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March 16, 2007
City buys Ratner land: Councilmembers ask why
The Brooklyn Paper
Why is Mayor Bloomberg buying land for developer Bruce Ratner?
The City Council was left asking that question when officials from the city’s Economic Development Corporation disclosed that almost half of the city’s previously announced $205-million contribution to Atlantic Yards would pay for acquiring land within the mega-development’s 22-acre footprint.
And no one knows why.
Q: Why?
A: Why not?
The city's explanation is pretty amazing:
A spokesperson for the EDC said the land would eventually be owned by the state, which would then give the developer a long-term lease so he could build the arena, public open space and residential buildings on it.
So the City is buying land for the State to give to the developer who would put "public open space" on it? Did they just add "public open space" to the plan, because it wasn't there yesterday?
Posted by lumi at March 16, 2007 11:30 AM