Wednesday, September 29, 2010

While Ratner wants to use Chinese millionaires' money for railyard and land loan, in China, program portrayed as a piece of Nets/arena

(Also see coverage of Marty Markowitz's plans to go to China.)

There's something very, very strange about the way the New York City Regional Center, the private company authorized to sign up green card-seeking investors, is marketing the Atlantic Yards project in China.

While developer Bruce Ratner told the Wall Street Journal that the $249 million sought from perhaps 498 foreign investors would be used to build a permanent railyard and perhaps pay off the company's refinanced land loan, in China, the investment is being portrayed as strongly connected to the Nets and the Barclays Center.

Another oddity: a graphic below regarding the investment adds $249 million in EB-5 investment funding to city, state, and public/private bond funding, for a total of $1.448 billion, a project figure not previously presented.

(Here's a translation.)

Above, a blogger's web site shows a Nets ball and a water bottle with a Nets and the logo of the NYCRC, the New York City Regional Center, a private company authorized to market investments to immigrant investors in exchange for green cards.

Nets stars at top

On the web site set up by Kunpeng International Business Consulting, authorized agent for the NYCRC, Nets stars Brook Lopez and Devin Harris are at the top.

The screen shots below include most of the web site. Click to enlarge.


Various dignitaries are shown at the groundbreaking in March.


Note that the graphic below, in English, sets up a total of $511 million in state bond financing, $457 million in FCE/partners' bonds, $131 million in city funding, $100 million in state funding, and $249 million in EB-5 investment funding, for a total of $1.448 billion, a project figure not previously presented.


The web site offers information on the project and arena.

The web site offers information on the developer.
Below are some Forest City projects.


Marty Markowitz, other city/state leaders, other investors, and some immigration lawyers are also involved. (Markowitz may join Ratner on tour in China.)


The certificates below? Perhaps they refer to the visa program.


Another reference

The project is also referenced on this web site.



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