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February 13, 2009
Stimulus Accountability Measures Are Problem for Forest City/ESDC
Develop Don't Destroy Brooklyn is keeping tabs on the stimulus package as the final details are being readied. The Atlantic Yards opposition group parsed through House Speaker Pelosi's overview of how States are supposed to account for the spending of stimulus funds and notes:
This excerpt on accountability and the stimulus funds would pretty much disqualify Forest City Ratner and Empire State Development Corporation unless they somehow radically overhaul they way they've done Atlantic Yards business for the past 5+ years.
Of particular interest from the overview:
Public notice of funding must include a description of the investment funded, the purpose, the total cost, and why recovery dollars should be used. Governors, mayors, or others making funding decisions must personally certify that the investment has been fully vetted and is an appropriate use of taxpayer dollars. This information will also be placed on the internet.
NoLandGrab: Though the State of NY has been arguing for years that Bruce Ratner's Atlantic Yards project has been "fully vetted," it seems like it will be hard for Governor Paterson's office to quietly divert funds towards the project.
Posted by lumi at February 13, 2009 5:08 AM