Ratner Will Pay Slower, Do Less


The MTA offered a new deal to Atlantic Yards developer Bruce Ratner yesterday that allows him to pay $100 million over the next 21 years, instead of up front. Ratner will also be building a smaller rail yard than originally envisioned. While some critics of the project are clamoring for the MTA to reopen bidding, the city seems to have become resigned, at this point, to getting whatever they can out of Ratner. “Would you really suggest that we start this process, that’s gone on for almost a decade, all over again?” Mayor Bloomberg said. [NYDN]

Earlier: Smith: Ratner Close to Railroading MTA on Atlantic Yards