There are huge problems with the Ratner plan--the sheer massive, out-scale size of the development; the lack of input from the local community and no input and oversight from the city council, community boards or the state legislature; the seizing of property through eminent domain; and the tremendous financial cost to the taxpayers--approximately $2 billion. Ratner will not pay taxes into the NYC treasury but will pay Payment in Lieu of taxes; and the city and state will compel taxpayers to support Ratner's profits by giving him at least $555 million in tax-exempt bonds, and close to $2 billion in tax breaks, exemptions, cheap land, and direct subsidies. As you well know, NYC can ill afford to lose this revenue.
A tremendous amount of infrastructure and a huge increase in public services will be needed to support this development. No thought apparently was given to the massive increase in traffic, the 18,000 people swarming into the local neighborhoods to attend the Arena events 250 days of the year, and the 15,000 new residents added to the community.
The magnitude of this development will have a detrimental effect on Brooklyn--economic displacement and the loss of the special diverse, historic character of the surrounding communities. Brooklyn is a special place. After Ratner, it will be no more. Ratner's development plan for the Atlantic Yards is the poster child for rampant, unsustainable development.
There are huge problems with the Ratner plan--the sheer massive, out-scale size of the development; the lack of input from the local community and no input and oversight from the city council, community boards or the state legislature; the seizing of property through eminent domain; and the tremendous financial cost to the taxpayers--approximately $2 billion. Ratner will not pay taxes into the NYC treasury but will pay Payment in Lieu of taxes; and the city and state will compel taxpayers to support Ratner's profits by giving him at least $555 million in tax-exempt bonds, and close to $2 billion in tax breaks, exemptions, cheap land, and direct subsidies. As you well know, NYC can ill afford to lose this revenue.
A tremendous amount of infrastructure and a huge increase in public services will be needed to support this development. No thought apparently was given to the massive increase in traffic, the 18,000 people swarming into the local neighborhoods to attend the Arena events 250 days of the year, and the 15,000 new residents added to the community.
The magnitude of this development will have a detrimental effect on Brooklyn--economic displacement and the loss of the special diverse, historic character of the surrounding communities. Brooklyn is a special place. After Ratner, it will be no more. Ratner's development plan for the Atlantic Yards is the poster child for rampant, unsustainable development.