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July 21, 2009
Forest City in the News
BisNow, DC Commercial Real Estate
Reminder: Tomorrow [7/21/09] is Bisnow's big Breakfast & Schmooze at the Reagan Building! Join two of real estate’s top figures, JBG’s Mike Glosserman and Forest City’s Debby Ratner Salzberg, with Senator Mark Warner, FBR co-founder Russ Ramsey, Clinton Budget Director Alice Rivlin, new Burke & Herbert CEO Hunt Burke, and top lobbyists to hear the latest on federal stimulus and the economy. Recession-busting prices! Sign up!
The Cleveland Leader, RTA Takes Us for the Wrong Ride
If you think that the Ratners have landed a sweet deal with the Metropolitan Transportation Authority, check out what they have going in Cleveland:
Despite the fact that these RTA [Regional Transit Authority] facilities help Tower City, RTA pays some $1 million a year to Forest City Enterprises, owner of Tower City. It’s annual fee for RTA’s use of space into Tower City. RTA pays an addition $32,000 to “reimburse” Tower City for central plant operations. It even pays a utility charge for use of the escalators! There’s room for negotiations here to lower costs.
Isn’t it time to renegotiate these fees lower since there’s less use and Tower City seems to always get reductions of its property taxes?
Posted by lumi at July 21, 2009 4:49 AM