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December 5, 2008

Ravitch Commission says (if you read between the lines): Don’t do deals like Atlantic Yards

Atlantic Yards Report

The big news yesterday out of the Commission on Metropolitan Transportation Authority Financing, led by Richard Ravitch, concerned proposals for a“mobility tax” on payrolls; tolls on now-free bridges; and a much smaller fare increase than feared.

However, reading between the lines, the Ravitch Commission, appointed in June by New York Governor David Paterson, also seems to be questioning the MTA’s stewardship of the Atlantic Yards deal, calling for a reform in governance and an increase in transparency.

Reporter Norman Oder outlines the history of the MTA's decision to sell the development rights to the Vanderbilt Railyards to Bruce Ratner, and analyzes the Ravitch Commission's recommendations.

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Posted by lumi at December 5, 2008 5:38 AM