http://www.brooklynpaper.com/stories/34/32/34_32_editorial.html
August 11, 2011
The Brooklyn Paper
http://www.brooklynpaper.com/stories/34/32/34_32_editorial.html
Editorial: At Brooklyn Bridge Park, the rich get richer
Supporters are wildly hailing a deal between the Bloomberg Administration and state lawmakers representing Brooklyn Heights to generate the maintenance budget for Brooklyn Bridge Park by siphoning off future tax revenue from the sale of buildings owned by the Jehovah’s Witnesses.
We had the opposite reaction.
The deal calls for more than one million square feet of manufacturing land to be rezoned to the far more lucrative residential use. Such a rezoning would raise the value of the land by a factor of at least 10. The city would then use the resulting taxes on the newly valuable properties to fund the $16-million maintenance of the park.
But the new deal is still flawed for several reasons:
Most important, the new funding deal enshrines as city policy the original sin of Brooklyn Bridge Park, namely that the ever-swelling maintenance budget must be generated by the park itself. We have long argued that the park should be treated like any normal city park; that its construction and maintenance should be part of the regular budgetary process, subject to evaluation and debate over where resources should be allocated. By creating a separate funding mechanism, the city has essentially told Brooklyn Heights and DUMBO that they don’t need to worry about their park.
After all, in Bloomberg’s New York, worrying about declining city services is something best done by the poor and less-fortunate — or hadn’t you heard?
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The ‘Watchtower’ deal’s winners and losersAugust 11, 2011
The Brooklyn Paper
The city’s agreement to fund Brooklyn Bridge Park’s annual maintenance with the property taxes on soon-to-be-sold Watchtower properties could be the greatest real-estate swindle of all time or sound public policy. But either way, it’s created plenty of winners and losers:
WINNERS
The Watchtower Bible and Tract Society: The sect also known as the Jehovah’s Witnesses will make a killing when the city rezones its 30-plus properties for residential use.
Brooklyn Heights: The richest neighborhood will have its flashy new park paid for without bearing the burden of any new buildings.
Daniel Squadron: The Brooklyn Heights state senator made good on his main campaign promise to reduce or eliminate housing inside Brooklyn Bridge Park — and won’t likely be blamed if the deal blows up.
LOSERS
Developers: Real-estate magnates were dying to build new luxury high-rises on Pier 6. But if the city plan works, those buildings won’t be needed.
The next mayor: The new administration will be holding the bag if the Watchtower buildings don’t generate as much park money as advertised.
The poor: Millions of dollars in normal property taxes — which fund basic city services such as libraries, cops, firefighters and schools — will be siphoned off from the rezoned Watchtower buildings to pay for a fancy park in an already rich neighborhood.
— Kate Briquelet
Most important, the new funding deal enshrines as city policy the original sin of Brooklyn Bridge Park, namely that the ever-swelling maintenance budget must be generated by the park itself. We have long argued that the park should be treated like any normal city park; that its construction and maintenance should be part of the regular budgetary process, subject to evaluation and debate over where resources should be allocated. By creating a separate funding mechanism, the city has essentially told Brooklyn Heights and DUMBO that they don’t need to worry about their park.
After all, in Bloomberg’s New York, worrying about declining city services is something best done by the poor and less-fortunate — or hadn’t you heard?
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The ‘Watchtower’ deal’s winners and losersAugust 11, 2011
The Brooklyn Paper
The city’s agreement to fund Brooklyn Bridge Park’s annual maintenance with the property taxes on soon-to-be-sold Watchtower properties could be the greatest real-estate swindle of all time or sound public policy. But either way, it’s created plenty of winners and losers:
WINNERS
The Watchtower Bible and Tract Society: The sect also known as the Jehovah’s Witnesses will make a killing when the city rezones its 30-plus properties for residential use.
Brooklyn Heights: The richest neighborhood will have its flashy new park paid for without bearing the burden of any new buildings.
Daniel Squadron: The Brooklyn Heights state senator made good on his main campaign promise to reduce or eliminate housing inside Brooklyn Bridge Park — and won’t likely be blamed if the deal blows up.
LOSERS
Developers: Real-estate magnates were dying to build new luxury high-rises on Pier 6. But if the city plan works, those buildings won’t be needed.
The next mayor: The new administration will be holding the bag if the Watchtower buildings don’t generate as much park money as advertised.
The poor: Millions of dollars in normal property taxes — which fund basic city services such as libraries, cops, firefighters and schools — will be siphoned off from the rezoned Watchtower buildings to pay for a fancy park in an already rich neighborhood.
— Kate Briquelet
