Monday, March 25, 2013
23 acres of prime real estate for $1!
Once upon a time, there was a billionaire that took control of a city. Everyone did whatever he wanted and did not challenge him. He used lots and lots of taxpayer money to buy up land across the street from a stadium run by his fellow billionaire buddies. Then he sold it to them for $1. He also gave them $100M in taxpayer-funded city grants to build a mall. Even though one of his deputy mayors promised that the stadium owner would pay for the total cost of remediation of the land - that, if truly contaminated, hurts no one because no one lives there (save for a man that lived more than 80 years of his life there) - he put a cap on how much remediation cost the stadium owner would be required to pay at a fraction of the expected total.
Now lots of people work there, so to help his minions in the legislative body save face, the billionaire made his buddies promise to build affordable housing. But, the affordable housing has to wait for highway ramps to be built by the taxpayers more than a decade from now, even though the stadium owners can build them themselves in a shorter timeframe. Oh, but the wording of the contract was changed to make sure they don't really have to build housing at all...
Then there's the free parkland they're going to build their mall on.
To make a long story short, after crying over Madoff, the Wilpons are now laughing all the way to the bank at our expense.
How do I know all this? It's in this week's Queens Chronicle. I suggest you read Joe Orovic's excellent expose and then call up your elected officials and ask them if they think the "fool me twice" saying applies here.