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."
Enough ranting, from the report:
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