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May 4, 2006
Decision Will Delay $600M Project
GlobeSt.com's coverage of the big setback for Bruce Ratner's Ridge Hill project in Yonkers carries reaction from Yonkers Mayor Phil Amacone and Forest City's Bruce Bender.
“The city is appealing and we are confident we will win on the merits.” He did say that the ruling will delay the Ridge Hill project by months from breaking ground.
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“We are disappointed by this decision, but confident that it will be overturned on appeal,” says Bruce Bender, executive vice president for Forest City Ratner, in a prepared statement. “The real losers in this senseless political battle are the taxpayers of the City of Yonkers. As forces both inside and outside the city posture, Yonkers taxpayers are being deprived the $23.7 million in annual taxes and the local economy is being cheated out of the 9,000 construction and permanent jobs that Ridge Hill will bring.” He later adds that the company remains committed to the Ridge Hill project.
Posted by lumi at May 4, 2006 7:20 AM