Thursday, April 03, 2008

Eagle maintains fiction that AY has tax-exempt housing bonds

From Henrik Krogius's Review and Comment published yesterday in the Brooklyn Eagle:
Obviously Bruce Ratner can’t be happy about the current economy, but he knows from his long effort to get Metrotech built that a major project faces obstacles and takes time. He still has the benefit of the state having agreed to allocate tax-exempt housing funds for Atlantic Yards. And this is a far more imaginative and varied project than Metrotech; one can only hope its promise will not be totally frittered away by economically determined reductions and compromises.


Actually, the state hasn't agreed to allocate tax-exempt bonds at all; Krogius is repeating an error made by a colleague.

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