Weekly Digest #14: Waiting for the Atlantic Yards CDC
Is just a bureaucratic update coming? Also, questionable timing for a Barclays Center announcement.
This digest offers a way for people to keep up with my Atlantic Yards/Pacific Park Report blog, as well as my other coverage in this newsletter.
Last week, I wrote that the timing of a belatedly announced meeting of the (purportedly) advisory Atlantic Yards Community Development Corporation (AY CDC) was suspect, and wondered if the body would be asked to endorse some pending change in the project.
Well, the meeting scheduled for last Wednesday was postponed, at the last minute, for no apparent reason. (Quorum issue? Last-minute negotiation?)
When the Agenda and Board Materials were finally released, with no particular clues about the project’s future, perhaps the simplest explanation surfaced: the main driver of the meeting may be to approve the AY CDC’s budget before the fiscal year begins April 1. We’ll see, soon enough.
Still, it was interesting to learn, from the minutes to the previous meeting, that former Greenland USA point man Scott Solish, now working for The Brodsky Organization, was present.
Greenland is currently the master developer, but the project is stalled, with six railyard development sites facing a foreclosure auction.
Brodsky might be interested in a piece (all?) of the remaining project, at least if the price is right, and public concessions are negotiable. Stay tuned.
From: Learning from Atlantic Yards/Pacific Park (Substack)
March 18: Would Tainted Funds from a New Part-Owner Spoil the Brooklyn Nets' Spirit? Well, as one commenter suggested, “what is the spirit of the Nets, other than making lots and lots of money?”
As I argue, the #sportswashing began long ago. But it would be ironic for the libertarian Koch family to profit from eminent domain, sports subsidies, and NBA "socialism."
For example, Koch money has long supported the libertarian Cato Institute, which produced the above report.
From: Atlantic Yards/Pacific Park Report
March 19: With questionable timing, as the Brooklyn Nets continue to tank, BSE Global reveals plan to swap 30 suites for freer-flowing club spaces at the Barclays Center, one inspired by (?!?) historic brownstones.
March 20: At last minute, advisory Atlantic Yards Community Development Corp. meeting postponed until Tuesday. Mundane quorum issue, or something larger?
March 21: Center for a NYC Future: Why not add $1 surcharge on venue tickets to help fund city parks? (That's a lot less than Ticketmaster fees at events at Barclays and elsewhere.)
March 22: Agenda for Atlantic Yards CDC vague: updates & follow-ups. Is the meeting Tuesday mainly to approve the annual budget? (That budget's questionable, by the way.)
March 23: Foregone property taxes on Barclays Center site now estimated at $110.2M. Payments in lieu of (some) taxes go not to NYC but pay off cheap construction debt. Yes, other venues have similar deals.
