A freelance journalist has uncovered documents that highlight major government financial backing for Forest City's Enterprises' proposed Brooklyn redevelopment project, which has largely been promoted as a privately funded development.
"Documents from lawsuits and elsewhere, uncovered and analyzed by journalist Norman Oder, reveal that including a Ratner request for at least $1.4 billion in tax-exempt housing bonds, at least $637 million in tax-exempt arena bonds, at least $205 million direct cash subsidy from New York City and $100 million direct cash subsidy from New York State, at least $2.34 billion of the $4 billion project has government backing."
"The trouble with Forest City Ratner's extraordinary $1.4 billion housing bond request to New York City's Housing Development Corporation (HDC), is that New York City is facing an enormous deficit in the tax-exempt bonding the developer is seeking. The impact this deficit will have on "affordable" housing development in New York City and in the Atlantic Yards project could be devastating."
"Former City Planning Commissioner Ron Shiffman said, "Forest City Ratner's project, with already inflated construction costs, would suck up and take away so much funding from other affordable housing projects in New York City. "
Thanks to Bruce Rosen
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
San Francisco's School District Spent $105M To Build Affordable Housing for Teachers — And That's Just the Beginning
SFUSD joins a growing list of school districts using their land holdings to address housing affordability challenges faced by their own employees.
The Tiny, Adorable $7,000 Car Turning Japan Onto EVs
The single seat Mibot charges from a regular plug as quickly as an iPad, and is about half the price of an average EV.
Austin's First Single Stair Apartment Building is Officially Underway
Eliminating the requirement for two staircases in multi-story residential buildings lets developers use smaller lots and more flexible designs to create denser housing.
Atlanta Bus System Redesign Will Nearly Triple Access
MARTA's Next Gen Bus Network will retool over 100 bus routes, expand frequent service.
Toronto Condo Sales Drop 75%
In two of Canada’s most expensive cities, more condos were built than ever — and sales are plummeting.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Smith Gee Studio
City of Charlotte
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
US High Speed Rail Association
City of Camden Redevelopment Agency
Municipality of Princeton (NJ)