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September 14, 2009
Real Estate's Last Stand
Gotham Gazette
by Courtney Gross
Who are big real estate developers supporting in tomorrow's primary?
Wielding the city's most lucrative resource -- land -- developers have long used their purse strings to try to influence City Hall. And this year is no different.
The most viable citywide candidates have collected more than $2.5 million from real estate interests for the 2009 election, according to an analysis by Gotham Gazette. None have collected more than comptroller candidate and Land Use Committee Chair Melinda Katz, who took in more than 30 percent of that figure. Thompson and public advocate candidate and Councilmember Eric Gioia have also pulled in considerable sums, at $393,000 and $314,807, respectively.
At the same time, some of the city's most well known or active developers have increased their donations by more than 30 percent since 2001 -- and we haven't even passed the primary.
...On stage at New York Law School earlier this summer, public advocate candidate and civil rights attorney Norman Siegel gave the audience a warning for this year's election.
"Developers are out of control," he cautioned, wearing his trademark tan suit. "You should ask every candidate here whether they get money from developers. They should disclose what developers they get money from, where they stand on these issues of eminent domain. I, for one, don't get any money from developers."
But no one, not even Siegel or Avella, is immune from the development industry.
Some are more immune than others, however.
Of the citywide candidates, both Avella and Siegel have been the most critical of developers. Nearly all of Siegel's contributions associated with the industry -- which total $8,405 -- come from low-level realtors. He has one $4,950 contribution from a West Harlem developer that fought against the expansion of Columbia University -- a position Siegel also took.
...In Fort Greene, Councilmember Letitia James is facing off against Delia Hunley-Adossa, who is an ally of Atlantic Yards developer, Forest City Ratner. Even though Hunley-Adossa has not received funds from Ratner directly, her ties to the project have caused controversy.
..."If you look at the amount of money [the industry] spends, you find they are one of the biggest contributor blocks as a profession," said Josh Skaller, who is running for City Council in the 39th district in Brooklyn and has pledged to not take developer money. "There is a direct correlation, in my opinion, in how our neighborhoods are being overbuilt right now."
Click thru for lists of the top recipients of developer money — and its sources.
NoLandGrab: Two things to note. Mayor Bloomberg, were he not already New York's richest person (and self-financed candidate), loves developers too, even if he doesn't need their money. And Forest City, which appears to give next to nothing to candidates, actually funnels significant contributions through relatives of CEO Bruce Ratner, including his brother, constitutional rights attorney Michael Ratner, and college-student cousins.
Posted by eric at September 14, 2009 3:50 PM