« As officials admit lobbying IRS for Nets arena, Lieber says AY groundbreaking by 2009 (at least) | Main | A High Stakes loss near Yards »
June 13, 2008
NYCEDC Confirms: Ratner Wants More Subsidy for Atlantic Yards
Develop Don't Destroy Brooklyn connects the dots in the public discussion on more subsidies for Bruce Ratner's controversial Atlantic Yards project. Here's the gist of it:
Back on April 2nd, Forest City Ratner's parent company CEO Chuck Ratner said on an analysts conference call that "we still need more" subsidy for Atlantic Yards. (Atlantic Yards Report broke that story.) Ever since then, Forest City Ratner spokespeople have flat out denied that they would be seeking more subsidy. But NYC Economic Development Corporation President Seth Pinsky begs to differ, according to the Sun article, he confirms what Chuck Ratner said in April:
...He [Pinsky] also said that the developer Forest City Ratner Co. had expressed interest to the city about seeking additional tax-exempt funding, but that the request was being handled by the state...
...
Two key City Council members—David Yassky, running for City Comptroller and Bill de Blasio, running for Brooklyn Borough President—have already said "no way" to more subsidy for Atlantic Yards.
...
Who will stop this madness? We suggest a hearing before the members of the Assembly Committee on Corporations, Authorities and Commissions would be a good place to start.
Posted by lumi at June 13, 2008 5:47 AM