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December 20, 2010

Ratner's green card funding scheme explained (in brief, and in briefer)

If you were wondering what was up with that plan to trade green cards for Atlantic Yards arena development loans, Atlantic Yards Report just finished a 16-part series (no, seriously) on all the ins and outs of the proposed deal. And if you can't be bothered to read a 16-part series, AYR today sums it all up in a 2,400-word FAQ.

And if you can't even be bothered with a FAQ, there's my still-shorter "We read Atlantic Yards Report so you don't have to" summary for the Village Voice news blog.

And if even clicking through to one other article is too much to bear, here's the Twitter-friendly version: Ratner's green-card fundraising scheme could screw immigrants, delay promised housing.

Tune in next week, when I communicate complex economic development policies entirely via grunts and hand gestures.


There's a general public interest at issue, involving the integrity of a program that's supposed to trade green cards for investments that actually create jobs.

If this passes muster, what's to stop any developer from refinancing on the cheap and claiming job creation?

In other words: Ratner's green-card fundraising scheme could screw public and immigrants, delay promised housing.

Posted by Norman Oder on December 20, 2010 01:21 PM

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