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March 19, 2007
Money for Ratner and the Railyards for Free
Develop Don't Destroy Brooklyn wants you to know that taxpayers are purchasing the railyard for Bruce Ratner.
The coalition group opposing Bruce Ratner's Atlantic Yards plan connects THE DOT and crunches THE NUMBER to bring you this explanation:
In September 2005 Bruce Ratner agreed to pay the MTA $100 million for the rights to the 8.5-acre Vanderbilt Railyards, which comprise over one-third of the "Atlantic Yards" project site. The MTA reached that lowball agreement despite the competing bid of $150 million by Extell Development Company and the $214.5 appraisal.
Last week it was revealed that New York City would give $100 million in taxpayer funds to Bruce Ratner for "land acquisition."
No need to connect the dots here, it's one dot.
The City is using taxpayer dollars to buy the railyard rights for Bruce Ratner.
Posted by lumi at March 19, 2007 10:10 AM