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January 19, 2011
Great moments in euphemistic coverage: the Wall Street Journal reports on Steiner Studios expansion, ignores EB-5
Atlantic Yards Report
From the Wall Street Journal yesterday, regarding the expansion of Steiner Studios at the Brooklyn Navy Yard, Take Two for a Brooklyn Film and TV Studio:
Doug Steiner, chairman of Steiner Studios, says about $65 million will come from private investors, $10 million to $20 million will come from Steiner and the rest will come from government programs.
Those private investors are immigrant investors trading $500,000 for green cards for themselves and their family under the federal government's EB-5 program, as the New York City Regional Center (NYCRC) reminds us.
The NYRCR is promoting another, more controversial effort to trade green cards for investments, involving Atlantic Yards.
Posted by eric at January 19, 2011 11:12 PM