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March 28, 2006
Ratner's Capital
The Real Estate Observer
By Matthew Schuerman
While Ratner is trying to raise $60 million for his money hemmoraging basketball team, he's trying to insure that $100 million will be earmarked in the State budget for his Atlantic Yards high-rise/arena proposal.
NY Observer reporter Matthew Schuerman is keeping an eye on Albany and whether or not the $100-million direct State subsidy is in.
Governor Pataki has always been portrayed as a big booster for Forest City Ratner's Atlantic Yards, but his rival in the state Assembly is apparently even more of one. Skip Carrier, Sheldon Silver's spokesman, told us that the Assembly Speaker's proposed budget includes $200 million for "economic development"--an unspecified portion of which would go to the Brooklyn arena and housing complex. Carrier said Pataki's budget included no money for any sort of economic development projects. We're waiting for confirmation from the Governor's media people on that.
Posted by lumi at March 28, 2006 8:03 PM