New legislation would rein in Atlantic Yards

New York /
Jun.June 16, 2008 04:29 PM

 
Brooklyn politicians and civic groups proposed legislation today to create a trust that would impose more public control over the construction of Forest City Ratner’s Atlantic Yards mega-project in Brooklyn.

The bill, dubbed the Atlantic Yards Governance Act, is modeled on the Hudson River Trust Act of 1998, which created a public benefit corporation that oversees the park along Manhattan’s western waterfront.

“The Atlantic Yards development is a public project built on public land with public money, therefore it is important to maximize the amount of public involvement,” Democratic Assemblyman Hakeem Jeffries, who is co-sponsoring the bill, told The Real Deal. “The Atlantic Yards Development Trust simply replicates the organizational structure every other development project operates under.”

Democratic Assemblywoman Joan Millman, a co-sponsor, cited the turnover at the state’s Empire State Development Corporation as a reason to give the project a “clear and firm leadership structure.”

The bill would create an Atlantic Yards Development Trust, a committee of 16 officials appointed by the governor, mayor, borough president and other authorities. The committee would oversee the project’s architectural design guidelines, work with state and city agencies concerned with environmental issues, develop policies about transportation and other concerns, and examine any project changes.

A council of local residents would also be created to advise the Trust, with members appointed by local elected officials.

Scrutiny of Atlantic Yards has intensified following Ratner’s recent decisions to downsize the project and delay construction of a centerpiece tower until an anchor tenant is secured.

Forest City Ratner refused to comment.


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Floor & Decor CEO Thomas Taylor and 4 Henry St in Commack (Floor & Decor and Google Maps)
Floor & Decor moving into site of shuttered Target in Commack
Floor & Decor moving into site of shuttered Target in Commack
Photo Illustration of Donald Trump (Illustration by Kevin Rebong for The Real Deal)
Treasury Department must give Trump’s tax returns to Congress: DOJ
Treasury Department must give Trump’s tax returns to Congress: DOJ
Anderson Cooper is selling the apartment of his late mother Gloria Vanderbilt (Getty, Corcoran)
Gloria Vanderbilt’s Beekman Place apartment lists for $1.1M
Gloria Vanderbilt’s Beekman Place apartment lists for $1.1M
Columbia Property Trusts CEO Nelson Mills (iStock)
Columbia Property Trust reports first net loss of pandemic
Columbia Property Trust reports first net loss of pandemic
Mayor Steven Fulop (Getty, iStock)
Jersey City to provide up to $10K more rent relief per tenant
Jersey City to provide up to $10K more rent relief per tenant
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...