« Independent Budget Office releases analysis of Atlantic Yards and solicits comments | Main | ONE MILLION DOLLARS (BWA-HA, HA, HA, HA, HA) »
September 6, 2005
$1 Million a Year
The Real Estate Observer
by Matthew Schuermann
A report today by the city’s Independent Budget Office found that the proposed Atlantic Yards basketball arena would net (hee-hee) the city about $1 million a year. The upshot: a little political cover for project supporters, though its opponents are claiming victory, too.
In other words, what the city loses from its $100 million donation—plus some other goodies—it would make up over 30 years in sales and incomes taxes. (Those are taxes from all the players, team execs and spectators, mind you, not the developer, Forest City Ratner.)
Also, Crain's New York Business, City releases forecast for Brooklyn arena
Posted by lumi at September 6, 2005 6:53 PM