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March 16, 2006
The Times on ACORN report: some context missing regarding Atlantic Yards
Atlantic Yards Report
In reference to The NY Times's article on reconsideration of NYC's 421-a plan, "The Times offered one incomplete paragraph referencing the Atlantic Yards issue:"
New York Acorn, which successfully pressured the Forest City Ratner Companies to include mixed-income housing in its 9.1 million-square-foot Atlantic Yards project in Brooklyn, looked in its new report at 87 housing development projects in various Brooklyn neighborhoods starting at the Brooklyn and Manhattan Bridges and extending toward Prospect Park.
Missing, however, was any explanation of what the developer would get from the deal. It would receive the 421-a tax break. More importantly, FCR got grassroots support for a project that would override city zoning and allow the developer to construct larger buildings--and thus more market-rate units--than would ordinarily would be permitted at the site.
Posted by lumi at March 16, 2006 8:01 AM