Monday, August 11, 2008

Feds Closing In On Forest City?

From NoLandGrab:

Forest City in the News

The Cleveland Free Times, Is It Miller Time?

The Feds Are Examining A County Deal Involving Forest City

When FBI agents swooped into the county administration building last week, one of their top priorities was to confiscate documents related to the ongoing Juvenile Justice Center construction project, according to the search warrant. Details of the deals that led to the placement of the new juvie jail and courthouse, at East 93rd and Quincy, are full of political favors and opportunism, but no one has benefited more than Sam Miller and Forest City.
Soil tests [at the site] revealed high concentrations of a chemical called Aroclor 1260, a substance known to cause miscarriages and brain damage in children (both of which had been on the rise in the area, residents contended). Mayor Mike White called the site "the worst environmental hazard in the city."
In 1999, Sunrise Land Company, a little-used subsidiary of Forest City Enterprises, bought most of the parcels at 93rd and Quincy for $383,571 at public auction.
Shortly after Forest City's purchase, White suggested that the county build the new juvenile courthouse on the property, even though it was not one of the sites recommended by a search committee and even though the PCBs had still not been cleaned up.

In early 2000, then-county commissioners Timothy McCormack, Jane Campbell and Jimmy Dimora approved the purchase of the land from Forest City for $2.75 million. Strangely, one of the parcels that the county agreed to purchase from Forest City on February 29 was not actually purchased by Forest City until the next day. And the deal was contingent on an environmental cleanup, which apparently never happened.

NoLandGrab: With a federal probe into Forest City Ratner's Ridge Hill deal in Yonkers, that makes two federal investigations into Forest City deals that have been in the news in recent months.


Many have speculated there's much more to Forest City's influence in Albany than a few lunches and $2000.00 campaign contributions...and it seems the Feds are looking into the matter... this alone should give Albany reason to halt Atlantic Yards...but in spite of this, and the massive revenue shortfalls the state is suffering, the city and state are STILL committing hundreds of millions to Bruce Ratner..why?...Perhaps a third Federal investigation is warranted.

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