 In August 1990, the agency announced that several improvement projects worth $500 million would need to be delayed if the coliseum was not sold by the end of 1991.Zuckerman continued to negotiate with the MTA, but faced problems when Mayor David Dinkins refused to call Zuckerman's letter of credit until just before leaving office in 1993.In early 1994, newly elected mayor Rudy Giuliani requested that a third party appraise the site, which Zuckerman wanted to purchase for $100 million.