ESDC Forced to Cough Up Financial Docs on AY
After dragging its feet for two years, the Empire State Development Corporation signalled yesterday that it would finally release documents containing financial information about the Atlantic Yards project. After the ESDC fought a freedom of information reques last year, Assemblyman James Brennan teamed up with state Senator Velmanette Montgomery on Monday to file a lawsuit…
After dragging its feet for two years, the Empire State Development Corporation signalled yesterday that it would finally release documents containing financial information about the Atlantic Yards project. After the ESDC fought a freedom of information reques last year, Assemblyman James Brennan teamed up with state Senator Velmanette Montgomery on Monday to file a lawsuit against the ESDC for improperly withholding the financial documents. One reason opponents of the project are so curious to see the documents is to get a better view into how profitable the project is expected to be for Bruce Ratner, hoping that big numbers would undermine his argument for needing to make the site so dense. The craving for transparency is due in part to the fact that the project gets to by-pass the city’s land-review process because so much of the land is state-owned.
Lawmakers Push for the Release of AY Financial Documents [NY Sun]
Photo by nautical2k
Both U-Haul and those “crappy” auto repair shops not only provide needed services, but also jobs. How nice eminent domain can be put to work for you by screwing a whole lot of other people, including the taxpayers who can watch their money fill your- and Ratner’s- coffers.
You my friend are a mole
12:47 – Actually since I have to live somewhere, I would either take my windfall profits and immediatly buy an even bigger and better home somewhere else – thereby locking in even more future gains (if RE continues up)for my fickle future kin,
or
I’d immediatly take 1/2 the money and buy a comperable property to what I just sold and take the other 1/2 and diversify my investments teaching my fickle future kin that diversification is actually the key to sound investing.
Either way I am far, far ahead then if Ratner hadnt come my way and bought out (at far abouve mkt prices) my poorly made (by virtually all accounts) new condo next to an empty rail yard, empty lots, a uhaul facility and some crappy auto repair shops.
“Eminent Domain is not “stealing” – it is a process outlined in the Constitution and requires just compensation “- yes David, but that’s not the enitre story. eminent domain was also defined so as to limit its use to specific areas. using eminent domain for private developers like ratner was never the intent. Not only is the use of ED for Ratner’s project illegal if you go by the constitutional intent, but the end use will not be for the general public, but only for who can afford to pay Ratner for its use. A public road is for everyone. A bridge is for everyone. the Nets are for those who pay for the tickets, and the profit goes to Ratner, not the general public or the public project. So if using ed for private development is illegal, then “stealing” is the proper definition.
Public good has been increasingly broadly defined by those greedy for money, and power, and who seem to be increasingly smug in the idea that the public is so stupid it doesn’t doesn’t know when its being screwed. I would never underestimate the public, if i were them.
So, David, in your opinion, the use of eminent domain is justifiable whenever anyone wants to build densely? Because you’ve made a very strong case on another thread that we should build high rises in the places where people want to live. Seems to me that in order to satisfy the demand, the State should be seizing property all over the place and delivering it into the hands of developers who are going to build big.
It does get a bit confusing when you have to justify the “blight” designation. After all, it’s hard to argue that an area is “blighted” when so many people are so desperate pay big bucks to live there. But I’m sure you’ll figure a way to argue around that.
12:57 iz me, ov corse.
Gee, so sorrie, 12:05, that I tipe much faster than I spelle. If I offend you that muche, I’ll juste impail myself on my keybord, in abject apologie. My imperfection in the fase of yor perfectshun is more than I can bare.
I wouldn’t call it stealing if it was my home, especially if I had sold to Ratner for double the value on a condo I’d purchased only a few months earlier.
Give it up. Drama has failed you guys from the start and is not going to work at this late stage of the game.
Shahn, will you please email Ed so he’ll stfu.