Tax plan progresses for Brooklyn Bridge Park

TRD New York /
Dec.December 21, 2010 12:47 PM

Officials at Brooklyn Bridge Park have tapped consulting firm Bay Area Economics to review nine alternatives to building more high-rise condominium complexes within the 85-acre project as a way to offset the park’s anticipated $16 million annual maintenance budget, according to the Post. The park’s Committee on Alternatives to Housing voted unanimously last night to consider using tax revenue that would be generated after some tax-exempt buildings owned by Jehovah’s Witnesses are sold and rezoned for residential use. “I’ve always said there must be alternatives to housing in Brooklyn Bridge Park, and [yesterday’s] vote brings a non-housing funding plan one step closer to reality,” state Senator Daniel Squadron told the Brooklyn Paper. Among the ideas for alternative sources of funding is the creation of a “Park Improvement District,” similar to the plan that private operators of the High Line Park tried with property owners in the Meatpacking District last year, but which was later abandoned. When told of the possible Brooklyn Bridge Park tax plan, two operators of Dumbo-based businesses told the Post said they are prepared to fight it. [Post] and [Brooklyn Paper]


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