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April 23, 2009
Big Projects Slow Down But Still Moving
The Epoch Times
Marisa Lago, president and CEO of Empire State Development Corp (ESDC), reiterated the state sponsor's support of Bruce Ratner's Atlantic Yards megaproject at an April 14 breakfast panel:
Inevitably, questions arose at the forum about Atlantic Yards, the ambitious project caught in the financial crisis crossfire. Lago called it “one of our most controversial projects.” She said the City and State were determined to work with Forest City Ratner Co. to keep it going but the time frames are changing.
NoLandGrab: How are the time frames changing and who determines these changes, the state or developer? Benefits to the public, like affordable housing, remain in limbo, while the developer takes his time, despite receiving hundreds of millions, possibly billions, of dollars in taxpayer support.
Posted by lumi at April 23, 2009 5:47 AM