Well, while local and state level politicians have show their willingness to give Bruce Ratner anything he asks in exchange for empty promises Ratner is already backing out of, the IRS took a muct more skeptical look at Ratner's demands. And they have refused to qualify Ratner's overdevlopment of Brooklyn for triple tax-exempt bonds. This is a big blow to Ratner. This comes from Develop, Don't Destroy Brooklyn:

Bruce Ratner's Barclays Center Arena Not Qualified for Tax-exempt Bonds Under Today's IRS Ruling

New York, New York -- The IRS today issued a long awaited decision on the regulation of triple tax-exempt bonds. Forest City Ratner’s Atlantic Yards Barclays Center Arena is reliant on $800 million in triple tax-exempt bonds.

Today’s ruling, including the rule titled “transitional rule for certain projects substantially in progress,” disqualifies the developer, Bruce Ratner, from getting these bonds for his $950 million arena.

I suppose I am type-cast to be attracted to this fund-raiser. It supports progressive students as they campaign for progressive congressional candidates. As a former student campaigner, as the parent of former and future campaigners, as a leftist who wants to leverage low-cost labor for progressive campaigns, this event is a natural. I'm going. You should consider coming too.

The organization benefited, Students For A New Politics has a great track-record. In 2006 they successfully campaigned for progressives all over the country. Help them do it again. Candidates endorsed so far for 2008 are Tom Allen (D-ME), Darcy Burner (WA-08), Jim Himes (CT-04), Mary Jo Kilroy (OH-15), Tom Perriello (VA-05) and Dan Seals (IL-10). .

Additional reasons for going: good company, great location: Council Member Gail Brewer breath-takingly pretty UWS home; A sliding scale; people who are broke, like me, can go for less, pay what we can .

Several of the key words missing from Mayor Bloomberg’s State of the City address this past Tuesday were “traffic” “congestion” “ sustainability.” Streetsblog noticed and also that the only mass transit reference was to the extension of the #7, a project the City is said to see as key to the development of the far West side – especially to the Javits Center and the former Stadium site.

Although the Mayor seems to have lost some interest in transportation, congestion and sustainability issues, the NYC Council, plans to move forward next week on legislation which, if enacted, would require NYC’s Department of Transportation to consider factors other than cars and trucks when it decides on projects. At present, DOT getting its marching orders from the Mayor, evaluates proposed transit projects from the point of view of moving more vehicles faster. The proposed law, Intro 199 of 2006 was introduced principally by Council Member Gail Brewer. Drafted in conjunction with Transportation Alternatives, it has collected 20 co-sponsors and has been endorsed by a number of community boards. See a Transportation Alternatives description of Intro 199 here.

The Council’s Transportation Committee will hold a first hearing on the bill. At present it's scheduled for Thursday, Jan 25, 2007 at 10AM in the Council Chamber