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September 11, 2008
Atlantic Yards To Begin Construction By Year's End
NY1
Somehow news that Atlantic Yards developer Bruce Ratner is facing hurdles to keeping his pledge to break ground in December, as reported yesterday in the NY Times, turned into a puff piece for Ratner's announcement.
NY City Mayor Michael Bloomberg, who continues to act like the City isn't spending a dime on this project, repeated his perennial mischaracterization of the deal thusly:
"We desperately need to have development and that's a very big part of the development in Brooklyn. I don't know that we have to put government money in, but we certainly will do everything we can to work with Ratner to get those buildings going," said Bloomberg.
NoLandGrab: For the record, NY City is giving Bruce Ratner $205 million in direct subsidies and the Times reported yesterday that Ratner is asking for another $100 million.
Posted by lumi at September 11, 2008 4:00 AM