A $100,000 Graduation at Nets Arena?

The Brooklyn Paper got a hold of an audit conducted for the state that reveals that Forest City Ratner was planning on charging outside organizations $100,000 to rent the Nets arena for graduation ceremonies and other non-sporting events–while the company had once promised to make it available to community groups for “a reasonable rate.” A Nets official said the actual rate may vary.

The audit also says that Forest City expects to clear $400 million a year in “pure profit,” according to the community weekly.

- Matthew Schuerman

Update: Norman Oder had this first.