New York State Supreme Court today dismissed the lawsuit challenging the public approval process on all counts. 

Bruce Ratner, CEO and Chairman of Forest City Ratner Companies, issued the following statement today regarding the State Supreme Court ruling on a lawsuit brought by opponents of the Atlantic Yards challenging the public approvals of the project.

“We are very pleased with Judge Madden’s decision, as it further clears the way for Atlantic Yards and the thousands of jobs, affordable housing units and world-class arena - the Barclays Center – that will accompany the project,” Mr. Ratner said.  “After an exhaustive three-year review process, we are continuing to move full speed ahead on the project, and today’s decision is a significant step forward.”

Background on Atlantic Yards

Construction on the Site

• Construction work on Atlantic Yards began in February of 2007.  We expect to open the Barclays Center in the 2010 calendar year.
   
• To date, roughly 50% of the structures on the site have been demolished or are in the process of being demolished.  Twenty-five structures have been demolished and an additional 8 buildings, including the former Ward Bread Building, are being demolished or are slated to be demolished in the short term.  There are 11 vacant lots and 28 other remaining buildings.
   
• Over $40 million worth of contracts have already been awarded to contractors for work on the site thus far. 
   
• Minority- and women-owned businesses have received a large percentage of the work.  Construction contracts awarded at Atlantic Yards total approximately $40 million.  The total MBE awards are $15 million or approximately 38% of total purchases.  The total WBE awards are $3.6 million or approximately 9% which brings the total M/WBE participation thus far to $19 million or approximately 47%.
   
• Construction of the Temporary Rail Yard is under construction.  The Carlton Ave bridge over the rail tracks will be closed and rebuilt starting in mid January.  Critical upgrades to the sewer and water infrastructure have begun. 

Legal Update

• The federal eminent domain lawsuit was dismissed in June, 2007.  The opponents have filed an appeal, and the appeal is being handled by the court on an expedited basis.
   
• The Appellate Division of the New York State Supreme Court unanimously dismissed a challenge to the project approvals under Section 207 of the Eminent Domain Procedure Law in November 2007.
   
• A second suit brought in the NY Supreme Court challenging the State’s use of eminent domain was dismissed in May 2007, and the dismissal was affirmed by the Appellate Division in October 2007.