Bloomy slams “Ratner carve-out”

The Brooklyn Paper
Share on TwitterTweet
Share on Facebook

Don’t miss our updates:

Bruce Ratner “doesn’t need” the massive public subsidy handed to him by the state Assembly last week, Mayor Bloomberg said on Friday — and called for Gov. Spitzer to block the legislation.

In slamming the Assembly handout — which the mayor estimated would cost taxpayers $300 million, not the $175 million originally estimated by government watchdogs — Bloomberg has joined the chorus of advocates, legislators and Atlantic Yards opponents condemning the amendment that would give special treatment to the mega-developer.

“[The bill is] going to hurt the very people that everybody talks about helping and gives some tax breaks to a developer that doesn’t need them and which we didn’t have to do,” Bloomberg said on his weekly WABC radio show on Friday morning.

The mayor added, “I can only hope that the Governor stands up and vetoes [the bill],” which is now awaiting approval from the Senate after passing in the state Assembly last week.

Bloomberg has been an outspoken supporter of the $4-billion residential, arena, office and retail complex. His criticism of the subsidy handout is the first time he has publicly opposed a proposed tax break for the powerful developer, a former city bureaucrat and a college buddy of former Gov. George Pataki.

The city estimates that the developer-specific bonus would cost the city $300 in property tax revenue — a projection nearly double the $175 million loss estimated last week by governmental watchdogs.

See our earlier report, a Paper Explainer, and the Paper’s editorial.

Updated 4:30 pm, July 9, 2018
Today’s news:
Share on TwitterTweet
Share on Facebook

Don’t miss our updates:

Reasonable discourse

Comments closed.

First name
Last name
Your neighborhood
Email address
Daytime phone

Your letter must be signed and include all of the information requested above. (Only your name and neighborhood are published with the letter.) Letters should be as brief as possible; while they may discuss any topic of interest to our readers, priority will be given to letters that relate to stories covered by The Brooklyn Paper.

Letters will be edited at the sole discretion of the editor, may be published in whole or part in any media, and upon publication become the property of The Brooklyn Paper. The earlier in the week you send your letter, the better.

Keep it local!

Stay in touch with your community. Subscribe to our free newsletter: