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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?

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Posted by amy at January 27, 2007 6:59 PM