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May 29, 2009
REMINDER: Atlantic Yards Public Hearing, Today
SENATE STANDING COMMITTEE ON Corporations, Authorities and Commissions, Senator Bill Perkins, Chair
Subject
Atlantic Yards: Where are we now; How did we get here; Where is the Project going?
Testimony by invitation only. Written submissions welcome!
Purpose:
To elicit recommendations for improved accountability, and transparency, land use planning, and community participation for large scale development.
Friday, May 29
1PM - 5 PM
Pratt Institute, Higgins Hall
61 St. James Place (corner Lafayette Ave.)
Brooklyn, NY 11238
Description
The Atlantic Yards Arena and Redevelopment Plan (AY Plan) was announced by the Empire State Development Corporation (ESDC), a public authority, in 2003. The plan includes a 19,000 seat Arena and 16 high rises which are to be built during a ten year time period. The 22 acre site adjoins the neighborhoods of Fort Greene, Prospect Heights, Parks Slope and Boerum Hill in Brooklyn. It includes an 8 acre site owned by the MTA, and other properties owned by the City and private property owners.
The Plan received all of its approvals in December 2006. The approval includes an override of the local zoning laws; an override of a more strict NYC Environmental Review; and approved taking properties by Eminent Domain.
The ESDC designated Forest City Ratner Corporation (FCRC) as the sole developer. New York State and New York City have committed to subsidize the Project through issuing bonding debts, infrastructure improvements, and other subsidies.
The Committee will hear testimony regarding financing, project oversight and the role of the Empire State Development Corporation, a public authority, in the Atlantic Yards Arena and Redevelopment Plan (AY Plan).
Posted by eric at May 29, 2009 9:15 AM