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New York

Report: Large windfall from Nets arena doubtful

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The proposed New Jersey Nets arena in Downtown Brooklyn would provide the city and state with a net surplus of $107 million over 30 years, according to a report out today by the city’s Independent Budget Office. That’s not much more than the $100 million the government would give to developer and Nets owner Bruce Ratner to build the arena and redevelop the area around it. When the arena opens, the report also concluded, it will provide $7.5 million in annual tax revenue to the city.