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September 30, 2008
Déjà delay all over again
Here are today's local headlines covering news that the State Appellate Division decided against the Empire State Development Corporation's motion to dismiss the eminent domain case, filed by nine property owners in the footprint of Bruce Ratner's Atlantic Yards megaproject.
As we noted this weekend, the campaign to justify the project just took a new turn. Now Atlantic Yards is a must-needed economic engine to drive the city, heck even the country, out of the current fiscal crisis. This coordinated campaign was in evidence by Ratner's statement released to the press and Borough President Marty Markowitz's comment to the Brooklyn Paper.
Also, both daily tabloids noted that this isn't the first delay — originally the Nets were supposed to be playing in their new arena in 2006.
Headlines and highlights:
The NY Sun, Atlantic Yard Project Suffers a Setback
Remember, our country needs Atlantic Yards more than ever:
"While the Appellate Division Second Department's decision to hear the case may delay the project for approximately six months let me be clear that the project will go forward," Mr. Ratner said in a statement. "Atlantic Yards will be built and it will create thousands of needed jobs and affordable homes. This is all the more important as our City and country confront one of the most difficult economic downturns in history. We are as committed as ever to the development of this project and will continue to work with the City, State and local leaders to ensure that it goes forward."
NOTE: The Associated Press is reporting that today's edition of The NY Sun will be its last. As the ONLY New York paper that consistently voiced an opinion against taking people's homes and businesses for private projects, The Sun will be missed.
The Brooklyn Paper, Case against Atlantic Yards moves forward
It's not just litigation that's standing in the way of Bruce Ratner's dream of building an arena and the densest residential community in the nation:
Though Ratner downplayed the delay, opponents of the development pointed out that Ratner recently told The New York Times that he plans to “break ground” in December, but it is unclear how he will be able to do that given that his $400-million naming-rights deal with Barclays has not been finalized, the Treasury Department is seen as increasingly unlikely to change a key rule in Ratner’s favor, public officials are balking at a recent request by Ratner for $100 million more in taxpayer subsidies, and key financing — already in jeopardy before the credit crisis — has not been lined up.
Most important to the current case, Ratner does not yet own all the land on which he intends to build.
Marty sez that Brooklyn needs Atlantic Yards:
“I am disappointed [by the court ruling],” said Borough President Markowitz. “I truly believe that in the current economy, Brooklyn needs the kind of investment that Atlantic Yards will bring — the union jobs and affordable housing it will create. Projects like this one are catalysts for job creation and growth, and Atlantic Yards is a very important part of the effort to help Downtown Brooklyn.”
NY Daily News, Legal snag to delay Nets arena project
Remember, this isn't the first timeline delay:
When announced in 2003, the arena was to open in 2006, but mounting delays last year forced the Nets to postpone a move to Brooklyn until at least 2010.
From PR 101: when you run out of spin, then say nothing:
A Ratner spokesman declined to say if a planned December groundbreaking for Atlantic Yards will have to be postponed.
NY Post, FOES' SUIT POSTPONING YARDS WORK
Is the Barclays deal in jeopardy? Barclays does a spin move:
Also up in the air now is the record $400 million naming-rights deal with Barclays Bank, first reported by The Post in January 2007, which is expected to help offset the cost of the arena.
That is now in question because the deal was contingent on Ratner's having his entire project financing set by the end of November, which is now impossible.
When asked if an extension would be negotiated, a Barclays spokesman skirted the question but said, "We look forward to breaking ground with our partners in Brooklyn."
When Ratner announced his plan for Atlantic Yards in 2003, he had hoped to move the Nets to Brooklyn by the 2006-07 season.
amNY, Brooklyn arena could be delayed another 6 months
Posted by lumi at September 30, 2008 6:08 AM