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August 29, 2007

Forest City Gets The Green Light to Move Forward

ABC30, KFSN
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.

article

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