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June 14, 2007

"Stop Payment": Groups say city's $100M shouldn't buy Ratner land

Atlantic Yards Report

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Maybe it was a little quixotic, since the City Council and Mayor Mike Bloomberg had come to a budget agreement on Monday, but a somewhat unusual coalition of Brooklyn community groups gathered yesterday to protest the apparent allocation of $100 million of city funds to buy land for the Atlantic Yards project.

"'Stop Payment' for private property acquisition," read the oversized checks displayed at the press conference outside City Hall, organized by the BrooklynSpeaks coalition, which has called for significant changes in Atlantic Yards but has avoided litigation opposing the project. Likely because of the budget agreement, City Council Members Letitia James and David Yassky, who have criticized the city's allocation decision, were not present at the press conference.

The $100 million is part of $205 million in city support for Atlantic Yards, which is $105 million more than contemplated in a February 2005 nonbinding Memorandum of Understanding (MOU). While $105 million will go to infrastructure, the $100 million apparently has no strings attached, though officials of the New York City Economic Development Corporation (NYCEDC) have said that it will be used to acquire land.

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Posted by lumi at June 14, 2007 9:26 AM