Friday, March 05, 2010

More confirmation that the BALDC is pretty much an ESDC alter ego

The Atlantic Yards master closing documents first made available on January 25 provide further evidence that the Brooklyn Arena Local Development Corporation (BALDC) is little more than an alter ego of the Empire State Development Corporation (ESDC), even though it is officially a "creation" of the Job Development Authority (JDA), another ESDC alter ego.

A Payment-in-Lieu-of-Tax (PILOT) Agreement signed by the Brooklyn Events Center (an affiliate of Forest City Ratner), the New York State Urban Development Corporation (aka ESDC), the City of New York, and the BALDC lists contact people for each party.

Meet Mr. Matlin

For the ESDC and the BALDC, the contact person is the same: ESDC Senior Counsel Steve Matlin, the agency's point man on Atlantic Yards. (Click on graphic to enlarge.)

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