Tax dollars paid for this mess

The Brooklyn Paper
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Bruce Ratner was called generous when he bought out tenants in the footprint of his proposed basketball arena in 2004 — but he could afford to be because he was paying with taxpayer money.

According to the just-released funding agreement between the city and Forest City Ratner, the $100 million for “land acquisition” that the city set aside in 2006 will reimburse the developer for the private land he bought to assemble the project’s superblock.

That includes deals that made millionaires out of condo owners who agreed to sell to Ratner while the threat of eminent domain loomed.

The funding agreement was obtained by the Atlantic Yards Report, a Web site, which acquired it through a Freedom of Information Act request.

“It is unconscionable and indefensible that the city is giving $100 million of taxpayers’ money to pay for Ratner’s strong-arm real-estate deals,” said Daniel Goldstein, the spokesman for Develop Don’t Destroy Brooklyn (who was the one resident of 636 Pacific St. who did not take Ratner’s buyout).

When the city announced its $100-million deal-sweetener in 2006, it was listed on budget documents as “land acquisition.”

Updated 5:06 pm, July 9, 2018
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Reasonable discourse

Norman Oder says:
It's amusing that, when the Brooklyn Paper gets a story secondhand about the arrival of a winery in Red Hook, the source is "Dr. Vino, a seminal wine world blog," but this article is credited merely to "the Atlantic Yards Report, a Web site." That obscures the fact that I've been offering daily Atlantic Yards coverage and breaking news regularly for years.

And the original coverage of the story above:
May 1, 2008, 7:58 pm
eastRiverpipe from DUMBo says:
Norman deserves a Polk or Pulitzer. Gersh, it reflects poorly on you to ignore his unmatched contribution to the media coverage of Atlantic Yards, makes you look petty. You should be thanking Norman; his work you demean probably saves you and your staff hours and hours of reporting each week so you can spend more time telling the world about your broken angle.

Pay some respect. It will reflect well on you.
May 1, 2008, 10:47 pm
Gersh Kuntzman, Editor from Park Slope says:
We have never demeaned Norman's fine work. In fact, he is credited prominently in the story above.

And, PS, my ankle is fine now. Thanks for asking.

The Brooklyn Paper
May 5, 2008, 9:37 pm

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