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December 9, 2009
Congratulations Bruce
Huffington Post
By Paul Sonn
Congratulations Bruce Ratner, your subsidy-sucking Atlantic Yards scheme is now the poster-project for financial houses of cards.
From an opinion piece about the fight for a living-wage guarantee for the Kingsbridge Armory:
In fact, if slight upward pressure on the wages for the very lowest-paid employees would jeopardize the Kingsbridge project's profitability, the city should be asking whether the project as a whole is financially viable. The financial vicissitudes of Brooklyn's Atlantic Yards project stand as a recent cautionary tale in this regard. If a living wage requirement would sink the Kingsbridge Armory project despite a large public subsidy, elected leaders should question whether the project is sufficiently sound to merit public resources in the first place.
Posted by lumi at December 9, 2009 6:37 AM