Last Wednesday, Bruce Ratner unveiled the new design for the hopeful 18,000-seat basketball arena for the Nets, to be located near Downtown Brooklyn.
Ratner will be attempting to raise $700 million in tax-exempt financing for the development if plans are approved next week by the Empire State Development Corporation. If this financing is approved, it will be held in escrow until the Court of Appeals issues their decision on the case, which will be heard later this year.
Click here to view photos of the new proposed arena, featured from the NY Times.
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