woodburn made another huge impact from the bench when he set up the first goal in Wales’ 2-0 win in Moldova. Gareth Bale has delivered a major blow to Wales’ World Cup hopes 1