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New York

Decision on City Point funding expected today

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The New York City Economic Development Corporation is expected to decide today whether to grant $20 million in tax-exempt bonds to stalled project City Point, a Downtown Brooklyn development on the former Albee Square Mall site. If granted the funds, City Point would be one of the first U.S. developments to receive the federal stimulus program bonds. During a public hearing last Thursday, several Fort Greene residents protested the possible funding, arguing that the money would be better used on low-income residential assistance.

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BrooklynCity PointDowntown Brooklyn