Condo opponents propose alternate funding for Brooklyn waterfront park

TRD New York /
Feb.February 23, 2011 11:18 AM

Brooklyn’s new waterfront park could raise up to $7 million a year
without building controversial condominium towers, according to a report
released yesterday, the Daily News reported. Some of the money would
come from an idea calling for the creation of a Park Improvement
District, charging fees to surrounding businesses and property owners.
According to the Brooklyn Paper, the report predicted that $1 million to
$4
million towards the park’s $16 million maintenance budget could come
from a new tax on residents and business owners within a quarter-mile of
the park. Another option is that officials could build new parking lots
or increase their private fund-raising.  Though housing opponent Senator Daniel Squadron said the report “shows it’s possible to fund the park without imposing a new fee on Brooklynites or building new … luxury housing,” Parks Commissioner Adrian Benepe rejected many of the ideas, saying the numbers were too “optimistic.” Other officials also dismissed an idea that many view as the best way to replace condos — cashing in on new tax money from dozens of properties Jehovah’s Witnesses is expected to sell as they move their headquarters upstate. Squadron, who has veto power over new housing in the park, is still pushing the idea, even though Mayor Michael Bloomberg’s representatives on the park board overruled him and left it out of the draft released yesterday. [NYDN] and [Brooklyn Paper]


Related Articles

arrow_forward_ios
Here’s how much Fortis paid for its Jehovah’s Witnesses site

Here’s how much Fortis paid for its Jehovah’s Witnesses site

Here’s what Fortis is planning at former Jehovah’s Witnesses site

Here’s what Fortis is planning at former Jehovah’s Witnesses site

Kayne Anderson lands $200M loan for former Jehovah’s Witnesses building

Kayne Anderson lands $200M loan for former Jehovah’s Witnesses building

These were the biggest Q4 deals in Brooklyn

These were the biggest Q4 deals in Brooklyn

The top 10 biggest real estate projects coming to NYC

The top 10 biggest real estate projects coming to NYC

So long, Watchtower: Famed 70-year-old Brooklyn sign comes down

So long, Watchtower: Famed 70-year-old Brooklyn sign comes down

Jeffrey Gershon closes on Jehovah’s Witnesses Dumbo building

Jeffrey Gershon closes on Jehovah’s Witnesses Dumbo building

Florida firm gets $107M loan for purchase of Jehovah’s Witnesses building

Florida firm gets $107M loan for purchase of Jehovah’s Witnesses building

arrow_forward_ios
Loading...