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Ratner's Money SATURDAY • JULY 3, 2004 Including Carroll Gardens-Cobble Hill Paper, Downtown News, DUMBO Paper and Fort Greene-Clinton Hill Paper Brooklyn’s REAL newspapers Published every Saturday — online all the time — by Brooklyn Paper Publications Inc, 55 Washington St, Suite 624, Brooklyn NY 11201. Phone 718-834-9350 • www.BrooklynPapers.com • © 2004 Brooklyn Paper Publications • 18 pages • Vol. 27, No. 26 BWN • Saturday, July 3, 2004 • FREE RATNER’S MONEY PIT Study: Arena would cost city $1/2-billion By Deborah Kolben Yards project on our delicate city The Brooklyn Papers and state finances,” the report reads. An economic analysis re- In addition to their independent analysis, Peebles said that he and leased this week blasted de- Kim consulted independent think eloper Bruce Ratner’s Atlantic tanks, professors and non-profits Yards arena and high-rise plan for their study. as a money loser that would Ratner purchased the New Jer- cost the state and city more / Greg Mango / Greg sey Nets this year and, pending ap- than half-a-billion dollars. proval of the NBA, plans to move “Make no mistake, this proj- them to Brooklyn. He has main- ect from Forest City Ratner will tained that the project would use be using taxpayer money, and almost no public money because it loads of it,” said Gustav Peebles, would be financed largely by the of Fort Greene, a Columbia Uni- tax revenue it would generate. versity researcher who co-au- Papers File The Brooklyn But even Zimbalist, in his an- thored the report with Jung Kim, Bruce Ratner alysis, estimated that Atlantic an urban planner. Yards would cost taxpayers at Peebles said he felt compelled ber of Develop–Don’t Destroy $449 million. Pressed by a coun- to undertake the study after a Brooklyn, a group opposed to the cilwoman at a public hearing the Prospect Heights project, Peebles / Greg Mango / Greg sports economist commissioned day the Zimbalist study was re- by Ratner claimed the $2.5 bil- this week charged sports econo- leased in May, Forest City Ratner lion Atlantic Yards project mist Andrew Zimbalist based his Vice President James Stuckey ac- would put $800 million into city Ratner-commissioned Atlantic knowledged that the public’s price and state coffers. Yards report on faulty assumptions tag for Atlantic Yards would be in The Peebles and Kim report and “misleading” figures. the hundreds of millions. The Brooklyn Papers The Brooklyn concludes that the project will “By reanalyzing the data and the A Forest City Ratner spokes- be a net loss to taxpayers — to assumptions, we come to much man declined to comment for this the tune of $506 million. more negative conclusions regard- article. Mermaids on parade An anthropologist who studies ing the impact of the entire 17 high- In addition to the Frank Gehry- Bunny Love (right) hangs with Venus the Fiji Mermaid during the annual costume parade in Coney Island on Sunday. See story on page 5. economic history and is a mem- rise and arena Brooklyn Atlantic See RATNER on page 4 Familiar faces at Nathan’s dog Fireworks shut Heights By Deborah Kolben And to meet those expectations they will close Landing running a close second. The Brooklyn Papers several major neighborhood arteries to both traffic Police are warning anyone planning to travel to and parking. Brooklyn Heights to leave their cars at home as parking Police are expecting Brooklyn Heights and Running above the Brooklyn-Queens Expressway in the neighborhood — which is normally a tough go eating contest Fulton Ferry Landing to be packed with specta- along the East River, between Remsen and Orange — will on July 4 be near impossible as several streets tors angling for a spectacular view of Sunday’s streets, the promenade should offer the best view of are closed to vehicles. Even residents will have to move By Krista Larson Fourth of July fireworks extravaganza. the Macy’s sponsored pyrotechnics, with Fulton their cars from some streets, which will have fliers post- ed, or face relocation by tow truck, police said. Associated Press The streets closed to traffic between the hours Bill “El Wingador” Sim- of roughly 6 pm and some time after crowds have mons traces his competitive dispersed will be: eating abilities way back: — Montague, Remsen and Pierrepont between “As soon as I could walk I Court Street and the promenade. — Furman and Hicks streets between Atlantic Av- ran to the dinner table enue and Old Fulton Street. before my sister got there.” — Columbia Heights, Montague Terrace and Pier- Now the four-time Phila- repont Terrace, between Remsen and Old Fulton delphia “Wing Bowl” cham- streets. pion can add another compet- — Henry