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About DDDB
Our coalition consists of 21 community organizations and there are 51 community organizations formally aligned in opposition to the Ratner plan.

DDDB is a volunteer-run organization. We have over 5,000 subscribers to our email newsletter, and 7,000 petition signers. Over 800 volunteers have registered with DDDB to form our various teams, task-forces and committees and we have over 150 block captains. We have a 20 person volunteer legal team of local lawyers supplementing our retained attorneys.

We are funded entirely by individual donations from the community at large and through various fundraising events we and supporters have organized.

We have the financial support of well over 3,500 individual donors.

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"Why should people get to see plans? This isn't a public project."
Bruce Ratner in Crain's Nov. 8, 2009

Ratner Would Fall Short On His Bonds Under Old and New IRS Rules

Bond Buyer
covers yesterday's IRS ruling and explains the problem facing Ratner even if his interpretation of the ruling is that he can have access to triple tax-free bonds for his $950 million arena:
PILOT deals - typically economic development projects - involve payments from private entities that are used to pay debt service on tax-exempt bonds. To meet the tax code's private-payment restrictions, PILOTs must be less than, and commensurate with, the taxes that would have otherwise been collected on the property.
(Emphasis added.)
So, with Ratner's PILOT the question hanging out there, which has been unanswered for years, is how much will the Payment in Lieu of Taxes (PILOT) be? Because from our calculations there is no way the tax assessment for his planned arena would equate to the $800 million bond he will be seeking.

Norman Oder has done the math on his Atlantic Yards Report:
The value of Madison Square Garden, IBO’s George Sweeting told me in a recent email, is now calculated for tax purposes at $250/sf. So even if doubled to $200/sf, the foregone property tax for the AY arena would be less than $8 million a year--a reasonable ratio if the figure for Madison Square Garden is $11 million.
Ratner would be seeking to fund pay for the bond with about $40 million per year in PILOTs, while his property tax would be only $8 million or less.

That's not commensurate.



Posted: 10.22.08
DDDB.net en español.
Battle for Brooklyn
Screening Schedule

Battle Fore Brooklyn
Unity 4 Community Meeting, June 15th at 388 Atlantic Avenue

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Eminent Domain Case
Goldstein et al v. ESDC
[All case files]

November 24, 2009
Court of Appeals
Ruling

[See ownership map]

EIS Lawsuit

DDDB et al v ESDC et al
Click for a summary of the lawsuit seeking to annul the review and approval the Atlantic Yards project.

Appeal briefs are here.

2/26/09
Appellate Divsion
Rules for ESDC
What would Atlantic Yards Look like?...
Photo Simulations
Before and After views from around the project footprint revealing the massive scale of the proposed luxury apartment and sports complex.

Click for
Screening Schedule
of
Isabel Hill's
"Atlantic Yards" documentary
Brooklyn Matters


Read a review
-----------------------
Atlantic Yards
would be
Instant
Gentrification
Click image to see why:


-No Land Grab.org

-Atlantic Yards Report
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