January 27, 2007
$205 million for AY seems to double city's pledge
Atlantic Yards Report
Mayor Mike Bloomberg's capital budget, released Thursday, includes $205 million designated for Atlantic Yards--a sum far greater than the $100 million formally pledged.
I asked the mayor's press office early yesterday morning for details, but did not get a response by the end of the day.
One explanation may be that the city is relying on a vague clause in a 2005 Memorandum of Understanding to steer more city funds to the project. If so, that opens the door for even more city contributions in the future--a potential Atlantic Yards slush fund.
If not, could the city's capital budget somehow have included the $100 million in state funds also pledged to the project?
Posted by amy at January 27, 2007 6:59 PM