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April 14, 2011

ESDC CEO Adams, asked about AY at third Senate Committee, calls arena the project's "core," fully supports project, expresses optimism about buildout

Atlantic Yards Report

This updates and corrects my coverage of last week's set of state Senate hearings on the nomination of Kenneth Adams as President and CEO of the Empire State Development Corporation (ESDC).

I mentioned two committee hearings on 4/5/11, but missed another, that involving the Corporations, Authorities and Commissions Committee. And at that hearing, unlike the other two, Adams was asked briefly about Atlantic Yards.

Adams expressed optimism that the delayed project would proceed, spoke vaguely about ensuring community voices would be heard, and, when asked about eminent domain, changed the subject to explain how, with incentives for projects smaller than Atlantic Yards, the state does better to ensure that promised results be delivered before benefits are paid out.

He described Atlantic Yards as a project that his agency fully supports. No one challenged him on how such support, manifested in contracts like the Development Agreement that give the developer a long leash, can be harmonized with incentives that ensure promised results are delivered.

Click through for more, including video.

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Posted by eric at April 14, 2011 12:55 PM