Today Governor Paterson held a "Leaders Briefing on Economic Recovery"
Forest City Ratner is lobbying
for a bailout of Atlantic Yards from the stimulus bill.
But there are two big strikes against this effort that are not in compliance
with the American Recovery and Reinvestment Act:
1. Atlantic Yards is not shovel-ready according to the bill's provisions.
2. Atlantic Yards is a no bid project. The bill does not allow this.
During the "Leaders Briefing on Economic Recovery" Timothy Gilchrist,
head of the Economic Development Recovery Cabinet, laid out in detail the procedures
and qualifications by which stimulus money will be apportioned.
Mr. Gilchrist said that there are statewide requests for infrastructure projects
valued at $14 billion and $4 billion in stimulus funds available for the state.
He said that the"Recovery Cabinet" and State agencies had identified
over 1,900 projects in early January valued over $11 billion. Since that time
an "equal number of projects had been identified" by agencies and
municipalities valued around $3 billion, including about 200 projects "in
the last few days."
Some will be eligible, he said, and some won't.
Is Atlantic Yards on that list? So far, it does not appear to be, but the lobbying
must be intense.
Governor Paterson said that the federal government is looking to "get the
best projects moving quickly."
New York State's "Guide to the 2009 American Recovery and Reinvestment
Act", is now online at:
Every dime spent is supposed to eventually be accounted for by the federal
government at: www.recovery.gov