mulberry outlet mulberry sale mulberry sale mulberry outlet uk Cheap True Religion Jeans
  • cheap sneakers
  • Discount New Balance 574 mens
  • Cheap Adidas Running Shoes Online
  • Cheap Adidas Originals Superstar Womens
  • Cheap Asics Running Shoes Women
  • Cheap New Balance 990 Shoes Womens
  • True Religion Mens Jeans For Cheap
  • Asics Gel Lyte Sale UK
  • New Balance Outlet UK
  • True Religion T-Shirts Sale
  • True Religion Hoodie Sale
  • Cheap Asics Shoes UK
  • Asics Gel Lyte iii Sale
  • New Balance Outlet UK
  • Cheap New Balance Shoes For Men
  • Discount Jeremy Scott Adidas Shoes
  • Cheap Adidas Basketball Shoes
  • asics gel lyte iii sale cheap asics sneakers cheap asics sneakers mens asics sneakers on sale adidas stan smith women sale cheap new balance shoes new balance 574 mens&womens cheap vans shoes for sale online vans boat shoes black and white vans boat shoes mens vans shoes sale puma running shoes women cheap puma womens shoes cheap puma shoes mens adidas trainers sale cheap adidas basketball shoes asics shoes sale cheap asics shoes for womens asics running shoes men cheap birkenstocks for sale birkenstock sandals sale salomon running shoes sale timberland boots sale
  • Asics Gel Lyte 3
  • Billiga Asics Sneakers Sweden
  • nike free run 3.0 dam
  • Billiga Nike Free Run Dam Rea
  • Nike Air Max 90 Essential
  • Billiga Nike Air Max Rea
  • Nike Air Max Rea
  • Sun, May 27, 2018: Develop-- don't destroy.
    DOWNLOAD: IBO Report [pdf]
    For Immediate Release: September 6, 2005

    Sweet Deal for Ratner, Raw Deal for Taxpayers
    In Incomplete Analysis, Independent Budget Office
    Projects Meager Return for the Taxpayer on Ratner Arena

    NEW YORK, NY�Today the City's Independent Budget Office (IBO) released an analysis of Forest City Ratner's (FCR) proposed 8-million square foot mixed-use development in Prospect Heights, Brooklyn. The IBO projects a meager return on taxpayer investment�a return of less than $1 million per year for New York City. The IBO report only analyzes the proposed Nets' arena but fails to analyze the bulk of FCR's proposal�7.2 million square feet of approximately 7,300, mostly luxury, residential units. In their analysis the IBO fails to consider numerous public costs and economic impacts such as traffic, pollution, rezoning, security, police, fire, sanitation, and schools. The report also overestimates some key revenue streams.

    FCR's commissioned economic analysis, by Dr. Andrew Zimbalist, wildly exaggerates the projected benefits from the arena to the taxpayer. Zimbalist, who the Mayor, Governor and other elected officials have relied on for the project's economic benefit projections, predicted a surplus for the city and state that is four times that projected by the IBO.

    The public also does not know what the estimated profit is for Ratner. FCR's profit estimate, or pro forma, was part of their proposal document submitted to the MTA. But the FCR profit estimate has not been released to the public by the MTA.

    "Ratner's projected profits for the city and state are exponentially greater than any independent study has shown, and Ratner has hidden his own projected corporate profits. How sweet a deal is Ratner getting and how raw a deal is the public getting? Very sweet and very raw," said Develop Don't Destroy Brooklyn spokesman Daniel Goldstein. "Less than $1 million a year is an unacceptably small return on a huge public investment. It is incumbent upon the MTA to publicly release Ratner's projected profits, as they did for his competitor, Extell. We need to know what kind of profit Ratner will make on his project, because the IBO report shows that the public will barely get a return on its investment."

    The MTA reaches its self-imposed 45-day exclusive Atlantic Yards negotiation deadline with FCR this Saturday, September 10th.

    Goldstein concluded, "How can the MTA reach an agreement with FCR before they have publicly announced Ratner's profit projections? The IBO report shows that there is nothing unique about the Ratner proposal that would justify what has effectively been a closed bidding process by the MTA."

    Please donate Sign up for alerts Pass it on Volunteer Contact us