Wednesday, November 18, 2009

ESDC subsidiary to approve arena bonds on November 24

The Empire State Development Corporation (ESDC) subsidiary Brooklyn Arena Development Corporation (BALDC) will meet on Tuesday, November 24, and authorize arena bonds. (It will also take "related actions," which will be worth a look.)

Either the ESDC knows that a favorable decision on the Atlantic Yards eminent domain case will come down by Tuesday, or the ESDC, and bond rating agencies, have taken steps to put whatever bonds are sold in escrow while the case is still pending. Or maybe the bonds will be authorized but not sold until the case is resolved.

The announcement

*** MEETING ADVISORY and PUBLIC NOTICE ***

What: Meeting of the Directors of the Brooklyn Arena Local Development Corporation, a local development corporation created under State Law.

Purpose: Authorization to Issue Bonds and Take Related Actions with Respect to the Atlantic Yards Land Use Improvement and Civic Project.

When: Tuesday, November 24th, 2009 at 10:00 a.m.

Where: The Offices of the Empire State Development Corporation, 633 Third Avenue - 37th Floor Conference Room

The meeting is open to the public for observation only.

Web casting of meeting is available at www.nylovesbiz.com

Note: Due to 633 Third Avenue building procedures, media please RSVP by 5:00 p.m. on Monday, November 23, 2009 to: (212) 803-3740; public please RSVP to (212) 803-3795.

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