AY financing investigation proposed

June 20, 2008 11:32AM

Community group Develop Don’t Destroy Brooklyn has
asked the state’s Public Authorities Control Board to assess the
financing of the Atlantic Yards
project because of its increasing cost, and find out if there are
sufficient funds committed to the project. In 2006, a report said
the Barclay’s Arena alone would cost about $637 million, but developer
Forest City Ratner said in March that the cost had risen to $950
million.


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