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November 13, 2009
It came from Develop Don't Destroy Brooklyn...
A New London Outcome Can and Should be Forestalled in Brooklyn
Broken promises, aka highly speculative "economic development" plans," have now played themselves out in New London, Connecticut, leaving stolen homes and a dust bowl. The same kind of promises by Ratner and New York State have already been broken before the state steals private property by eminent domain.
The predictable outcome of the bogus and inflated Atlantic Yards "economic development" speculation can be forestalled by our elected officials and courts, rather than lamented in the press ten years from now. It is not too late.
With 32 Business Days Before an IRS Deadline, Ratner Arena Bond is a Struggle
Ratner said he'd float his arena bond in September, then he said early October, then late October, then early November....here we are, November 13, and there is nothing but reports about the developer's trouble getting a good rating and insurance for the tax-exempt bond.
What's the big deal?
If the state doesn't issue his arena bond by the end of 2009, he will lose the tax-exemption which most observers agree would be fatal to the Atlantic Yards project.
Posted by eric at November 13, 2009 4:56 PM