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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.

More about DDDB...
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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

Scarce Lenders, Underperforming Properties

In Atlantic Yard Report, Norman Oder details the latest Morningstar evaluation of Forest City Enterprises stock value and finds that the analysts have dialed back the odds on an FCE bankruptcy, boosting their assessment of the stock's value.  But the analysts are still cautious, noting that some of FCE's dealings are "opaque in nature, making them difficult to assess."  That, of course, is not exactly a surprise to those who follow Atlantic Yards, although "opaque" is certainly a polite way to say it. 

Morningstar does, however, provide another reminder that borrowing funds just to keep its current operations going will not be easy for FCE--not to mention raising huge amounts for new efforts:
New commercial mortgage-backed securities issuance is nonexistent at this point, meaning Forest City will have to find other means to refinance 17% of its maturities--roughly $577 million. In addition, banks in general are less willing to loan against commercial real estate, as this asset class is poised for at least a year of falling prices and rising defaults.
Morningstar also offers a suggestion: "If Forest City were to hand back a few highly leveraged underperforming properties, its overall debt picture could improve materially..."  It's not quite what they mean, but when one hears "underperforming" it's hard not to think "Nets."  And coincidentally, just yesterday, Newark mayor Cory Booker, a man who actually wants the Nets in his neighborhood, said this on WBGO's show Newark Today:
"Let me tell you exactly what I think is going to happen. I believe the project in Brooklyn is not going to work and not going to go forward. I believe the team's going to be put up for sale. I think there's going to be a national competition for it, because people want the team, from Seattle to New Jersey. I think New Jersey cannot afford to lose the Nets, so we're working double time to make sure that, when that opportunity comes, it's bought by New Jersey investors with the intention of putting the team in Newark."
Sounds like a win-win: and it would probably make those Morningstar analysts happier too.



Posted: 4.24.09
DDDB.net en español.
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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

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