As he tries to market nearly $700 million in bonds for the construction of Barclays Center, Bruce Ratner has received a $55 million tax credit from the US Treasury to help the struggling project. The credit was announced Friday but federal and state officials didn't specifically say how it would be used other than to help financing. Critics complain the program was intended for low-income communities, not arenas.
- Forest City gets $55M in federal tax credits for AY bonds; projects must be in "low-income communities," so how could arena project qualify? - Norman Oder - Atlantic Yards Report