Dear everyone, Our unstoppable multitalented community has analyzed the gaps in the Park's financial disclosure puzzle, and we've arrive at a new and exciting picture of the Park's lowballed revenue projection. This presents a pivotal opportunity for our empowered community to claim ownership of this "self sustaining park" financial model, and the "insufficietly ambitious" plan to build more condos/housing in Brooklyn Bridge Park that will forever takeaway precious park space at Pier 6 from our fast growing Brooklyn Borough. Below is a highlight from our press release and a link to the full PDF release. Happy reading! *** AUGUST 18, 2014 BROOKLYN BRIDGE PARK DOES NOT NEED HIGHRISE CONSTRUCTION ON PIER 6 TO FULLY FUND ITS MAINTENANCE AND OPERATIONS EXPIRING TAX BREAKS TO GENERATE HUNDREDS OF MILLIONS IN HIDDEN INCOME TO FUND THE PARK, ELIMINATING THE NEED FOR ADDITIONAL HOUSING THAT WILL LIMIT PUBLIC ACCESS TO THE PARK An analysis of projected income at Brooklyn Bridge Park reveals the park is poised to reap a seven-fold increase in certain real estate taxes on one building as tax breaks expire in coming years, raising as much as $200 million over the next 50 years which will more than fund park maintenance and operations as well as its one-time maritime repair of its supporting piers. Additional revenue from other types of expiring tax breaks are anticipated to reach between $30-40 million over the next 50 years, and these figures exclude several buildings where the information is not yet publicly available. The Brooklyn Bridge Park Corporation (BBPC) did not disclose the additional $4 million annual funding stream from the existing building at One Brooklyn Bridge Park (OBBP) in their financial presentation2 on August 6 to explain the need to build two large condo towers on Pier 6 at what was envisioned as a major promenade and gateway within the park. The park based its analysis on fiscal year 2018, just before the residential tax break at OBBP begins to expire, which has the effect of lowballing projected income for the city-state corporation that oversees and manages the park. Here is our full press release: http://media.virbcdn.com/files/09/9c7cb70d1771a64d-PFGSFoundation-FiscalAnalysisPressReleaseFINALAug18.pdf *** We are advocating - Taking a step back, once every decade, to think about the decade ahead? Ultimately, the people who get involved (huzzah to our petition signers! Thank you!) will shape this process and what happens in our Brooklyn home. Please ask your friends and neighbors to join us by signing the petition and following Save Pier 6 on Facebook. As always, we welcome questions, feedback, and insights. Most gratefully, Lori www.savepier6.org