MTA Finance Committee Hastily Approves New Payment Plan for Ratner

  ATLANTIC YARDS  
  BROOKLYN COMMUNITY DISTRICT 02     BROOKLYN COMMUNITY DISTRICT 06  
  BROOKLYN COMMUNITY DISTRICT 08  
June 22, 2009
The New York Times

Though the Metropolitan Transportation Authority’s (MTA) finance committee did approve a redesign of the terms of developer Forest City Ratner’s payments for Vanderbilt Yards, some members are arguing that the new plan was sprung on them and the decision was made too hastily. The Chief Financial Officer of the committee has said that finding another bidder for the Vanderbilt Rail Yards other than Ratner would be too costly to pursue.