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May 24, 2012

Forest City Ratner's savings from scrapping the MetroCard bundled with ticket: perhaps $2 million to $3 million a year

Atlantic Yards Report

“We might be able to put a ticket on a MetroCard, but we might not be able to put a MetroCard on a ticket," Forest City Ratner executive Jane Marshall said at a public meeting in May 2011.

And the plan was part of the suite of strategies promised in the Amended Memorandum of Environmental Commitments the developer signed with the Empire State Development Corporation.

But Forest City Ratner officials and consultant Sam Schwartz yesterday said it would be impractical to link a MetroCard to a ticket, that it would not serve as a practical incentive, and that many arena-goers already have unlimited ride MetroCards.

All of those are plausible, but another angle on the issue should be clear: scrapping the plan would save Forest City Ratner a lot of money.

So, is Forest City Ratner just keeping the cash, or spending the money to otherwise deter driving?


NoLandGrab: Three guesses — and the first two don't count.

Posted by eric at May 24, 2012 12:25 AM