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September 30, 2010
While Ratner wants to use Chinese millionaires' money for railyard and land loan, in China, program portrayed as a piece of Nets/arena
Atlantic Yards Report
There's something very, very strange about the way the New York City Regional Center, the private company authorized to sign up green card-seeking investors, is marketing the Atlantic Yards project in China.
While developer Bruce Ratner told the Wall Street Journal that the $249 million sought from perhaps 498 foreign investors would be used to build a permanent railyard and perhaps pay off the company's refinanced land loan, in China, the investment is being portrayed as strongly connected to the Nets and the Barclays Center.
Another oddity: a graphic below regarding the investment adds $249 million in EB-5 investment funding to city, state, and public/private bond funding, for a total of $1.448 billion, a project figure not previously presented.
...On the web site set up by Kunpeng International Business Consulting, authorized agent for the NYCRC, Nets stars Brook Lopez and Devin Harris are at the top.
Click through for numerous screen shots, and a bit more commentary from Norman Oder.
Posted by eric at September 30, 2010 1:08 PM