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August 1, 2008
The MTA’s un-fare-ness
The Brooklyn Paper
Atlantic Yards gets a dishonorable mention in this week's Brooklyn Paper editorial on the competency deficit at the Metropolitan Transportation Authority.
The MTA sells its assets on the cheap to hand-picked developers and cronies of its well-connected board members rather than selling them on the open market. Atlantic Yards, of course, is the most egregious example of this, with the MTA selling the air rights over its Vanderbilt Rail Yards to Bruce Ratner for $100 million less than its appraised value.
Posted by eric at August 1, 2008 9:31 AM