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City Hall Threatens to Pull $100M in Ratner Subsidies

For the first time since Bruce Ratner proposed a new arena and mini-city in downtown Brooklyn, New York City officials are threatening to pull their support. More importantly, they are threatening to pull $100 million in subsidies to improve infrastructure around the Atlantic Yards project. At issue: Ratner's successful lobbying for a bill that provides him with more than $300 million in property tax abatements. The bill could threaten other housing in the city's outer boroughs, city officials believe.