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August 23, 2009
Reminder: There's Still Time to Submit Comments to the ESDC
Council of Brooklyn Neighborhoods
The Empire State Development Corporation (ESDC) says they want your comments on the proposed Atlantic Yards.
The Council of Brooklyn Neighborhoods has an online handbook (PDF document) to help you draft your comments.
Here are two topics, taken from CBN alerts circulated via email, meant to get the thinking process going:
Affordable Housing
How will the "affordable" housing be subsidized when sources of financing for affordable housing have not yet been allocated and are scarce?
Given that recent reports indicate that new construction as well as other first-class apartments will rent at figures lower than the rates projected (in 2006) for the highest tier of "affordable housing" (141-160% of AMI, resulting in rentals of approximately $3000 per month), how confident are you that the affordable housing would be less costly than market rate?
- What percentage of the affordable housing would be at or above market rate in Phase I?
- What percentage of the affordable housing would be at or above market rate in Phase II?
MTA benefits of renovated rail yard
The Metropolitan Transportation Authority is a participant in this project according to the MGGP.
How does allowing FCR to build a rail yard with a 56-car capacity as a replacement for a yard with 72-car capacity constitute an upgrade?
How does the MTA justify hitting subway and bus riders with a 12.5% fare increase on June 28th just days after the MTA's board gave FCR an 80% discount on its down promised payment of $100 million for the 8-acre Vanderbilt Rail Yard.
The original MTA request for proposals (“RFP”) in May 2005 required a business plan and profit projection from respondents. FCR refused to provide the required profit projection at that time but still was chosen as sole developer for the Project.
Did FCR provide those figures since then?
Has FCR now provided these projections, updated to 2009, to the MTA as part of the renegotiation of their deal?
If not, is the ESDC going to require that those figures be presented before it approves the Modified GPP? If not, why not?
Posted by steve at August 23, 2009 8:08 AM