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Our longer Scarano nightmare may finally be over.
\x0aThe Times reports on the depressingly routine pillaging of the BPCA fund without bothering to note the ‘innovative’ plan of Bloomberg to use the surplus to fund low-income housing was actually just the two decade late implementation of the original agreement.
\x0aAntonio Pagan, probably best known for the antipathy he generated in his district among housing advoates, died at 50.
\x0aAn architecture tabloid? Really Eva? Sigh. Who made you do that?
\x0aThe important thing to remember about the potential default of Stuy Town is that three years ago it was a completely paid for, tidily, but not extraordinarily profitable enterprise for previous owner MetLife. Debt-free, positive cash-flow, in the best rental market in the US. Now it’s US$5BN in the hole, and not generating enough cash flow to make the interest servicing. There’s your economic meltdown in a nutshell.
\x0aGood to see the destruction of culture continues apace even when the specter of overdevelopment no longer looms: the Ohio Theater will no longer be in the heart of it all.
\x0aRelative bailouts and civic quality of life update: Paterson recommends complete defunding of all zoos, aquariums and gardens (maybe the Bronx Zoo should rename itself ‘Yankee Zoo’) — watch the vid the Times won’t link to here — while Henry Blodget opines that 75% of the $20 billion just given to BAC is for bonuses.
\x0aNine Days in January: Prime resys available 2/3rds of the time at A-list haunts.
\x0aThe East Village of my youth, like tears in rain: Around the Clock rumored to close entirely.
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