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June 30, 2007

AY: Government Backed Financing & the Cost to the Taxpayer

Develop Don't Destroy Brooklyn

Since government has been unwilling to tally the full cost to the taxpayers of the Atlantic Yards project, and with the latest 421-a Ratner Clause added, we've updated our ongoing tally and best estimate.

Click here to download the pdf: Atlantic Yards: Government Backed Financing and the Cost to the Taxpayer (as of June 30, 2007).

The known government backed financing and public cost for the taxpayer that we've calculated is $2.119 billion. The unknown public cost and government backed financing could amount to more than that.

Remember, the project, according to Forest City Ratner, costs $4 billion.

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Posted by amy at June 30, 2007 11:41 AM