Coverage of MTA hearing/Vote on Atlantic Yards, With Video

June 25, 2009

The board of the Metropolitan Transportation Authority met yesterday and voted 10-2 to allow Forest City Ratner to stretch paments for the Atlantic Yards over 22 years. Norman Oder at Atlantic Yards Report has coverage of the hearing and a video. Here's an excerpt:

A warning by veteran Assemblyman Jim Brennan that they were
squandering their assets, a recommendation of caution by the
Straphangers Campaign, and even a request by the Atlantic
Yards-supporting Regional Plan Association that the deal be
renegotiated, the board of the Metropolitan Transportation Authority
(MTA) yesterday voted 10-2 to allow Forest City Ratner to stretch payments for the Vanderbilt Yard over 22 years, at a generous interest rate, and
to build a smaller railyard worth $100 million less than originally
promised. A diminished temporary yard could persist  more than twice as long as originally planned.

Filed under: Atlantic Yards  by · 2 Comments
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2 Comments on Coverage of MTA hearing/Vote on Atlantic Yards, With Video

  1. chandru on Thu, 25th Jun 2009 9:34 am
  2. “and to build a smaller railyard worth $100 million less than originally promised”
    And, of course, with no more “affordable housing” component…which was iffy at best.
    Wonder what Acorn (the minority housing alliance that was a rah-rah cheerleader of this project) would say now? Would they still be under their contractual no-badmouthing Ratner clause?

  3. London escorts on Fri, 16th Oct 2009 1:06 pm
  4. To chandu:
    I don’t think they would.