September 30, 2005
Critics Say Ratner Is Bankrolling Suppoters
The NY Sun
by David Lombino
BUILD's attorney does damage control:
The attorney that submitted BUILD’s application to the IRS, Sharai Erima, told The New York Sun that the $5 million in projected contributions from Mr. Ratner had been determined without consulting the developer.
Mr. Erima said the IRS application was an attempt to match the projected cost of the programs the group wanted to administer with an expected revenue stream from the most logical source — the project developer.
“We had a budget, what we proposed the programs would cost,” Mr. Erima said. Based on other community benefit agreements, he said he thought the developer generally provided the money for community programs.
Mr. Erima, who appeared to be angered by yesterday’s press conference, where he interrupted Mr. Goldstein more than once, said the salaries of BUILD’s officers were projected for 2005 and 2006 and had not yet been paid. The IRS statement showed three salaries of more than $100,000.
NoLandGrab: Contrary to Mr. Erima's assertion, groups that negotiate CBA's with developers DO NOT receive developer funding. That's bogus.
The C.B.A. stands for Cadillac Buying Allowance. There's no point in calling it a "community" agreement when the developer handpicked the groups and the leaders of the groups stand personally to fianancially gain from the agreement.
Posted by lumi at September 30, 2005 6:06 AM