« Atlantic Yards YES! New York City's sales-tax payers, NO!! | Main | What could $20 million buy? A Manhattan site for a 46,000 square-foot building »
June 16, 2009
Statistics on accepted appeals suggest eminent domain appeal has tough road
Atlantic Yards Report
Every case is different, and lawyers for Develop Don't Destroy Brooklyn think they have a strong argument for appealing the unanimous rejection of the Atlantic Yards eminent domain case to the Court of Appeals, the state's highest court.
But the New York Law Journal suggests that chances are low...
That means if the case does gets accepted, the delay could throw a monkey wrench into plans to have tax-exempt bonds issued by the end of the year.
Then again, I've been told, there are ways to have bonds issued but to put a hold on the process, thus raising costs for the borrower somewhat but not removing the substantial advantage--at least $150 million on the arena--such tax-exempt bonds would offer.
Posted by lumi at June 16, 2009 4:42 AM