Markowitz Wants To Join Ratner In China

As long as the city Conflicts of Interest Board gives him the go-ahead, Brooklyn Borough President Marty Markowitz will be accompanying Bruce Ratner to China to lure Atlantic Yards investors with the EB-5 visa program, which supplies investors with Green Cards if they invest $500,000 to $1 million in American projects. The all-expenses-paid trip would be funded by the New York City Regional Center LLC, and if there are no conflicts of interest, it will be the latest in the BPs free trips, including jaunts to Turkey and the Netherlands. But look at the fancy new renderings of the buildings they'll fund!

Markowitz spokeswoman Laura Sinagra told the Daily News, "Part of his role is to encourage investment in Brooklyn, and this program is designed to bring investors to the table for projects that create jobs...he obviously believes this project is worthy of investment, and is seeking guidance from the Conflicts of Interest Board on the possibility of accompanying the group." However, many are questioning whether the project, and looking for investors overseas, will really help create jobs in the city.

Ratner executive MaryAnne Gilmartin says just 100 people have been put to work at the site so far, but Ratner has promised 1,600 jobs a year if the project is completed in 10 years. However, he also said completion in 10 years is pretty improbable. Atlantic Yards critic Daniel Goldstein doesn't believe the investments will even help create jobs.

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By Jaya Saxena in News on October 2, 2010 2:20 PM

Comments [rss]

longacre

Markowitz has no influence on Atlantic Yards and no influence on who the Dept of State gives visas to.

ANGRYGOD11

The EB-5 visa program existed long before the Cold War ended. No Soviet Bloc citizen legally had that kind of money to apply. Most of the applicants were Western Europeans wanting to start another kind of life in the US, not the poor and huddled masses.

Its a visa, not a passport. Visa holders can be legally detained indefinably and deported. US passport holder are US citizens.

Learn the difference, morons.

John L

Markowitz just wants to go on a free trip, can I go too?

More and more it's obvious that this development will only be good for Ratner and his investors. Brooklyn got screwed out of 6,000 units of affordable housing and none of these jerk off politicians are saying anything about it. $2 billion in tax payer subsidies and we'll get a few minimum wage jobs selling beer and peanuts in return and that's what they call "job creation" and "economic growth."

And now Ratner who doesn't even have the money to complete the project has to go sell American green cards to the Chinese in return for $500,000 investments into his money pit.

It's bullshit.