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October 5, 2005
New York in bondage
We missed this NY Sun September 21, 2005 editorial. Thought that you'd like to know how this November's $2.9 billion Rebuild and Renew New York Transportation Bond Act of 2005 relates to Atlantic Yards.
The NY Sun editorial board cites the recent MTA approvals to sell MTA land to the lowball bidder as one reason to tell politicians that taking on more debt in the current political climate would be unwise:
Well, it would be better to sell the Brooklyn Bridge. Feature the track record of only one agency involved, the MTA. The agency has spent the past few months trying to sell of its Atlantic Yards in Brooklyn at a fraction of the assessed value. In July, the MTA discovered a surprise surplus of $833 million in its budget. It promptly proposed using half the money to build a platform over the West Side yards, after its earlier plans to sell off those yards at below-market prices failed.
Posted by lumi at October 5, 2005 7:13 AM