Brooklyn Bridge
Bruce Ratner, the Nets’ principal owner, will get a 22-year delay on paying the full $100 million for the right to build a new arena in Brooklyn.
He will pay the Metropolitan Transportation Authority $20 million up front and another $80 million in installments under the plan, which the full MTA board will vote on Wednesday.
Under the revised deal presented to the MTA finance committee on Monday, Ratner will pay $20 million at closing and then make additional payments until 2031.
City and state officials have long believed the project will benefit the area by generating tax revenues and creating jobs.
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