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March 27, 2006

Atlantic Yards Report: Catching up

Since the Atlantic Yards Report was on hiatus for two days, Stormin' Norman Oder spent the weekend catching up.

Will lawyer for ESDC remain disqualified? Tough to tell

The Empire State Development Corporation (ESDC) hired "provisional counsel" while the Appellate Court decides whether or not David Paget's employment by both Forest City Ratner and the ESDC is a "severe and crippling" conflict of interest.

There is an important debate going on in the friend of the court filings for this case. The Council of Brooklyn Neighborhoods (CBN) references a letter in which the ESDC cites Paget's firm as insurance that the "review process will be unbiased." Meanwhile, the ESDC believes that the CBN is an alter ego of the Atlantic Yards opposition despite the fact that many of the groups involved in the Council have no stated position for or against the plan.

Fiscal impact of Atlantic Yards? The city keeps report under wraps
New York City's analysis of the fiscal impact of Atlantic Yards has been cited in a City Hall press release, but has not been made public.

A recently obtained document from the New York City Economic Development Corporation shows that not only is the net fiscal impact less than the estimated $1 billion in City and State contributions and subsidies, but fails to take into account a biggie:

While the agency calculated new tax revenues, it made no attempt to factor in increased costs, such as for public safety, schools, and sanitation.

Posted by lumi at March 27, 2006 9:26 AM