 However, with the real estate market rebounding, a critical $50 million tax break was withdrawn by then-mayor Rudolph Giuliani (who saw a tax break for a property that would not draw permanent jobs to the site as unnecessary), at which point Englander's Millennium Partners walked away from the project.By 1997, there were nine bids for the redevelopment of the Coliseum site.At this point, the entire area around Columbus Circle was being redeveloped, but six separate government agencies were handling different parts of the process.