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July 27, 2005

MTA Asks Ratner To Sweeten Bid For Atlantic Rail Yard

NY1

Coverage of the MTA's vote to enter into a 45-day exclusive negotiation period with Ratner:

The MTA has a mandate to get as much for the property as it can, and several board members said while they preferred the Ratner plan over Extell’s, his price was too low

Extell said in a statement it was disappointed the MTA decided to enter into exclusive negotiations with Ratner, and believe they should also have a chance to change their bid.

Ratner says he was pleased with the MTA's decision, and looks forward to providing even more benefits for the agency, transit riders and the surrounding communities.

report (dialup/broadband)

Posted by lumi at July 27, 2005 8:49 PM