The Real Deal New York

Crucial court ruling on AY eminent domain expected soon

November 18, 2009 12:59PM

A New York Court of Appeals ruling on the use of eminent domain in securing land for the controversial Atlantic Yards development is expected as early as tomorrow. The ruling could prove pivotal for developer Bruce Ratner’s project, which has drawn fervent supporters and detractors through its long process of deliberation. The timing of the ruling is significant for Ratner, who is racing to beat a Dec. 31 deadline in order to receive tax-exempt status on $600 million in bonds and to commit Barclays and the New Jersey Nets for the project.

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