At the August 23 public hearing on the Draft Environmental Impact Statement for the Atlantic Yards project, we heard rhapsodic praise for the Community Benefits Agreement (CBA) that developer Forest City Ratner signed with eight community groups, only a few of which had any track record in the areas which they must contribute. The CBA includes affordable housing pledges and a 35% minority hiring goal in construction jobs--approximately 525 people a year for ten years--among its main features. It also has led to payments to some if not all of the signatories--a departure from the CBA template pioneered in Los Angeles, where signatories agree not to accept money from a developer. But we didn't hear much about what's happened since the CBA was signed on 6/27/05. Yes, Forest City Ratner has helped fund signatories to the CBA and has supported a training session for minority contractors, co-sponsored by the New York Association of Minority Contractors, a CBA signatory. The CBA...
This watchdog blog, by journalist Norman Oder, concerns the $6B project to build the Barclays Center arena & 15-16 towers at a crucial site in Brooklyn. Dubbed Atlantic Yards by developer Forest City Ratner in 2003, it was rebranded Pacific Park Brooklyn in 2014 after the Chinese government-owned Greenland USA bought a 70% stake going forward. In 2018, once the arena & four towers were built, Greenland bought out most of Forest City's stake, then sold three leases to other companies.