> using the prominence and cultural significance of the building as a bargaining chip to force them to subsidize the renovations.

Pretty much. I'm not even sure I'm mad the city and the state flinched first in the game of chicken. Waiting for the owner to just give up probably wastes another decade and I'm not even sure there's a way it costs less.

Not saying this was the best or even a good deal, but there were never going to be any good options.