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February 25, 2006

Redefining Economic Development

Gotham Gazette:

But Michelle de la Uz, executive director of the Fifth Avenue Committee, is very clear on the practical uses for a new economic development blueprint. The Fifth Avenue Committee is one of the plaintiffs in a lawsuit to stop Bruce Ratner from demolishing six buildings en route to building the Nets stadium and hundreds of commercial and residential units over Atlantic Yards in downtown Brooklyn.

What de la Uz envisions is a set of standards for job creation, environmental impact, buy-in from the surrounding area, etc. that the city or a private developer could be held to whenever they planned to use public resources. In her opinion such a standard would have set a much higher bar for Ratner to clear before he was able to pursue the Nets Arena project. The surrounding neighborhood, in de la Uz’s opinion, would have had “real” community benefit “guarantees” instead of what she considers to be the highly questionable and unenforceable promises for job creation and affordable housing that Ratner was able to negotiate.


Norman Oder asks, "Was the Atlantic Yards plan just a few years too soon for economic development groups to get organized?" Check out TimesRatnerReport for an analysis.

Posted by amy at February 25, 2006 11:06 AM