« BQE planners take Heights off the hit list | Main | REMINDER: Today, Noon Press Conference and Protest of NBA's Approval of Prokhorov as Nets Owner »
June 24, 2010
Atlantic Yards governance bill, round two; new version aims to establish ESDC subsidiary to enhance accountability (& ESDC is supportive)
Atlantic Yard Report
A new bill establishing a different version of a governance entity to oversee Atlantic Yards and make it more accountable has been introduced in the state Assembly by Assemblyman Hakeem Jeffries. It's already passed the Corporations, Authorities and Commissions Committee.
(A companion bill has been introduced in the state Senate by Senator Velmanette Montgomery.)
It may mean a different fate than the bill that died last year.
Empire State Development Corporation (ESDC) spokesman Warner Johnston stated, "We are aware and have been working with Assemblyman Jeffries and other electeds on elements of this bill. We are extremely supportive of what this bill will mean for the future of the Atlantic Yards project. More details will be forthcoming at a later date."
I'm waiting to learn whether powerful Assembly Speaker Sheldon Silver has expressed any opinion on the bill.
The rationale and the structure
The essential argument, pushed by BrooklynSpeaks in the summer of 2007, is that projects like Atlantic Yards can change enormously over decades, which is why all other major projects, from Brooklyn Bridge Park to Battery Park City, have their own governance entities and are more accountable to the public.
A lack of such a governance entity leaves more power in the staffers of the ESDC, who have multiple responsibilities and (ultimately) will leave, and thus in developer Forest City Ratner.
The entity would oversee implementation of the design guidelines, coordinate the involvement of state and city agencies responsible for the environmental impact mitigations, coordinate policies regarding transportation, and approve changes to the General Project Plan.
(Today, the Empire State Development Corporation board is expected to approve changes to the Atlantic Yards state and city funding agreements, but those changes have not been made public in anticipation of the vote.)
The big change in the new bill is that, rather than set up a new public benefit corporation, it directs the ESDC to establish a subsidiary corporation for planning and oversight of Atlantic Yards.
Also, unlike the previous Atlantic Yards Governance Act, it does not specify how members of that corporation are appointed, but leaves that to be resolved later. That may be part of why the ESDC is supportive.
NoLandGrab: Maybe it's us, but the ESDC's enthusiasm portends that this will end up being little more than lipstick on a hockey mom.
Posted by eric at June 24, 2010 10:22 AM