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December 18, 2008
MTA Continues Support for Atlantic Yards
Nets Daily
The recent puzzling item from Reuters is picked up and used as an indication of continued political support for Bruce Ratner.
While lawsuits move through court and reports circulate that Bruce Ratner has cash flow problems, New York’s politicians haven’t backed off their support for Atlantic Yards and its new Nets’ arena. On Wednesday, the head of the MTA, which owns the railyards where the project will be built, said he expects Atlantic Yards to generate $1 billion. “We don’t have any current concern with respect to the $1 billion”, he said.
NoLandGrab: It does, indeed, appear that the MTA continues to support Bruce Ratner's boondoggle at our expense, but what is with that $1 billion figure? The agreed-upon bargain basement price for the Vanderbilt Yards is $100 million.
Posted by steve at December 18, 2008 6:25 AM