July 27, 2007
Marty’s blind spot
The Brooklyn Paper
The Beep, a strong supporter of the Atlantic Yards project, put out an angry press release on Wednesday railing against a Metropolitan Transportation Authority plan to cover an expected $300-million deficit next year by hiking subway fares by 10 percent.
Here’s where the fancy footwork comes in.
Markowitz’s beloved Atlantic Yards project is largely being built over land that the MTA sold to Ratner in 2005 for a mere $100 million — $114 million less than the MTA’s own appraisal said the development rights were worth. In a truly open market, those rights might have even gone for more.
Not only did Markowitz not object to the MTA’s fare-busting giveaway, he loudly supported it, calling it “good for Brooklyn.”
Posted by lumi at July 27, 2007 7:38 AM