Tuesday, December 19, 2006

Breaking News: Atlantic Yards Vote Delayed Until 2007?

Looks like the growing questions about Atlantic Yards financing and the chorus of voices asking "What's the rush?" have had an impact on Assembly Speaker Sheldon Silver. NY1 is reporting via the Brooklyn Papers that Mr. Silver will not give final approval to the project before January 1st. He controls one of the three deciding votes on the Public Authorities Control Board which is meeting tomorrow and, again, on December 28. (The Brooklyn Papers are also NY1 says Mr. Silver "still has financial questions about Atlantic Yards" and that he is "ready to either vote no or not vote at all if the projects are put before him" at the PACB meeting.

Given the possibility of significant revisions to the project under the Spitzer Administration, the development is sure to cheer some of its opponents. Spitzer supports the project--as does Silver--but both have indicated a desire to have a closer look, which means that even though final approval is likely, the End End Game could alter the proposal, including putting it on something of a diet. Time to dust off those backroom shrinkage plans?

UPDATE: The Real Estate is reporting, based on conversations with the Governor's staff and the Empire State Development Corporation that the decision "is still up in the air, but that Silver is paving the way for postponement." Another source emails to say "Silver may not have decided." Which would seem to leave things exactly as they were early this morning with everyone waiting for definitive word about Mr. Silver's intentions.

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