The MTA is ready to let Bruce Ratner pay $20 million now and defer payments on the remaining $80 million he owes on the railyards beneath the Nets new arena. Payments will be stretched out over 22 years. Also Monday, the Empire State Development Corp., Ratner's partner, told the Court of Appeals that critics are "putting the future of the...project in jeopardy". The ESDC asked their appeal be dismissed or expedited.
- Letter of Appeal - Philip Karmel - Bryan Cave on Behalf of ESDC
- ESDC claims AY will take just ten years (though Phase 2 and new railyard fuzzy); Brennan, Montgomery express dismay - Norman Oder - Atlantic Yards Report
- New Brooklyn arena deal unveiled - Karen Matthews - AP
- So here’s the deal: Ratner to get huge break from MTA - Mike McLaughlin - Brooklyn Paper
- Developer Seeks to Defer Payments on Atlantic Yards Site - Michael Grynbaum - New York Times
- NY MTA may ease developer's Atlantic Yards terms - Joan Gralla - Reuters
- Ratner To Pay $180 M. Less Upfront For Atlantic Yards - Eliot Brown - New York Observer
- MTA deal revealed: $20M down, 22 years to pay the rest; smaller yard may save FCR $100 million; some skeptical about rush - Norman Oder - Atlantic Yards Report
- MTA lets Atlantic Yards developer Bruce Ratner go on the installment plan - Erin Durkin - New York Daily News
- Nets' new arena clears a hurdle - John Brennan - The Record