Every case is different, and lawyers for Develop Don't Destroy Brooklyn think they have a strong argument for appealing the unanimous rejection of the Atlantic Yards eminent domain case to the Court of Appeals, the state's highest court.
But the New York Law Journal suggests that chances are low:
Last year, 152 notices of appeal were filed in New York, according to a Court of Appeals spokesman. Of those, 70 were subjected to preliminary inquiries and of those 70, all but 10 were dismissed. The average length of time from a notice of appeal until oral arguments was seven months.
That means if the case does gets accepted, the delay could throw a monkey wrench into plans to have tax-exempt bonds issued by the end of the year.
Then again, I've been told, there are ways to have bonds issued but to put a hold on the process, thus raising costs for the borrower somewhat but not removing the substantial advantage--at least $150 million on the arena--such tax-exempt bonds would offer.
But the New York Law Journal suggests that chances are low:
Last year, 152 notices of appeal were filed in New York, according to a Court of Appeals spokesman. Of those, 70 were subjected to preliminary inquiries and of those 70, all but 10 were dismissed. The average length of time from a notice of appeal until oral arguments was seven months.
That means if the case does gets accepted, the delay could throw a monkey wrench into plans to have tax-exempt bonds issued by the end of the year.
Then again, I've been told, there are ways to have bonds issued but to put a hold on the process, thus raising costs for the borrower somewhat but not removing the substantial advantage--at least $150 million on the arena--such tax-exempt bonds would offer.
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