Perhaps you’ve seen the scathing evaluation of Forest City’s modus operandi reported by the watchdog group Cause of Action. If you happened to miss Part 1, you can read it by clicking HERE. Part 1 demonstrates just how far a corporation can go if you spend your money wisely.
Well, Part 2 is out and it goes on to further reinforce just how taxpayers are “victimized” by FCE’s manipulation of the process. Read Part 2 HERE. Anyone who has followed the saga in New Rochelle knows how bad the deal is for New Rochelle, but Cause of Action really drills down on the numbers and “procedure” used by FCE as they make profit on the backs of the unsuspecting local resident. Veiled with promises of jobs and revenue for the city, as you look at their past performance, you quickly realize there is nothing of value added to our city if Mayor stays in bed with this crew. $5,000.00 just from the Ratner family alone, coupled with over $17,000 from FCE “associates”
This is a must read for anyone who cares about the quality of life in the City they love.
Here’s a few quotes from the report:
” However, once FCE receives public financial support, it often renegotiates or delays implementation of the benefits that it had previously promised. In short, it lobbies, profits, and then bilks the taxpayers by breaching its promise to the community.”
“To date, the Barclay’s Center has been completed, but only 1,900 part time jobs have been created and the affordable housing remains unfinished.” (editor’s note – This is down from a promised 10,000 permanent jobs promised)
“Echo Bay fits the pattern that CoA exposed with FCE’s past projects. Specifically, FCRG scaled back the scope of its original proposal, which offered 150,000 square feet of retail and 600 luxury apartments. Additionally, FCE’s consultants for the project gave $17,000 in campaign contributions to Mayor Noam Bramson, who is a staunch defender of the project.”
FCE promises New Rochelle 59 jobs and is asking for 20 million in tax abatements. You do the math.
Hat’s off to Cause of Action and their due diligence. I thank you, and the residents of New Rochelle who have taken the time to learn the facts thanks you.
Support Cause of Action
Support Citizens for a Better New Rochelle over at Echo Bay Facts by keeping your lawn signs up or contact echobayfacts.com to get one for display.
Support New Rochelle
DO NOT support the recent loser of the County Executive race Noam Bramson
There is a City Council meeting this Tuesday, November 12th to further discuss this debacle. Show up and have your say, it’s Citizens to Be Heard night! They have the topic on the agenda but no particulars as of yet.
The only thing evil needs to survive is for good people to do nothing. Don’t do nothing !
If the city scrapped the Echo
If the city scrapped the Echo Bay project, they could sell the Beechwood Avenue property and use that money to renovate the existing city yard. Cost to the taxpayer–perhaps zero. Furthermore, they wouldn’t have to buy the other businesses and properties adjacent to the Beechwood sight that they are in the process of acquiring. More savings. Finally, they would still continue to collect tax revenue from those business as well as new tax revenue from the Beechwood site. All in all, NOT building Echo Bay is a win for everyone. Except Bramson, of course.
Forest City
Funny, the paid Forest City “volunteers” hawking the project at the New Rochelle train station were making claims of 250 permanent jobs contrary to the 59 documented in the FEIS. They were also failing to tell those they approached that Forest City was receiving a 20 year abatement or that New Rochelle taxpayer would absorb the $30 mn cost of moving the City Yard. TOTS readers if you see these people at the station challenge them with the facts.
http://www.echobayfacts.com