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ESDC Won't Release Key Atlantic Yards Document or Come Clean on Timeline
The public authority (ESDC) won't produce what should be a public document (KPMG's
financial feasibility study) for a supposedly public project (Atlantic Yards).
And senior ESDC counsel Steve Matlin twists himself in knots to explain how Atlantic
Yards could, maybe, might be built in ten years because of some unknown, undetailed
guesswork called "incentives."
Norman Oder reports on a press scrum with Matlin after the ESDC rubberstamped
Atlantic Yards on September 17th, twelve business days ago:
The
ESDC still hasn't shared the KPMG report; on video, lawyer explains how AY "timeline"
may be longer than ten-year "timetable"
...The video begins with ESDC Senior Counsel Steve Matlin explaining to WNYC's
Matthew Schuerman that "We think ten years is a reasonable period."
I and the Daily News's Erin Durkin (whose story never ran) try to follow up,
and ESDC spokesman Warner Johnston tries to keep some order.
"Can you explain, did the KPMG report respond specifically to the Joshua
Kahr report?" I asked. (The Kahr report, submitted by the Council of Brooklyn
Neighborhoods (CBN), argued that the ten-year timetable was unrealistic.)
"The KPMG report was commissioned before we--certainly before I saw the
Kahr report," Matlin said. "We did share it with KPMG. To what extent
they looked at it and--they certainly didn't respond to it directly, but I'm
sure they looked at it."
He gave a verbal shrug: "Different opinions."
"Can we get a copy of that KPMG report?" I asked.
"The KPMG report was provided to the directors on a privileged and confidential
basis and, quite frankly, we're looking at now whether we can release the document,"
Matlin responded. "We may have to redact a portion. There could be some
proprietary information. So we haven't reached that decision, but we're going
to look at it in the next few days."
...
"There is going to be a timeline for Phase 2," Matlin replied. "The
timeline, which people have pointed out, is going to be well beyond ten years,
but there are incentives for the developer to build out the project in a much
more expeditious way. And that's why we think the ten years is doable. What
people are having a problem understanding, which I can understand, is that there's
the timetable that we expect to achieve, we want to achieve, and then there's
a timetable for when remedies kick in. And the reason for that is, notwithstanding
the wishes of ESDC and the wishes of Forest City, it may take longer. And we
recognize that and they recognize that." Still no KPMG report and still no idea what incentives would entice a developer to build on spec and without demand.
Posted: 10.06.09
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