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February 8, 2009
Atlantic Yards Bailout DOA?
Develop Don't Destroy Brooklyn
The federal stimulus bill awaits a Senate vote likely on Tuesday followed by heated negotiations for reconciling with the House so nobody can be sure yet what the bill will be and what it will allow.But currently the Senate version includes an amendment that has been passed that does not allow stimulus funds for, amongst other things, a stadium.
S.A. 309 page S1590 reads:
None of the amounts appropriated or otherwise made available by this Act may be used for any casino or other gambling establishment, aquarium, zoo, golf course, swimming pool, stadium, community park, museum, theater, art center, and highway beautification project.If that Amendment stays in the final bill, which is likely, Forest City Ratner will not be able to get stimulus funds for his billion dollar arena, though they will try. Will they argue that an arena is not a stadium? Probably. But an arena and a stadium are the same thing in the context of such a provision.
Posted by amy at February 8, 2009 10:40 AM