« Brennan’s bonehead bill | Main | TODAY: Families United for Racial & Economic Equality’ Presents (FUREE) Annual Convention - 2006 »

May 20, 2006

Bill: State should pay Bruce to build less at A’Yards site

Brooklyn Papers Gersh Kuntzman

To compensate Ratner for the smaller project, Brennan’s bill would give the developer the Atlantic Yards site for free, rather than charging him $100 million for it. The MTA had appraised the site at $214 million.

In addition, Brennan’s bill would relieve Ratner of his obligation to renovate the Long Island Rail Road yard, saving him another $200 million, the assemblyman said.

Brennan’s bill would also require the state — rather than Ratner himself — to subsidize the 50-percent of the project that Ratner agreed to set aside as affordable housing.

“This bill is like negotiating with a hijacker,” said Daniel Goldstein, spokesman for the anti-Atlantic Yards group, Develop Don’t Destroy Brooklyn.

article

Posted by amy at May 20, 2006 11:39 AM