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March 28, 2008
"Deeply troubled" Jeffries says it's time to evaluate changes in AY; Brennan's subsidy bill resurfaces
Atlantic Yards Report
Norman Oder follows up with State Assemblyman Hakeem Jeffries and surveys the political posturing in light of recent Atlantic Yards revelations:
Last night, I spoke to Assemblyman Hakeem Jeffries, whose district includes Prospect Heights and the Atlantic Yards footprint, about the Atlantic Yards stall and the potential response in Albany.
He indicated dismay about the apparent major delay in affordable housing and said it was too soon to assess new Governor David Paterson’s posture on the project.
He said the legislature may look at a bill, sponsored in 2006 by Assemblyman Jim Brennan and revived in February, that would trade a one-third cut in the size of Atlantic Yards for direct and indirect subsidies worth some $700 million over 30 years, with nearly half of that up front.
Also, he said a legislative committee might take another look at the Empire State Development Corporation’s (ESDC) stewardship of Atlantic Yards.
Posted by lumi at March 28, 2008 6:10 AM