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September 6, 2005
ONE MILLION DOLLARS (BWA-HA, HA, HA, HA, HA)
The Independent Budget Office (IBO) predicts a potential upside of for NYC of ONE M-I-L-L-ION DOLLARS a year for the Atlantic Yards project. That's what $100 MILLION DOLLARS will buy New Yorkers.
And get this — the report predicts a net financial gain by banking that NEW JERSEY Nets fans will cross the border to spend millions of dollars in Brooklyn instead of Jersey.
The IBO report also falls short by not examining the costs associated with traffic and additional city services such as police, fire, sanitation and schools.
Brooklynites have been subjected to enough irony and comedy since this project was annouced nearly two years ago. What taxpayers needed from the IBO report was clarity, not fantasy predictions and obfuscation.
Nevertheless, based upon the assumptions of the IBO report, taxpayers have to wonder if even modest benefits outweigh the need to force people out of their homes.
Posted by lumi at September 6, 2005 7:02 PM