Update/Question: does anybody know if this made it into the city budget? 

Today we reported in the DFNYC newsletter that we heard that the current version of the proposed city budget includes a $250 million appropriation for Bruce Ratner, the developer of the controversial Atlantic Yards Project in Brooklyn. We asked if you had heard anything about this and we did some research.

It turns out it's *only* $205 million, but it is still controversial. David Michaelson, a DFNYC'er in Brooklyn, reports at this link (scroll down) that:

- $100 million is slated for land acquisition costs on behalf of Forest City Ratner, Bruce Ratner's company, which essentially looks like taxpayers are reimbursing Ratner for the cost to buy the land, basically buying the land for him, and

- $105 million is slated for infrastructure improvements in the area

David argues that none of this $205 million should go to Ratner because there still hasn't been any sort of business plan for the Atlantic Yards. Imagine going to a bank for a loan for your business, and the bank giving you the money with no business plan. And this appears to be a grant of taxpayer money, not a loan. We will keep you posted on this issue. If you have questions or opinions, email us at info-at-dfnyc.org (replace -at- with @).

Here are more links about the $205 million:

DFNYCer David Michaelson's post:http://moleprogressive.blogspot.com/2007/04/progressive-democrat-issue-118-ny-city.html

Atlantic Yards Report (AYR), $205 million for AY seems to double city's pledgehttp://www.nolandgrab.org/archives/2007/01/205_million_for.html

DDDB Press Release:Public Cost of 'Atlantic Yards' Continues to Balloonhttp://www.nolandgrab.org/archives/2007/01/dddb_press_rele_49.html

Field of Schemes, Nets' city subsidy doubled?http://www.nolandgrab.org/archives/2007/01/nets_city_subsi.html

NY Post, CITY DOUBLE-COVER$ B'KLYN ARENAhttp://www.nolandgrab.org/archives/2007/01/city_doublecove.html

AYR, City Hall, obfuscatorily, admits doubling AY fundinghttp://www.nolandgrab.org/archives/2007/01/city_hall_obfus.html

NLG, Mo' Money on the QT?http://www.nolandgrab.org/archives/2007/01/mo_money_on_the.html

Courier-Life, City doubles down on Ratner's Atlantic Yards Project, many cry foulhttp://www.nolandgrab.org/archives/2007/02/city_doubles_do.html

AYR, Public obligation creep: city will spend $100M for AY land acquisitionhttp://www.nolandgrab.org/archives/2007/03/public_obligati.html

AYR, Daily News in the tank? (redux)http://www.nolandgrab.org/archives/2007/03/daily_news_in_t.html

AYR, Inconsistent silence: the Times editorial page forgets Atlantic Yards subsidieshttp://www.nolandgrab.org/archives/2007/03/inconsistent_si.html

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