Willets housing vow lost to city’s legal fears
As reported by the Times Ledger:
Developers of the $3 million Willets Point project are not contractually required to build affordable housing in part because the city wants to shield itself from a potential lawsuit.
The Bloomberg administration did not want to risk paying out legal damages to the developers — Related Cos. and Sterling Equities, the real estate arm of the New York Mets — should the city fail to build additional ramps off the Van Wyck Expressway, an essential precursor to constructing the housing component of the project, officials and the companies said at a recent meeting.
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Thursday, June 6, 2013 - 00:00