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February 2, 2007
News Analysis: City's Atlantic Yards Bill Keeps Growing
Brooklyn Downtown Star
By Norman Oder
Since a February 2005 Memorandum of Understanding (MOU), the City of New York committed to spending $100 million on infrastructure and other costs for the Atlantic Yards project in Brooklyn, helping to prepare a complicated site - including a railyard - for an arena and also to help developer Forest City Ratner pay for properties that would be on the arena site footprint.
However, last week, a little more than a month after the project received its final public approval (via the state Public Authorities Control Board, or PACB), Mayor Mike Bloomberg's proposed capital budget included $205 million on the line for Atlantic Yards. ...
However much the $205 million might raise eyebrows, [Kate Suisman, chief of staff for Council Member Letitia James] noted, when it comes to the budget, the Council "can't say no to parts of it; you have to accept or reject the whole thing." She said that the totality of the spending "should have been made public prior to the PACB vote."
Posted by lumi at February 2, 2007 7:30 AM