MTA votes to enter into exclusive negotiations with New Jersey Nets owner

? The Metropolitan Transportation Authority (MTA) has decided to enter into exclusive negotiations with Nets owner Bruce Ratner on the Atlantic Railyard project.

In his proposal, Ratner highlighted building a new stadium for the New Jersey Nets and constructing 6,000 new housing units. The proposal from Extell Developments included building only 2,000 new housing units. Company representatives at Extell are upset with the MTA because they think they should of been afforded the same opportunity to revise their proposal as Ratner.

Mayor Bloomberg?s representatives favored Ratner?s proposal but community groups are agitated because the proposal may take away houses that are within the areas domain.

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