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December 19, 2006
HU$H, HU$H ON RATNER
NY Post
By David Seifman & Rich Calder
Empire State Development Corp. officials, testifying before an Assembly committee yesterday, refused to divulge Bruce Ratner's expected profit on his nearly $4 billion Atlantic Yards project planned for Brooklyn.
Citing "confidential" issues related to litigation, ESDC officials declined to reveal details of a cost-benefit analysis performed by the accounting firm KPMG for the controversial project, which includes an arena for the NBA's Nets.
They later said Ratner's profit would be "reasonable," without elaborating.
The KPMG document was not among the dozen boxes of documents ESDC turned over to the committee, although it had been subpoenaed.
NoLandGrab: Documents pertaining to the cost-benefit analysis of Bruce Ratner's Atlantic Yards plan have been repeatedly requested by different parties through Freedom of Information Law filings, and now even subpoenaed, but the ESDC won't give them up.
Just HOW DAMAGING could these documents be, especially if this project is so great for Brooklyn?
Posted by lumi at December 19, 2006 8:46 AM