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June 16, 2008

Brooklyn Politicos Call for Trust to Oversee Atlantic Yards

Governor would exercise majority control

The Real Estate
by Bharat Ayyar

A handful of local politicians this morning crowded onto the steps of City Hall to announce an initiative to foster community involvement in the Atlantic Yards project.

The Atlantic Yards Governance Act, co-sponsored by Assemblymen Hakim (sic) Jeffries and James Brennan of Brooklyn, would create a 15-member development trust to balance what they say is a one-sided effort monopolized by developer Forest City Ratner. The trust would, theoretically, have full power to modify the Yards’ development plan. But, at the same time, a majority eight members of the board would still be appointed by the governor.

"Atlantic Yards is a public project¹ built on public land² using public money overseen by a public entity for a public purpose³," Mr. Jeffries said. "It therefore deserves maximum public participation during the life of this project."


NoLandGrab: We applaud the effort to gain some local control over Atlantic Yards, but establishing a Trust controlled by the Governor to oversee a project 100% defined by the developer is just a bit like shutting the barn door after all the horses have run away, don't ya think?

Corrections: ¹ it's a private project; ² to be built primarily on private land acquired under the threat of — or directly via — eminent domain; ³ for a primarily private purpose. No argument with the need for maximum public participation, however.

Posted by eric at June 16, 2008 1:25 PM