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November 26, 2009
Atlantic Yards Freedom-Fighters Dealt Blow In Court
Ground Report
By Richard Cooper
A local Libertarian gives his take on this week's high court ruling and calls for a statewide revolution.
The Court used a very sweeping definition of blight to include virtually anything. "Economic underdevelopment and stagnation" are highly ambiguous.
I cannot say that I am suprised by this unwelcome development favoring corporate welfare and eminent domain. New York's eminent domain statute is virtually capital punishment for property owners.
Fox News, Still Think a Man's Home Is His Castle?
According to Glenn Beck, this Thanksgiving, Brooklyn is the new New London.
The homeowners don't want to sell and the Transit Authority has a rail yard there that they don't want to move. So what does the well-connected real estate tycoon do? He goes to the government. And voila: New York's Court of Appeals upheld the state's use of eminent domain for the Atlantic Yards project in Brooklyn.
Let me tell you about the last time this happened. You may remember the name Suzette Kelo. She was a homeowner in New London, Connecticut.
NoLandGrab: Actually, the railyard IS temporarily being moved, to another section of the MTA's property. According to the justices' ruling, the "mild conditions of urban blight" were "principally attributable" to the State-owned railyard, which justifies the State's use of eminent domain.
CoStar Group, NY Court: $5 Bil. Atlantic Yards Project Can Proceed
Of course, if you're a developer, yesterday's decision marks the forwards march of progress:
"We're gratified that today's ruling has once again affirmed the significant public benefit of the Atlantic Yards project," said Forest City Enterprises Inc. President and Chief Executive Officer Charles A. Ratner in a statement. "Brooklyn and the entire City of New York will benefit from the substantial job creation, tax revenues and revitalization that this project will generate.
"This is an important day for Atlantic Yards," Ratner added. "While the economic outlook remains challenging and there are still hurdles to overcome, we are moving ahead with confidence and are fully committed to this great project."
Posted by lumi at November 26, 2009 8:25 AM