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Stimulus Money for City Point?

Media last updated October 13, 2009

Press Source

  • The New York Times

Press Date

  • September 15, 2009

Press Link

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City Point Tax-Exempt Bond Financing

Testimony last updated September 10, 2009

Testimony to the New York City Capital Resource Corporation
on $20 million stimulus bond financing for City Point retail complex

September 10, 2009

New York City is fortunate to be receiving tax-exempt bond financing under the American Recovery and Reinvestment Act for the vital purpose of restarting stalled development projects. The issue is whether the City is driving a hard enough bargain and sufficiently advancing public objectives given its investment in providing this source of financing. In choosing Albee Development LLC to be a recipient of the bonds’ benefits, however, the New York City Capital Resource Corporation and other public authorities involved with City Point must recognize the need to make this project work as part of a vibrant and diverse mix of retailers in a shopping district that hundreds of thousands of Brooklyn residents depend on. In exchange for taxpayers’ support to make this project possible, the Capital Resource Corporation must make sure that Fulton Street continues to be a place where independent retailers can thrive.

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Downtown Brooklyn's Fulton Mall

Project last updated April 29, 2009

Fulton Mall

Fulton Mall: New Strategies for Preservation and Planning

Amidst the city's broad redevelopment plan for downtown Brooklyn, Fulton Mall: New Strategies for Preservation and Planning seeks to offer ideas for securing the future of Fulton Mall as a vital public place.

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Neighborhood Retail

Project posted April 6, 2009

Policies and Planning in Support of Local Businesses

The Pratt Center is working with community partners on new neighborhood-based and citywide strategies to strengthen neighborhood retail as a strategy for community economic development in a worsening economy. 

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Downtown Brooklyn's Albee Square Mall

Testimony last updated December 8, 2008

Statement on the Proposed Financing of Albee Square Residential Development
Presented to the New York City Housing Development Corporation

Brad Lander & Paula Crespo
Pratt Center for Community Development
December 8, 2008

Thank you for the opportunity to present this statement regarding the proposed tax-exempt financing of the Albee Square residential development, proposed by Albee Residential Development LLC. We are long-time supporters of the New York City Housing Development Corporation. We appreciate your long-time practicing of prioritizing all-affordable, or mostly affordable, housing developments over 80/20 projects with scarce tax-exempt bonds. We have a number of concerns about the proposed financing, especially the extremely high, $1.9 million worth of tax-exempt bonds per low-income unit. This number is many times what we have seen you approve for past projects. We urge you to proceed with great caution, and not to approve this deal in its current form. In particular, we ask HDC:

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Pratt Center eNews - Summer 2008

Enews last updated September 4, 2008

In this Issue:

  • A Message from Pratt Center Sustainability and Environmental Justice Director Joan Byron
  • Mapping New York's Dwindling Manufacturing Land
  • Promoting Public Plazas
  • Downtown Brooklyn Report Supports Affordable Housing Advocacy
  • Energy Matters Launches
  • Seeking Policies to Support Independent Businesses
  • Meet Pratt Center's Summer Interns
  • Contribute

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Downtown Brooklyn's Detour: The Unanticipated Impacts of Rezoning and Development on Residents and Businesses

Report last updated July 16, 2008

This report highlights the differences between the foreseen impacts declared by the city during its review of the Downtown Brooklyn Plan and the impacts now being felt by many people who have been living and doing business in Downtown Brooklyn. It compares the impacts of the rezoning as they were outlined in the plan's Final Environmental Impact Statement with how the area is now being developed.

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Pratt Center eNews - Fall 2007

Enews last updated November 1, 2007

In this Issue:

  • What Banh Mi and Child Care Have in Common
  • Elena Conte: Community Action and Citywide Change
  • Downtown Brooklyn Reassessed
  • Campus Connection: A Sustainable Pratt Institute
  • Preservation and Planning: The Next Generation
  • Cypress Hills Breaks Ground
  • Redefining ReDefining Economic Development
  • Change a Light, Change the World
  • Save the Date: Pratt Center Gala, February 26, 2008

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Albee Square Mall

Testimony last updated May 24, 2007

Testimony on the Amendment of the Lease of Albee Square Mall in Downtown Brooklyn

Pratt Center for Community Development
Mercedes Narciso
May 24, 2007

Thank you for this opportunity to provide testimony today. My name is Mercedes Narciso and I am a Senior Planner with the Pratt Center for Community Development, a university- based organization that works for a more just, equitable, and sustainable city for all New Yorkers by helping communities to plan for and realize their future.

The Albee Square Mall sits on a large City-owned site in the heart of downtown Brooklyn. Any action the City takes to catalyze the redevelopment of this publicly owned property should be carefully structured to maximize the benefits of the development for Brooklynites and the City as a whole. The current redevelopment plan does nothing of the kind, and we urge you to reject the amendments to the lease of this property that would make the redevelopment plan possible.

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Tower wants free money

Media posted April 20, 2009

Press Source

  • Brooklyn Paper

Press Date

  • December 11, 2008

Press Link

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