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June 22, 2009
ESDC asks for eminent domain appeal to be dismissed or heard ASAP, says delays put AY "slum clearance" project in jeopardy
Atlantic Yards Report
Further delays in resolving the Atlantic Yards state eminent domain lawsuit would put the project's future in jeopardy, the Empire State Development Corporation (ESDC) argues in court papers, calling for the final appeal to be dismissed or, if accepted, heard in early September so tax-exempt bonds could be issued by the end of the year.
Norman Oder examines the "legal fiction" submitted in court documents, that "'once constructed,' the project: 'will eliminate long-standing blighted conditions.'" Unmentioned in the court filing is the fact that there is no construction timetable for the entire project, and that the blighted conditions cited and created by Ratner demolitions would persist indefinitely.
NoLandGrab: The truth is Ratner's entire strategy and schedule is hinged around getting these tax-exempt bonds.
Posted by lumi at June 22, 2009 6:35 AM