April 1, 2006
State gives Ratner $33M
Legislators in Albany have handed developer Bruce Ratner his first public subsidy for his Atlantic Yards project, allocating $33 million for the still-unapproved mega-development.
Three weeks after Ratner dispatched his troops to Albany to lobby for a $100-million handout, state officials this week earmarked one-third that amount for his $3.5-billion project in Prospect Heights.
By Assembly tradition, lawmakers often defer to local elected officials before signing big checks. But even though two of the four Assemblymembers who represent areas in or surrounding the Yards’ 24-acre footprint oppose the project, the initial Ratner subsidy was expected to pass handily.
Objection from local lawmakers - CHECK. Monies for unapproved project - CHECK. Ratner, here's your CHECK!
Posted by amy at April 1, 2006 10:03 AM