Land Development in Brooklyn Nick Vincenzo Samra Sahar Sean McHugh Adewale Osinono Michael Lombardo James Lamberti

SEE

Arena Site Map

Atlantic Yards Location

Atlantic Yards Location

Brooklyn After Atlantic Yards

Economic Factors The development of the Atlantic Rail

yards is a multi-BILLION dollar project. The proposal includes $345 million

dollars to renovate The Atlantic Avenue terminal. Also included is $450 million dollars for the arena to house the Nets.

The development will be partly funded by $555 million dollars in tax exempt bonds.

New York City an New York State have pledged $100 million dollars each to aid in the funding for the project.

Benefits

Political Factors This development proposal was a hotly

debated topic that generated media coverage prior to the Mayoral election.

The project was also a controversial point in the Mayoral Race.

Fernando Ferrer has stated “Not a single public dollar should pay for construction of the site”

City Council member Letitia James announced that new legislation would restrict the city’s ability to declare eminent domain.

Cultural Factors The development of the Atlantic rail yard in

Brooklyn would revitalize and reinvigorate a once bustling downtown area.

The construction of a new arena would give Brooklyn its first professional sports franchise since the Dodgers moved to Los Angeles.

The proposal would provide affordable housing as well as office space.

The potential tax revenues produced by the development could amount to billions of dollars over the next 25 years.

Social Factors Currently there are numerous families and

small businesses living and operating in the area of the proposed site. What will happen to them?

There is an enormous amount of money involved in this deal which includes taxpayers money. Are taxpayers going to agree on the allocation of how their money is used?

Is Brooklyn ready for development of this magnitude?

Is the law of eminent domain being followed in an ethical manner?

Eminent Domain

The authority of the government to take private property for public use, with compensation to the owner in return.

JUDGE

The Principle of Double Effect Positives New businesses Revenue for Brooklyn Negatives Increase pollution and traffic Over burden sewer and water lines Gentrification

Gentrification Gentrification is the influx of upper and middle class housing and businesses in a poor area in order to increase property value and drive out the resident poor citizens.

Economic Justices Economy is for the People

Susbsidiarity People in the Society should decide

what they want to with the Atlantic Rail yards

Rights & Responsibility Democratic Participation in

Decision Making is a right and responsibility

http://www.gothamgazette.com/community/35

ACT

West Side Stadium

The West Side

Stadium Location

Madison Square Garden Improve Madison

Square Garden Site For the New

York Knicks and Nets

Already Done in Los Angeles

The End Questions?