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 on March 30, 2006, 12:51 pm
In category: Community Development,Gotham City,Public Finance | 2 Comments »

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2 Responses to “Arena and Stadium Money Flows Freely”

  1. james joseph Says:
    March 31st, 2006 at 1:30 am

    The only problem is Purnick never does discuss how the $700,000 will be distributed, and she never even mentions that this so-called “person of stature” will be appointed by the Bronx delegation. It’s the most superficial discussion of the issue yet. What is wrong with the NYC media? They’re part of the “where’s mine” problem that’s set to take advantage of the community, which is dead-set against the project. Let me repeat: THE COMMUNITY DOESN’T WANT THIS STADIUM!!!!

  2. Mike Mikes Says:
    March 31st, 2006 at 4:04 pm

    The Post says today that state lawmakers are trying to find funding in this budget for a new Metro-North station next to the Yankee Stadium.

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