Nets’ Brooklyn arena takes key step

NEW YORK — A massive proposed complex including a new arena for the New Jersey Nets is ending the year with momentum, though opponents say they’ll keep trying to stop the massive project.

The developer planning the proposed $4.9 billion Atlantic Yards development signed key documents Wednesday letting the project proceed as a state agency filed papers to force the sale of part of the 22-acre property through condemnation.

Last week, developer Forest City Ratner Cos. sold more than $500 million in bonds to finance the arena and completed a plan to sell 80 percent of the team and 45 percent of the arena to Russian billionaire Mikhail Prokhorov.

But some lawsuits fighting the project continue, and opponents say they will challenge the condemnation proceedings.
Copyright 2009 by The Associated Press

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