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May 28, 2009
The damage done to Brooklyn: Atlantic Yards has shrunk, and with it good jobs and affordable housing
NY Daily News
Stopping short of calling Atlantic Yards critics "rabid obstructionists," columnist Errol Louis lays the blame for the flailing project at the feet of the "anti-development faction."
However, his sympathetic treatment of developer Bruce Ratner has earned him this valuable scoop:
Project insiders say Ratner's most pressing short-term financial hump is the need to pay $100 million to the Metropolitan Transportation Authority for the Vanderbilt Yards, a crucial stretch of property and train tracks along Atlantic Ave. between Flatbush and Vandbilt Aves.
As early as tomorrow, the MTA board could vote in closed session on whether to allow Ratner to make a smaller-than-expected downpayment - $20 million or so - and allow him to pay the rest over time.
Posted by lumi at May 28, 2009 7:23 AM