June 30, 2008
To federal regulators, ESDC claims Forest City Ratner has "acquired" 85% of AY site
Atlantic Yards Report
Perhaps Forest City Ratner "owns or controls 86 percent of the land needed for Atlantic Yards," but that didn't stop the project sponsor, the Empire State Development Corporation, from telling a little white lie to federal regulators:
According to the "Atlantic Yards Chronology" (p. 6 of this PDF): Forest City Ratner Companies ("FCRC"), the developer of the Project, has already acquired approximately 85% of the project site.
NoLandGrab: Well, at least the ESDC didn't lie when it identified Forest City Ratner as "the developer of the Proejct."
Posted by lumi at June 30, 2008 4:19 AM