Bailout in Brooklyn?
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In 2005, Bruce Ratner agreed to pay $100 million to build his controversial Atlantic Yards on state-owned land. Under terms of a new deal that was revealed just this week (and goes to a vote tomorrow): Ratner will only have to pay the MTA $20 million upfront, and he'll get to spread out the other $80 million over the next 21 years. Critics of the deal are up in arms about the compromise, per usual, but there's some good news: Forest City Ratner, says it will cough up an extra $200,000 a year to stamp "Barclays Center" to the Atlantic Ave.-Pacific St. subway station. Small miracles! [NYDN]