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August 28, 2007
Ratners reign with eminent domain
We told you that the Ratners were eminent domain-addicted sultans of subsidy. Now do you believe us?
We first caught wind of this project back in 2005, so apparently Forest City has been eyeing this development for years. Today the mammoth developers present their plan to the Fresno Redevelopment Agency, in hope that the City will use its powers to:
- use eminent domain to force the sale of property by any unwilling owners,
- provide city money for land acquisition and infrastructure improvements,
- grant Forest City sole rights to develop the project, and
- secure federal, state and city subsidies.
Yes, we KNOW this sounds familiar — it's the Ratner-family business model.
Fresno Bee, Autry, Fresno council at odds; Rift arises over direction for $425m downtown project
In case you thought that the Ratners only renege on promises in Brooklyn:
On Monday -- a day before a crucial council vote -- Autry said the city's Redevelopment Agency would be making a mistake to invest more than $160 million in Forest City Development's plans, because the developer failed to deliver on earlier promises.
One Fresno City Councilmember, Jerry Duncan, is certain that the council will override any veto, if necessary:
"This plan isn't about gimmicks," Council Member Jerry Duncan said. "It's about what will work with a proven company."
Duncan predicted a unanimous vote today that would signify the council has more than the five votes required to override a veto.
A unanimous vote would render the mayor's veto powers useless.
ABC30, KFSN, Fresno, Downtown Fresno Businesses Not Yet Worried About Forest City Project
The local ABC affiliate covered the story from the eminent domain angle:
Four generations of Baskins have worked at the family auto upholstery shop in downtown Fresno which is right in the middle of the proposed development.
Bruce Baskin, business owner, says "We don't want to go anywhere, but with eminent domain, they don't give you much of a choice. I think it's a bad idea, it's kind of a pipe dream, I don't think it will fly down here."
Fresno leaders hope Forest City will draw more people to downtown with its three phase $300 million project covering 19 blocks southeast of Chukchansi Park.
Naturally, Councilman Jerry Duncan doesn't think that eminent domain will be a problem:
Jerry Duncan, Fresno City Council Member, says "I don't see that as a big issue, this project and the area down here we've been talking about for a long time. And frankly a lot of these property owners that we've talked to are like, when can I get my check."
Posted by lumi at August 28, 2007 9:15 AM