the Pump at Atlantic Yards?
by Gail Robinson
Does the economic stimulus package President Barack Obama is
signing today include a great big bailout for Atlantic Yards? The idea
of federal stimulation for the problem plagued arena and condo project
surfaced in the Observer last week, prompted by former
Sen. Alfonse D’Amato’s lobbying for the help on behalf of
developer Forest City Ratner.
say the money could come from discretionary funds or money set aside for
transit. And in its final form the bill does not specifically exclude stadiums
(or include them either), throwing out a previous amendment that would have
done just that.
But what about the politics?
Money to Atlantic Yards would come at “the expense of some other projects
in the area, the Observer wrote. “If eligible, the question then becomes
whether or not Bruce Ratner, Al D’Amato, supportive politicians and
groups could push Atlantic Yards toward the top of the stack at the same time
that other politicians are fighting for projects of their own.”
No one should underestimate D’Amato’s clout — the former
GOP senator is often cited as a
mentor to the state’s new Democratic senator, Kirsten Gillbrand —
but idea of the aid seems to have few active supporters aside from (are you
surprised?) Brooklyn Borough President Marty Markowitz. In his State of the
Borough address last week, he
hinted the project qualifies for Washington’s help: “When it
comes to ambitious shovel-ready projects, we say, ‘Build baby build.’
Atlantic Yards? Yes we can, and yes we will.”
In a conference call last week both Gov. David Paterson and Sen. Charles Schumer
dodged a reporter’s question on whether to help Atlantic Yards, the Observer
One politician — new U.S. Rep. Michael McMahon — has
come out firmly against helping Ratner’s megaproject. “I do not see
Atlantic Yards as a priority for the money from this package,” he said.
Many view using stimulus money to help Bruce Ratner as precisely the kind of
waste opponents of the stimulus package railed again.
“Bailing out the Atlantic Yards project with federal stimulus funds would
turn Ratner’s project into the poster child for misuse and abuse of the
recovery bill,” said a
statement by Develop Don’t Destroy, which opposes the project.
“Under the banner of ‘doing nothing is not an option,’ how
many ill-conceived and economically unjustified “infrastructure” projects, whose
consequences will persists for decades to come, will be rushed into construction?”
wondered. “The Atlantic Yards public-private-mega-project in Brooklyn,
even in earlier good economic times, not only raised questions of fairness in
the use of eminent domain, but also of the impact it will have on the texture
and vitality of a local community. … The current developer is now angling
for stimulus money.”
Calling Atlantic Yards “a corrupt real estate land grab,’ Brooklyn
wrote on Daily Kos, “There is a rail yard to nowhere in Brooklyn,
and the possibility of New York becoming the poster child for misuse and abuse
of stimulus funds—pork of the most rancid kind. … The developer wants
to abuse the stimulus bill to get a federal bailout for a private professional
basketball arena already subsidized to the hilt.” (
According to City Room, Atlantic Yards has already received $300 million
in subsidies and tens of millions in tax breaks.)
Looking at Atlantic Yards, Red State
sees a whole new realm of possibilities for Washington’s largesse:
“With hundreds of billions to spend, the federal government might just
buy Los Angeles an NFL team — or help the Nets lure LeBron James to their taxpayer-financed