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June 4, 2009
Daily News follows up on IBO revelation; FCR stonewalls, NYC EDC repeats claim of cost-benefit analysis
Atlantic Yards Report
AYR follows up on today's Daily News story.
As for the New York City Economic Development Corporation, it repeated the argument it made to WNYC:
...by only analyzing the arena - and not the 16 residential and commercial towers also proposed for the site - the IBO had released inconclusive information. "In light of new conditions, the city is updating a cost-benefit analysis, and any decisions related to the project will be informed by this revised analysis with the goal of ensuring a significant net positive fiscal impact to the city," said EDC spokesman David Lombino.Well, there's little evidence the rest of the project will be built in a timely fashion, if ever, so the arena is a legitimate, if incomplete, subset, even though Lombino is correct in suggesting there should be a full analysis.
But there's no evidence the city has done a real cost-benefit analysis as opposed to just adding up benefits.
NoLandGrab: When David Lombino says "any decisions related to the project will be informed by this revised analysis with the goal of ensuring a significant net positive fiscal impact to the city," does he mean that they want to ensure that the analysis shows a net positive impact? Or the project itself? Based on the NYC EDC's past sleight of hand, we're betting they just want to make the numbers look good.
Posted by eric at June 4, 2009 8:21 AM