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tel/fax:
718.362.4784
Please note our new postal address when sending
contributions to the legal fund:
121 5th Avenue, PMB #150
Brooklyn, New York 11217
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
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Naming Rights and Wrongs
For Immediate Release: January 17, 2007
Constitutional Rights v. Naming Rights
Ratner Announces Arena Naming Rights Deal
With Barclays Bank
Arena Faces Uncertainty of
Federal Eminent Domain Lawsuit
BROOKLYN, BARCLAYS, BROOKLYN, NY -- The NY Post announced today
that developer Bruce
Ratner has reached a lucrative arena naming rights agreement with London-based
Barclays Bank.
Lost in this highly speculative agreement to brand the publicly funded
arena proposed in Prospect Heights, Brooklyn, is that the construction of "Barclays
Center" depends on the outcome of the federal eminent domain lawsuit filed
in October. The suit claims that the use of eminent domain to clear out homes
to pave the way for the arena is unconstitutional. Currently 12 individuals (homeowners,
tenants and business owners representing 26 residents) are plaintiffs on a federal
lawsuit which says that the seizure of homes by New York State for Bruce Ratner's
"Atlantic Yards" and its arena is unconstitutional.
The arena cannot be built without the taking of those homes.
“Barclays is supporting an abuse of the Constitution. Barclays Bank and Bruce Ratner are grossly jumping the gun since this publicly
funded arena cannot be built without my home. And currently a federal court has
begun reviewing the constitutionality of the taking of my home and the homes of
my neighbors. Of course this lawsuit throws into question the value of these highly
speculative naming rights,” said Develop Don’t Destroy Brooklyn spokesperson Daniel
Goldstein. “'Barclays Center': That almost sounds like Brooklyn Center…but not.
It goes to show that, once again, ‘Atlantic Yards’ has nothing to do with Brooklyn
and everything to do with lucrative deals for Bruce Ratner.”
The public would entirely fund the construction of Bruce Ratner’s Barclays Arena. The arena construction is to be paid for by triple-tax-free bonds (government and the public don't yet know how much that bond debt service is but the last arena construction cost estimate was $637 million). The debt service is to be paid in the form of Payments in Lieu of Taxes (PILOT). So while Ratner does not pay property tax, which would normally go into the city treasury, instead he pays an equivalent payment towards the arena bond. It's as if government allowed you to forego your taxes and use that money to renovate your bathroom AND help pay off your mortgage. But we don't publicly fund bathroom renovations or mortgages.
“This lucrative, yet speculative, naming deal is yet another sweetheart deal for Ratner. The public funds the arena and Ratner makes the profit on the logo slapped on its dome,” concluded Goldstein.
Posted: 1.17.07
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