Waterfalls Made Cash Flow? City Says Art Project Brought $69 M.

Apparently waterfalls are good for business. At least that's what the Bloomberg administration says.

The Olafur Eliasson-designed set of four waterfalls that landed on New York City's harbor this past summer--the public art viewed by its critics as bulky, water-spewing scaffolding that acted as a giant defoliator to trees under the Brooklyn Bridge--cost $15 million to build, funded through the Public Art Fund.

But it's all worth it, the city said today. The project brought an additional $69 million into the city economy, the Bloomberg administration tallied, as residents and tourists poured cash into ferry boat operators, hotels and cultural institutions--cash that otherwise would not have been poured.  read more »

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