Ratner wants stimulus money for Yards
February 10, 2009 05:35PM
Atlantic Yards project
Developer Bruce Ratner is reportedly lobbying for a portion of the federal stimulus package to go toward his $4 billion Atlantic Yards project. Brooklyn Borough President Marty Markowitz said Atlantic Yards, which includes an arena, apartment buildings and office towers, is exactly the kind of project the government has been talking about funding. But critics of the project said funding Atlantic Yards construction won't create long-term jobs. Meanwhile, Treasury Secretary Timothy Geithner today announced stricter measures for tracking the use of federal stimulus funds.
[NY1]
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Comments
Tom
If Ratner is unable to complete the project, he should be removed as the designated developer. I don't see how he was chosen anyway. Doesn't anyone from the city look at existing properties of those who bid RFPs? He builds absolute junk.
Comment #1 Posted By: Tom 02/10/09
Anonymous
I think he should get it - this is the kind of money the government should be spending. It employs thousands who would otherwise be unemployed and builds thousands of affordable units. Plus property tax revenue will eventually increase and moving the Nets to NY from NY will increase payroll taxes etc. I'm no fan of Ratner and could care less about what happens in Brooklyn, but projects like this are what we need.
Comment #2 Posted By: Anonymous 02/10/09
Anonymous
Ratner is like everybody else in NYC... Too greedy... I won't give a dime of my taxpayer money for this guy to build with union contractors that are ripping everybody off... The funny thing about this is that the city used eminent domain to take businesses out and now the lots are sitting empty...
Comment #3 Posted By: Anonymous 02/10/09
Anonymous
Typical eminent domain story. Gee, all we have to do is crush these small time property owner's rights and we can generate more tax money for us to spend. Yeah. Then, oops. We couldn't have possibly known that 16 buildings and a new sports center and a new transit center would be too much too big top slow, whatever. Let's give the politically connected developer more money because he will give us some more donations and maybe some free seats at the stadium. How pathetic and how against what this country should stand for.
Comment #4 Posted By: Anonymous 02/11/09
Anonymous
First off if any money is to be used for this project the taxpayers should get a precentage of any profits and stock in his company. Also as for the banks all executive saleries should be capped and no bonuses given. If he agrees to these limitations (oh lets not forget our great corrupt unions) and the unions actually get the job done on time without extras or overtime, it would be well spent.
Comment #5 Posted By: Anonymous 02/11/09
Anonymous
This project should have died years ago - run a pro forma on the commercial space or the apartments and you'll see it makes ZERO financial sense. This is all about the egos of a few bad men - Bruce Ratner, Marty Markowitz, and Pataki's lame development czar, Charles Gargano. So why do the overactive egos of these men have to cost taxpayers tens of millions? Like Bloomberg's field of dreams on the westside, this project will die a slow, ugly death. Ratner's stock has lost 90+ % of its value and the Nets will stay in NJ - Newark will be their new home. Yet the citizens of New York will be left out in the cold. What's a few million wasted anyway? Gov. Patterson ought to do us all a favor and kill this turkey.
Comment #6 Posted By: Anonymous 02/13/09
Anonymous
Bruce Ratner has spent most of his lifetime raising and donating money for major charites. He is non sexist, non racist and concerned with global human rights issues. He is very loyal and generous to his employees and family, and brought billions of dollars into Brooklyn already. If his project fails, it's because of the credit markets, not because it wasn't a viable project by which many New Yorkers would have greatly benefitted.
Comment #7 Posted By: Anonymous 02/21/09