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June 26, 2009
It came from the Blogosphere... (Not just bailouts edition)
The Huffington Post, It's Atlantic Yards "Push" Week!
Steve Ettlinger runs down the week in bailouts.
If the ESDC had done its job, the MTA would already have cash it so desperately needs. Now, instead, the MTA has decided at its June 24th board meeting to bail out the billionaire developer, giving him 20 years to pay out what was supposed to have been paid up front. And this is despite at least two viable alternatives they completely ignored, one when this first came up (from successful developer Extell) and one from Develop Don't Destroy Brooklyn, at the board meeting, with $5 million of financing already in place . Amazing. We should all get such deals.
For all our subsidies, it looks like we'll get a run-of-the-mill arena and thousands of parking spots on the rubble-strewn lots.
It just doesn't figure right.
Malarky News — Pure Torture, NYC MTA’s Bailout Of Brooklyn Atlantic Yards Developer
Remember this corporate welfare bailout when fares go up and more aid is sought from New York State taxpayers.
There is an alternative. Vote Libertarian this year. Joseph Dobrian is our candidate for Mayor, Jim Lesczysnki is running for Public Advocate, while John Clifton is seeking the Comptroller’s post.
The Libertarian Party opposes corporate welfare and eminent domain abuse.
The Campaign for Community-Based Planning, MTA Approves Renegotiated Deal for Ratner at AY
Only the Blog Knows Brooklyn, Breakfast-of-Candidates (33rd Edition): Ken Baer
Louise Crawford interviews Ken Baer, candidate for the City Council in the 33rd District.
Baer was a very early opponent of Bruce Ratner's Atlantic Yards project. In 2004, he attended one of the very first meetings organized by Develop Don't Destroy at a local school and instantly had a bad feeling about the oversized project which left the community out of the development process.
He continues to be an aggressive opponent of the project...
Curbed, Frank Gehry's Beekman Tower is Only Gehry on the Surface
Gehry's East River Guggenheim never happened, his New York Times Tower design was passed over for Renzo Piano's rods, and Atlantic Yards—well, we all know what happened there.
Gideon's Trumpet, Atlantic Yards Project — More Problems
It reports that the redeveloper is experiencing problems raising the funds necessary to complete the project as planned.
...No kidding, fellows. Don’t that beat all?
The redeveloper, Bruce Ratner, is quoted as offering the excuse that “Delays due to litigation and a difficult economic environment required the approved changes.” But isn’t that how the development cookie crumbles? Surely, Mr Ratner did not expect that the property owners whose land he covets for his development would quietly go along with his vision, and offer no resistance to being kicked out of their homes and businesses for his benefit, without full compensation for all their economic damages. So litigation of this type — over proposed development — is par for the course; as the California Supreme Court once explained, it it is only to be expected as “normal” delay.
Cash Cow, Barclays gets a New York subway station named after it
While naming a subway station will certainly get a lot of visibility and awareness, it seemed to have created a negative impact judging by the comments on the article on New York Times. So the marketing move may rebound on Barclays.
Posted by eric at June 26, 2009 12:02 PM