March 11, 2011
Why did Forest City Ratner try to get Carlton Avenue Bridge money from Kruger? Because they're scrounging for it; my queries haven't been answered
Atlantic Yards Report
Why was Forest City Ratner, as of December 2010, trying to get $9 million in state subsidies for the Carlton Avenue Bridge out of state Senator Carl Kruger, charged today along with lobbyist Richard Lipsky in a federal corruption case?
Because the developer still needs to pay for reconstruction of the bridge. (And the money sought from immigrant investors via the EB-5 program, though promoted as going to the bridge, would more likely go to refinance a land loan.)
I've tried several times over the past months to learn more about the bridge, to no avail.
I queried the New York City Department of Transportation (DOT) last November 12 regarding an apparently federal earmark as well as the current budget for and progress on the bridge. Despite several follow-up requests, I never got a response.
I posed the same questions to the Atlantic Yards District Service Cabinet on January 25 via City Council Member Letitia James and Carlo Scissura, the Borough President's Chief of Staff. No answers were forthcoming at the meeting February 10.
The Carlton Avenue Bridge is supposed to cost $40 million. The city in 2007 allocated $7 million. According to a 6/24/10 ESDC document (embedded below), which allowed the disbursal of additional City funds for the bridge:
It is expected that the Carlton Avenue Bridge related infrastructure work will cost in excess of $40 million. The City shall fund $24 million of the cost of the Carlton Avenue Bridge related infrastructure work. The remaining cost will be funded by Forest City.
NoLandGrab: Most unintentionally sincere quote from the 53-page federal indictment of Carl Kruger, Richard Lipsky et al Kruger: "the bridge is out."
Posted by eric at March 11, 2011 12:14 AM