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January 4, 2009

In governors' request for federal infrastructure aid, only a hint of (indirect) help for Atlantic Yards

Atlantic Yards Report

So New York State Gov. David Paterson, along with governors from other large states, has asked the federal government for a total of $1 trillion in emergency aid over two years for all 50 states.

Could any of that be directed to Atlantic Yards? The news coverage wasn't clear, summarizing the request as including $350 billion for infrastructure; $250 billion for anti-poverty programs; and $250 billion in flexible education spending to maintain funding for programs from pre-kindergarten to higher education; and middle-class tax cuts.

Given that the "ready-to-go" projects are the focus, Atlantic Yards could not be directly affected. However, it's possible that a change in rules regarding the Low Income Housing Credit Program could make it easier to fund affordable housing destined for the project.

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Posted by amy at January 4, 2009 9:51 AM