ACORN, the friendly neighborhood community organization, offers more services than tax evasion and prostitution. It's a full service organization, yessiree. It's also involved in eminent domain issues in New York City.
Despite losing federal funding, ACORN still stands to make millions of dollars off its support for Brooklyn’s controversial Atlantic Yards project (1). It is a $4.9 billion NBA arena and residential- and office-tower project put together by Bruce Ratner.
So how does this figure in with eminent domain? Bruce Ratner, the owner of the New Jersey Nets, used eminent domain to get the land for the project. The Nets will move to New York City if he can get the stadium built. The Village of Port Chester started eminent domain proceedings after New York entrepreneur Bart Didden refused to pay $800,000 (or grant a 50 percent stake in his business) to a developer hired by the village (2). You can see the article on the eminent domain abuse here.
So, stick with me. Here's how ACORN ties in, other than getting money from the project. Last year, Ratner helped bail ACORN out of financial trouble last September with a $1 million loan and a $500,000 grant, according to memos (3).
In addition to that cash infusion, they will also be getting millions each year over several years. Neither Ratner nor ACORN will comment but Anita MonCrief, a former ACORN official-turned-whistleblower, estimates the anticipated deal could bring the group $5 million to $10 million annually over multiple years from the public and private sector based on other housing deals ACORN has nationwide (4).
Ratner, by the way, is a huge Democratic donor. He has contributed $219,600 in the last two years to. You can see the numbers here. Look for "Ratner, Bruce C."
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1. Calder, Rich (2009, September 21). "Group can $core on Atl. Yards". New York Post.
Retrieved September 22, 2009, from New York Post
2. Root, Damon W. (2009, June 25). "As Naked an Abuse of Government Power as Could be Imagined". Reason Online.
Retrieved September 22, 2009, from Reason Online
3. Calder, Rich (2009, September 21). "Group can $core on Atl. Yards". New York Post.
Retrieved September 22, 2009, from New York Post
4. Calder, Rich (2009, September 21). "Group can $core on Atl. Yards". New York Post.
Retrieved September 22, 2009, from New York Post
Tuesday, September 22, 2009
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