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August 29, 2007

Forest City Gets The Green Light to Move Forward

By Maureen Naylor

There Forest City goes again, using eminent domain and massive taxpayer subsidies to build a "mixed-use urban village."

NoLandGrab: Seriously, where's the risk when they keep using other people's land and other people's money? And, WTF is an "urban village?" Either it's urban or a village, right?

Enough ranting, from the report: FCEFresno.jpg

Today's decision did 4 things:

  • Approved concept of the project.
  • Gave the go-ahead for the environmental impact report.
  • Extended Forest City's exclusive rights to develop the South Stadium project until January 2009.
  • City Agreed to find public funding.

Public Funding has become a point of contention. The mayor has expressed concern about the city putting forward possibly $163 million over the projects 3 phases. He says the city may be making a mistake by putting up so much money for a company that hasn't produced anything in years.


NoLandGrab: Final approval will allow for the use of eminent domain to seize land from property owners who decline to sell.

The reporter mentioned that the presentation featured a "public park" — as Brooklynites know, Forest City's parks are generally "private," though "publicly accessible," despite what executives tell the media. It will be interesting to see if Fresno residents get a real public park in the deal.

Posted by lumi at August 29, 2007 7:46 AM