Atlantic Still High and Dry

The application by a top Pataki contributor for state financing of two low-income apartment buildings is still in limbo, having failed to receive final approval for the third time in a row.

The application, from Peter Fine’s Atlantic Development Group, was tabled at two previous meetings of the Public Authorities Control Board. At a meeting earlier this week, it was not even considered, according to a spokesman.

“There was no attempt to put the issue on the agenda because the Assembly was still not ready to act,” said Scott Reif, spokesman for the state Division of the Budget. “There will be a decision next week on whether to put it on the agenda for June 21.”

There are three votes on the PACB, one each controlled by the Speaker of the Assembly, the Majority Leader of the Senate, and the Governor, and any single nay vote kills the issue.

State Assemblymember Sylvia Friedman and state Senator Liz Krueger have voiced concerns about the buildings–one in Murray Hill and the other on the Upper East Side–that Fine wants to build, saying that they are too costly. Pratt’s report today gives the argument against Atlantic (PDF–see p. 27). For the pro-Atlantic argument, check out the response to our previous post on this story by the President of the Doe Fund, which would collaborate on one of the apartment buildings.

We have calls out to Atlantic and are waiting to hear back.

Matthew Schuerman Atlantic Still High and Dry