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April 5, 2012

Yonkers is nearly broke, and "one-shot budget gimmicks" like Ridge Hill payment are part of the problem

Atlantic Yards Report

Remember the just-concluded Yonkers corruption trial, regarding, in part, ex-Council Member Sandy Annabi's 2006 vote in favor of Forest City Ratner's Ridge Hill retail/residential project?

The ostensible justification for the vote, argued vigorously by Annabi's lawyer, was the developer's willingness to pay $10.8 million more. Prosecutors said the money was "peanuts," in the words of one pro-project Council Member, and that Annabi flipped because of her relationship and reliance on funds from her political mentor, Zehy Jereis. Both were convicted.

Though Annabi's attorney argued that that was the best deal available, it had already been on the table.

Now, offering more backing for the prosecution's theory, a new report notes that the Ridge Hill payment was just one of several unwise "one-shot budget gimmicks" used by the city.

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Posted by eric at April 5, 2012 8:51 PM