Arena and Stadium Money Flows Freely
March 30th, 2006
The organization Develop Don’t Destroy Brooklyn, which opposes the plan to build a professional basketball arena in downtown Brooklyn, has posted a page from the recent state budget agreement on its Web site that shows an allocation of $33 million for the Atlantic Yards Project. (The New York Observer’s Real Estate blog says it has confirmation of the amount from a spokesperson for Assembly Speaker Sheldon Silver.)
The $33 million is less than the $100 million developer Bruce Ratner is seeking, but state lawmakers may have to explain why they included it as an amendment to the Education, Labor and Family Assistance section of the budget.
In the New York Times, columnist Joyce Purnick takes on another sports venue, the new Yankee stadium proposal. The article (available only to subscribers) discusses an overlooked issue in the plan – how $700,000 in cash grants to community organizations and 15,000 Yankee tickets will be distributed and how that will affect the City Council’s vote on the project on April 5.By Mark Berkey-Gerard on March 30, 2006, 12:51 pm
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