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June 1, 2009
Two points got lost in media circus
Who were the hard-hatted guys in orange vests really?
In general, the media gave a pass to all of the newly minted hard hats who showed up at last Friday's hearing on Atlantic Yards. Most of the press coverage called them "construction workers," yet no one appeared to have interviewed any of these workers to learn where they received their brand new hard hats (notice the lack of scuff marks) and safety vests (ditto, and you can still see the folds). Presumably, they were compliments of Forest City Ratner or one of the astroturf organizations founded to support the megaproject.
Land valuation coming up
Toward the end of the hearing, George Sweeting, from the city's Independent Budget Office, brought up the issue of the upcoming bond offering, the value of which will be based on the value of the land:
"...it is notable that the land assessments for the parcels under the arena have more than tripled in the last three years."
The value of this land will allegedly be based on comparisons with property in the surrounding area, a comparison that was never made when the land was declared blighted by the Empire State Development Corporation.
Seriously, if this neighborhood is "blighted," then how in hell is the land underneath the arena supposed to triple in value during the past few years?
Posted by lumi at June 1, 2009 5:31 AM