Brooklyn shares in $3.5b Ratner project.To ensure the inclusion of affordable housing and minority and women owned businesses in Forest City Ratners' $3.5 billion Atlantic Yards The Atlantic Yards is a mixed-use commercial and residential development project of 16 buildings, currently proposed in the neighborhoods of Prospect Heights and Park Slope, adjacent to Downtown Brooklyn and Fort Greene in Brooklyn, New York City. development plan, the city and Bruce Ratner Bruce Ratner (born January 23, 1945 in Cleveland, Ohio) is president and CEO of Forest City Ratner, the New York division of Forest City Enterprises, which is based in Cleveland. Ratner was New York City's most active real estate developer during the 1990s. this week signed a Community Benefits Agreement.
Ratner has agreed to sign a legally binding document that contains specific project benefits related to housing, jobs, small business programs, community amenities, environmental assurances and arena usage.
Joining the mayor and Ratner at a signing ceremony A signing ceremony is a ceremony in which a bill passed by a legislature is signed (approved) by an executive, thus becoming a law.
Modern-day signing ceremonies are derived from ceremonies that occurred when the British monarch gave Royal Assent to acts of Parliament. were officials and executives from the community based organizations that have worked collaboratively to design the components of the Atlantic Yards' Community Benefits Agreement.
"We turned to these organizations because each has expertise that we believed would benefit the overall project," Ratner said.
"We worked with them to develop the program and agreed to sign the document because we want to proceed as a team and we want the people of Brooklyn to know that we intend to work with them to ensure that this project produces real benefits because there are real needs."
According to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. Mayor Bloomberg. "The $3.5 billion project will create 8,500 permanent new jobs, 4,500 mixed-income apartments, substantial new commercial, retail, open space and host the first major league sports team to play in Brooklyn since the Dodgers.
"Brooklyn's working men and women and their families will have a stronger local economy and more affordable housing in their future."
The program, which was developed over the last year during a series of meetings, covers a broad range of benefits, including: Jobs Development: Public housing residents and low and moderate-income individuals in surrounding sur·round
tr.v. sur·round·ed, sur·round·ing, sur·rounds
1. To extend on all sides of simultaneously; encircle.
2. To enclose or confine on all sides so as to bar escape or outside communication.
n. neighborhoods will get priority in available jobs.
Also, a minimum of 35% of the jobs will be for minority workers and another 10% for women workers, with 35% of each category for journey level workers. FCRC FCRC Forest City Ratner Companies
FCRC Federated Computing Research Conference
FCRC Federal Contract Research Center
FCRC Florida Conflict Resolution Consortium
FCRC Fairfax County Republican Committee (Virginia) will use existing CLE Cle
total elimination clearance. programs to require contractors to hire part of the workforce from low and moderate-income areas.
FCRC will also develop a pre-apprentice training program to help new workers develop skills that they can use beyond this project. Atlantic Yards will use union labor.
At least five percent of pre-construction contract dollars will go to minority owned firms and three percent to women owned firms. During the construction phase, at least 20% of construction contract dollars will go to minority firms and 10% to women owned businesses. 20% of total' contract dollars (including Arena concession activities) will go to minority-women owned businesses for purchasing and service contracts (exclusive of FCRC affiliates).
The MWB MWB Mission Without Borders (Christian humanitarian organization)
MWB Metropolitan Water Board
MWB Must Win Battle
MWB Motor Whaleboat
MWB Maximum Window Burp
MWB Marine Whaleboat
MWB Ministries Without Borders
MWB Milkweed Bug program will also include a credit facility program and commercial lender Whilst nearly all lenders offer loans on a commercial basis the term commercial lender has differed meanings around the world.
And, FCRC will create a community based developer initiative to work with minority and women developers to provide assistance and resources for small-scale development throughout the City.
50% of the approximately 4,500 rental units will be for low and middle-income residents, with 10% of these set aside for seniors. FCRC will also work with renters in the project footprint The amount of geographic space covered by an object. A computer footprint is the desk or floor surface it occupies. A satellite's footprint is the earth area covered by its downlink. See form factor.
1. to find temporary housing during construction and then provide them with comparable size units at a comparable rent.
FCRC will build a health care center and inter-generational facility as part of the project.
FCRC will adopt practices that ensure a minimal environmental impact during construction.