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February 13, 2009

Gramercy loan extended for Ratner; "some" state officials skeptical of stimulus funds for AY

Atlantic Yards Report

The big news in this afternoon's New York Times City Room post, headlined Atlantic Yards Project Gets a Reprieve is that the developer got an extension on a loan.

Perhaps more important news appeared lower down in the article:
In recent weeks, Mr. Ratner has sought to slash the arena’s cost and to get more subsidies from the city, the state and even New York’s portion of the recently approved federal stimulus package, beyond the $300 million in cash and tens of millions in tax breaks already committed to the project. Former Senator Alfonse M. D’Amato’s firm, Park Strategies, has been lobbying on behalf of Forest City to get federal money for infrastructure projects. But some state officials say that Atlantic Yards is unlikely to get that money, since other needs are more pressing.
(Emphasis added)

That's an interesting locution. It wasn't "some state officials say they don't think Atlantic Yards should get that money;" rather, it was "say that Atlantic Yards is unlikely..."

That suggests that those quoted aren't local elected officials spouting off but rather insiders with some say.


NoLandGrab: Only one thing in all of this is certain; Governor Paterson and state officials are being asked about just one specific project — the hyper-controversial Atlantic Yards — by reporters wondering which projects will get funded and which projects won't.

Posted by eric at February 13, 2009 5:39 PM