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May 14, 2012
N.Y. arena subsidized
Edmonton Journal, Letters to the Editor
Some guy wrote a letter to the Edmonton Journal to correct some misperceptions in a letter the paper published last week.
Re: "Two cities, two arenas," by M.L. Clark, Letters, May 11.
M.L. Clark is grossly misinformed in writing that "another, presumably successful funding model appears to be in the works using American ingenuity and entrepreneurship" for the Barclays Center in Brooklyn, N.Y.
In reality, developer Bruce Ratner is receiving at least $726 million in taxpayer subsidies, according to a report issued by New York City's Independent Budget Office in 2009 (ibo.nyc.ny.us/iboreports/AtlanticYards091009.pdf).
However unwise the City of Edmonton's proposed subsidy package for a new arena may be, it surely pales beside the pork being larded on Ratner.
If Edmonton taxpayers are looking for a smarter, fairer way to fund a new arena, they most assuredly won't find it in Brooklyn.
Eric McClure, Brooklyn, N.Y.
Posted by eric at May 14, 2012 11:09 AM