New York state's economic authority waived $5.25 million in penalties against the developer of the Atlantic Yards project, which failed to deliver 876 affordable housing units by the May deadline. Despite ongoing efforts to transfer development rights, the new developer has not been approved. Empire State Development indicated continued progress but did not specify conditions under which fines could be collected. This decision has drawn criticism from community groups and local officials who are concerned about the project’s accountability and its obligations to the community.
New York's Empire State Development waived penalties against the Atlantic Yards developer after they missed deadlines for affordable housing construction, now totaling over $5.25 million.
Despite failing to meet the May deadline for 876 affordable housing units, New York's Empire State Development continued to work on transferring development rights while waiving fines.
Community groups and elected officials expressed outrage over the decision to waive penalties, highlighting concerns about accountability in the Atlantic Yards project's progress.
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