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May 4, 2008

In Daily News Ratner asserts AY by 2018, ignores countervailing evidence

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Atlantic Yards Report does the dirty work of dissecting the, how you say, truthiness, in the Daily News today:

Without explaining where the financing would come from, including scarce affordable housing subsidies, Atlantic Yards developer Bruce Ratner today declares that the project would be complete in 2018, promising a 10-year timetable little different from that announced when the project was approved in 2006, albeit after a pause for delay.

Ratner, in a Daily News op-ed headlined Atlantic Yards dead? Dream on, does not mention the recently-revealed news that the State Funding Agreement gives him 6+ years to build the arena and 12+ years to build the five towers of Phase 1, both after the close of litigation and the delivery of property by eminent domain. Nor did he mention that the City Funding Agreement allows him to build a much smaller Phase 1 than that anticipated in the Empire State Development Corporation's (ESDC) General Project Plan.
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The announcement puts yesterday's counter-protest in greater perspective, as part of a coordinated effort to show support for the project.

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NoLandGrab: Click through for a point by point rebuttal of the op-ed...

Posted by amy at May 4, 2008 11:10 AM