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May 19, 2005

DDDb Press Release: Housing Deal on Atlantic Yards
A Good Start, But Not Nearly Enough

“Affordable Housing” Does Not Lessen Destructiveness of Ratner’s Taxpayer-Subsidized Sweetheart Deal

BROOKLYN—Forest City Ratner’s and Mayor Bloomberg's announcement today that the City will finance so-called "affordable" housing does not allay myriad concerns about the wasteful and destructive Atlantic Yards proposal, according to Develop Don’t Destroy Brooklyn.

“Ratner’s $1.5 billion subsidy has just gone higher,” said DDDB spokesperson Daniel Goldstein. “Clearly, Ratner is moving in the right direction—thanks to community opposition and ACORN’s negotiating—but low-income, working families get very little out of this so-called ‘affordable’ housing, and Ratner’s wasteful plan is still an insult to the taxpayers of New York City and State.”

The housing deal announced today by ACORN and Mayor Bloomberg stands on shaky financing ground and unknown market forces. The New York Housing Development Corporation and the Department of Housing Preservation and Development made special exceptions for Forest City Ratner beyond any subsidy they have ever offered any other developer. With the public subsidy for Ratner’s project already at $1.5 billion or more, the housing subsidy will push the public contribution closer to $2 billion. With a Brooklyn median household income of $32,000, most of the housing announced by the Mayor today does not provide nearly enough relief for the working families of Brooklyn. A housing agreement for the Ratner proposal jumps the gun as Mr. Ratner has neither acquired all the property he seeks, including the 11-acre MTA Atlantic rail yards, nor has his proposal started the state mandated approval process.

Daniel Goldstein added, "A small bone of ‘affordable' housing thrown to Brooklynites is far from enough to make Ratner’s plan acceptable. Ratner's demanding that the public waste its money on the most expensive sports arena ever proposed, huge skyscrapers in a low-rise community, unmitigable traffic jams and environmental hazards, and a shady local development corporation. All of this without any city oversight or community input, while fire, police, and schools go begging.”

"Achieving ‘affordable' housing does not require all of the destructiveness, and wastefulness that Ratner’s plan does. Yet our officials are telling Ratner, 'Have some free money! And you don't even have to provide real jobs or truly affordable housing!' That's why there's community opposition to this project from Greenpoint to Bensonhurst.”

Goldstein concluded, “This sweetheart deal is still a turkey, even if it now has some trimmings.”

Posted by lumi at May 19, 2005 9:25 PM