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New York

City, Ratner nearing 421-a deal?

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Although the Bloomberg administration was said to be close to pulling more than $100 million in subsidies from Forest City Ratner’s Atlantic Yards project, the city is now near a compromise with the developer over middle-income housing. The city was reportedly going to pull subsidies from the project because of provisions in the 421-a bill that recently passed the Legislature. The clauses in question would give Forest City an extra $300 million in tax benefits and cut into the construction of low-income housing in Atlantic Yards. more [Post]