BUILD admits Ratner funding--More from Juan Gonzalez

BUILD admits Ratner funding

by Juan Gonzalez
The NY Daily News. October 18, 2005

A nonprofit group that spearheaded neighborhood support for the huge Atlantic Yards commercial development in Brooklyn has finally admitted it is being bankrolled by Forest City Ratner, the project's developer.

The $3.5 billion Atlantic Yards, which includes a new Nets arena and a raft of office and residential apartment towers, is scheduled to have its first formal public review tonight at an environmental impact hearing before the Empire State Development Corp.

Until last week, the leaders of Brooklyn United for Innovative Local Development - BUILD - had repeatedly denied getting any financing from Ratner.

That story began to unravel, however, after this column reported Sept. 29 that the group filed documents with the IRS early this year in which it reported $5 million in donations from Ratner for 2005 and 2006.

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