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April 23, 2008, 01:18 PM ET
Commission Allows Institution to Rename Flagship Building for Donor
The New York Landmarks Preservation Commission agreed yesterday to a controversial change to the name of the New York Public Library’s main building — permitting it to become the Stephen A. Schwarzman Building, The New York Times reports.
The final move in a contentious battle, the commission’s unanimous vote yesterday overcame the last impediment to making the first substantive changes in a century to the facade of the building’s 42nd Street entrance.
The flagship building, a much-beloved New York landmark, is being renamed for Mr. Schwarzman, a Wall Street financier, who pledged to give the institution $100-million in March. The money will be used to support a $1-billion overhaul of the library system. Mr. Schwarzman serves on the library’s Board of Trustees.
Some opponents of the proposal worried that it could set a dangerous precedent. Others said that while they did not oppose honoring Mr. Schwarzman for his gift, they thought the library’s approach was excessive.
The newspaper could not reach Mr. Schwarzman, who spoke with The Chronicle of Philanthropy last month about his pledge to the library.
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