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January 23, 2009

"Negotiating against ourselves": Council Member Gioia offered a prescient warning about the city's embrace of AY

Atlantic Yards Report

While doing research on the political tidal wave of support for Bruce Ratner's Atlantic Yards megaproject, Norman Oder stumbles upon a moment in time when one politician was trying to think clearly:

Would you believe that, some four-and-a-half years ago, a top city economic development officials promised that the return on public investment in the Atlantic Yards project would be eclipsed by the impact of the New Jersey Nets moving to Brooklyn?

Or that an effort to "find a better deal" was seen to "discourage developers from coming to us," even though, since then, the city has held competitions for developers seeking to build megaprojects?

That's in the transcript of the 5/4/04 City Council hearing on AY.

There were two key exchanges between City Council Member Eric Gioia and Andrew Alper, then president of the New York City Economic Development Corporation.

(I augmented the transcript slightly with a look at some video.)

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Posted by lumi at January 23, 2009 5:18 AM