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August 3, 2007
Real Estate Round-Up, August 2, 2007
Brooklyn Daily Eagle
By Sarah Ryley
Property owners in the footprint of the Atlantic Yards project who refused to sell to developer Forest City Ratner began receiving letters last week from the state asking for “financial information relating to property appraisals,” an initial step in the eminent domain process, according to the New York Sun.
A spokesman for the Empire State Development Corporation, the state agency sponsoring the project, said the state will not proceed with eminent domain while the lawsuit is still pending. “This is an early step in a process that won’t be ultimately resolved for some time,” he told the Sun.
Despite the delays, a Ratner spokesman still maintains that the Nets will play in the new arena for the 2009 season.
Posted by lumi at August 3, 2007 10:26 AM