Two weeks ago, city officials--including Atlantic Yards booster Mayor Mike Bloomberg--were outraged about a tax abatement bill that would have given Bruce Ratner nearly $300 million in property tax abatements. The abatements were in return for something Ratner had already promised: lower income housing units. Now, however, a political compromise has been reached and Ratner will receive about $200 million. In return, he has to commit to certain schedules for the housing.
- City oks new Ratner deal - Rich Calder - New York Post
- Housing Options Added to Development Tax Bill - Eliot Brown - New York Sun
- Bill Aims to Spur Housing for New York's Poor - Janny Scott - New York Times
- Mayor delivers for Ratner - Ariella Cohen - Brooklyn Paper