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March 3, 2010
BrooklynSpeaks: relaxed deadlines and housing minimums for AY could mean vastly diminished benefits
Atlantic Yards Report
Few have paid attention to the news, contained in a Development Agreement made available only in late January, that developer Forest City Ratner has 12 years to build Phase 1 of the Atlantic Yards project and 25 years to build the project--both with generous options for extensions.
However, with a press briefing yesterday and a PowerPoint presentation titled "From political theater to public loss," BrooklynSpeaks packaged some of the relevant information, providing new estimates of the loss to the public caused by the delayed provision of affordable housing.
I think the calculations exaggerate the losses, but even the use of more conservative assumptions would generate a significant loss.
"This is definitely a classic bait and switch situation," said Michelle de la Uz, executive director of the Fifth Avenue, a constituent group of BrooklynSpeaks, "When it comes to used cars, we have a lemon law. When it comes to hundreds of millions of dollars in lost benefit to the public, we have no protections."
"There's a tremendous amount of time value to the benefits this project was going to deliver," added Gib Veconi of the Prospect Heights Neighborhood Development Council (PHNDC).
While not directed specifically at Justice Abraham Gerges's decision Monday approving condemnation, Veconi's statement rebuts the judge's questionable failure to reject the state's assertion, "Whatever the pace may be for the delivery of the many public benefits of the Project, the nature of those benefits remains the same."
Related coverage...
Brooklyn Daily Eagle, Litigation Continues Over Atlantic Yards
Despite Justice Abraham Gerges’ decision Monday transferring the title of the land held by the remaining property owners in the Atlantic Yards “footprint” to the state, several lawsuits regarding the controversial development project are still pending.
BrooklynSpeaks, a community initiative, awaits the decision for its suit, filed in November 2009, which challenges the approval process for Atlantic Yards.
...Tuesday, BrooklynSpeaks held a media briefing at the offices of the Fifth Avenue Committee on DeGraw Street for an in-depth discussion of what’s changed now that the final agreements have been signed. The group discussed how the public should be concerned, and the growing amount of attention that the abuses in public/private partnerships have been receiving.
Bruce Ratner, the developer of the Atlantic Yards, and Brooklyn Borough President Marty Markowitz, have said the Atlantic Yards will lead to the creation of affordable housing, construction jobs, and permanent employment opportunities for thousands of Brooklynites.
But according to data gathered by BrookynSpeaks, the benefits to the public are nothing close to what was promised in 2006.
The Local [Fort Greene/Clinton Hill], Public Benefits of Atlantic Yards Project “Negotiated Away,” Says Opposition Group
“It’s a deal done behind closed doors with no public accountability,” said Jo Anne Simon, Democratic District Leader 52nd Assembly District. “A public-private partnership where the public is not represented.”
BrooklynSpeaks is now advocating for an oversight entity with a board that includes appointees from the community and elected officials. The organization has filed a lawsuit challenging the ESDC’s approval of the Atlantic Yards Modified General Project Plan and they said they expect a decision in the next few weeks.
Posted by eric at March 3, 2010 12:57 PM