Street between Atlantic Avenue and itive eating title to his Cadman Plaza West. resume: New Jersey Turnpike THIS WEEKEND This year, Macy’s department store, which spon- hot dog king. sors the annual event, is expanding the extravaganza Simmons, 42, of Wood- with six barges in three locations. Three barges will be on the East River between Manhattan and Queens, bury Heights, downed 16 hot Mango / Greg dogs in 12 minutes Friday, just south of Roosevelt Island; two will be just south besting 13 other contestants of the Brooklyn Bridge, and a new one will launch in a qualifying contest for the dazzling fireworks shells just off Ellis Island, near the Nathan’s Famous Fourth of Statue of Liberty. July hot dog-eating contest in Mango / Greg The pyrotechnics spectacular will kick off at Coney Island. about 9:20 pm and last about half an hour. His strategy? Eating the Papers File The Brooklyn Fire Department boats will start the show at 7:30 pm with soaring arcs of red, white and blue water. meat two dogs at a time, fol- America’s hope of regaining the hot dog title may rest on the tiny shoul- The Air Force will strut military maneuvers over the lowed by buns dipped in his FDR Drive starting at 8 pm with a fly-over, break- drinking water. Not bad for ders of 100-pound Sonya Thomas, Papers The Brooklyn seen here at last year’s contest. Kate Gormley performs "I Love Rock ‘n’ Roll" backed by Bunnie England and the New ing the sound barrier over the drive. only his second hot dog eat-off. Besides the promenade, prime viewing spots in- “I just have to go home Originals at Magnetic Field. Live Bank Karaoke returns this weekend — Monday at 9 pm. clude the Louis Valentino Pier at the end of Coffey and digest this food, and take a dip in my pool and I’ll be all right,” he said Street in Red Hook, Empire-Fulton Ferry and after the competition held outdoors at a New Jersey Turnpike rest area. Brooklyn Bridge parks in DUMBO and Fulton Fer- Welcome to the world of competitive eating — complete with its own rules ry Landing at the end of Old Fulton Street on the and global governing body, the International Federation of Competitive Eating. So you wanna be a East River. Not to mention rooftops, as the fireworks The IFOCE will sanction more than 70 competitions this year — everything will be viewable to anyone with an unobstructed See HOT DOGS on page 5 view of the East River or harbor. RE-GURGITATORS rock‘n’roll star? No viewing will be allowed from the Manhat- By Ed Beeson bounds” above ordinary karaoke, he says, is the tan, Brooklyn or Williamsburg bridges. for The Brooklyn Papers electricity you feel onstage. It pours from the band In Manhattan, the FDR Drive will be closed for behind you and from the crowd before you pump- spectator viewing from 7 pm to 10 pm, from 14th to Want to be a HBK? Then you need LBK ing fists in the air like so many uncapped pistons. 42nd streets. Pedestrian access to the FDR Drive for Clones’ winning week — Live Band Karaoke — which returns to The back-up band, guitarist Bunnie England viewing will be at 23rd, 38th and 42nd streets only. In Brookyn Heights this Monday night. and the New Originals, advertises a repertoire of downtown Manhattan, the FDR Drive will be closed By Vince DiMiceli This holiday weekend, the Clones will Only that can turn you into a Heartbreak Kid. 39 songs, which spans from early Beatles to The for spectator viewing, from the ferry terminal to the Brooklyn Papers Sports Editor take on the New York-Penn League cham- “It’s the closest you can get, if you’re not in a Ramones to Judas Priest. Pearl Street exit ramp. Entrance will be granted from the Pearl Street ramp only. The FDR Drive will be The first full week of the Brooklyn pion Williamsport Crosscutters in a two- band, to being a rock star,” says William Crane, Now stand up and break some hearts, kid! game set at Keyspan Park. Saturday’s co-owner of Magnetic Field, the Brooklyn Live Band Karaoke will rock Magnetic closed to vehicular traffic from Houston Street to Cyclones’ 2004 campaign was a success- game begins at 6 pm. Sunday will feature Heights bar where LBK debuted last month. Field (97 Atlantic Ave. between Henry 63rd Street. ful one, as the team pushed their record an Independence Day matinee, with a rare Magnetic Field is the first venue to bring LBK to Street and Hicks streets in Brooklyn The largest fireworks display in the country in- to 8-6, good for second place in the Mc- noon start. Brooklyn, he says, although people may recog- Heights) this Monday, July 5, at 9 cludes 36,000 shells shot off from the six barges nize it from Arlene’s Grocery on the Lower East pm.
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