Atlantic Yards breaking ground in December?

Developer Bruce Ratner said he will break ground on the $4 billion Brooklyn Atlantic Yards project in December. Whether Ratner will be able to meet his deadline is uncertain, given the softening economy, credit crisis, rising costs and various lawsuits against the project. Financing for the plan is also dependent on the Treasury Department deciding whether Ratner is allowed to use tax-exempt bonds. The city and state have already agreed to provide $300 million in subsidies and tens of millions of dollars in tax breaks. Ratner recently asked for about $100 million in extra cash for the project.

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