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October 6, 2008
An Open Letter to ESDC Chair Marisa Lago re: Atlantic Yards
Develop Don't Destroy Brooklyn
The following is an open letter to the new Chairwoman of the Empire State Development Corporation, Marisa Lago.
Dear Chairwoman Lago:
Congratulations on your new appointment to the ESDC.
You recently said, “The need for strategic economic development is actually keenest in a down economy.” We agree wholeheartedly, and we believe that means it’s time to scrap the Atlantic Yards project. Atlantic Yards was proposed in 2003, in a very different economy. Our current situation will not support such a bloated and costly development.
On the other hand, the community’s UNITY Plan for developing the Vanderbilt rail yard offers a wise alternative. With a dense mix of affordable and market-rate housing, it divides the 8-acre rail yard into smaller, more manageable parcels to attract multiple developers through a legitimate RFP, providing more revenue to the MTA. Dividing the parcel into smaller lots will spread and reduce risk, and will ensure development in a far more timely manner. No longer will the redevelopment of the yards rise and fall with Forest City Ratner’s fiscal health and private goals.
Nothing could be farther from “strategic economic development” than a taxpayer-subsidized, revenue-neutral, billion-dollar basketball arena, which would create few new jobs and is faced by financial uncertainty, escalating construction costs, widespread community opposition and ongoing litigation.
We believe a comprehensive re-evaluation of Atlantic Yards is long overdue. We urge you to meet with elected and community leaders in Brooklyn to discuss the benefits of a fresh approach – “strategic economic development” depends on it.
Sincerely,
Develop Don't Destroy Brooklyn
Posted by eric at October 6, 2008 10:52 AM