UPDATE: Daily News is now reporting that IRS records show a $5 million contribution from Forest City Ratner to BUILD. See below for a PDF of relevant pages.

Hoo boy… Sorry for the long lead-in, but this one needs some space. And if you’re an accountant or a “follow the money” type, you may be especially interested in bearing with us. We promise to bold the important parts so you can skim ahead.

The apparently non-profit group BUILD (Brooklyn United for Innovative Local Development) is clearly the biggest and loudest bunch of cheerleaders for the Forest City Ratner (FCR) Atlantic Yards Project, the multi-billion-dollar stadium/condo-skyscraper development that will bring the New Jersey Nets to Brooklyn, casting a long shadow over Prospect Heights and making developer Bruce Ratner even more obscenely wealthy than he already is.

Here in Prospect Heights, some stadium opponents suspect that BUILD is a mouthpiece front bankrolled by FCR. And it doesn’t help appearances to see somebody flaunt their stuff in front of BUILD’s likely-very-expensive storefront office on Vanderbilt Avenue. Lucas wrote this a while back on Daily Heights:

“let me throw out a point for the debate: The *brand-new* massive silver Cadillac that pulls up in front of BUILD each day… what better instrument to contrast the ‘extreme rates of poverty, unemployment and underclass entrapment’ in the surrounding neighborhood?”

(Previously, we joked that the real source of BUILD’s wealth is 65-cent color copies (see picture).)

Meanwhile, BUILD portrays itself as a scrappy, grass-roots, faith-based community group that champions the interests of the poor and downtrodden. In fact, they flat out deny financial support from Forest City Ratner on the BUILD website:

“Fact: Since its inception BUILD has been supported by its members and community based supporters. BUILD’s faith in God and strong ties to the community has sustained and perpetuates our operations and advancement of our mission. Space, computers, supplies and time has been donated to the organization by its members since its inception this year (1/2004).”

So naturally we were shocked to see this comment here on Daily Heights about a week ago (held and not published until now): “I have a copy of BUILD’s 501(c)(3)tax exemption application. In response to ‘what are or will be the organization’s sources of financial support? List in order of size.’ The response was ‘real estate developers, individual private contributions” in that order.”

Well, interesting… but even if it’s true, that doesn’t prove anything, does it?

The commenter continued: “In addition, on its form 1023 filing, it shows that President Caldwell receives annual compensation of $125,000 while CEO Marie Louis and Chief Administration Officer Shalawn Langhorne each receive annual salaries of $100,000. Not bad for a small not-for-profit. Maybe I’m in the wrong business.”

While we were mulling this over, we got the follow-up comment: “Lo and behold, question 12B on form 1023 lists ‘FOREST CITY RATNER COMPANIES’ as making a $5M contribution. I guess that mystery is solved.”

How could this possibly happen? It all seems so cut-and-dried. We’re talking public records here… if it’s in the public record, why on earth would they turn around and call it a “myth” that “BUILD is financially supported by Forest City Ratner”? Here’s a scan of some relevant pages [click for PDF] so you can judge it for yourself, sent in by Daniel Goldstein of Develop Don’t Destroy Brooklyn.

So… FCR and BUILD… care to explain yourselves?

READ REACTIONS FROM BUILD and FCR: Source of Build’s Wealth Revealed? [Prospect Heights Message Boards]

Regarding today’s Prospect Heights manhunt, mc reports: “Okay, I’ve just gotten the scoop…. According to two sources, a man in an ‘89 Honda nearly hit a police office on a motorcycle in Manhattan and sideswiped another vehicle and refused to stop…”

“He was chased by police officers from Manhattan, over the Brooklyn Bridge, and drove to Prospect Heights where he fled the car. One witness reported seeing him flee in flip-flops. He is ‘in the wind’ at this time.”

“The car remains on St. Johns between Washington & Underhill, where it is being dusted for prints at this time. No injuries have been reported.”

Carnivore (and others) react: “DUDE! They couldn’t catch a guy fleeing in flip-flops? That is pathetic!”

See post below for the highlights or go to the Prospect Heights Message Board to see the whole thing unfold.

4:52 PM: Anybody in the neighborhood right now can hear them circling around. There’s one stationary over about Washington Ave. and another that’s in a repeated circle. What’s the deal? Just heard a siren on the street as well.

UPDATE: Anonymous guest writes: “I was going in my building on the corner of St. John’s and Underhill just as 5 or 6 police cars (some unmarked) were pulling away from the corner. I asked a guy who was standing around and he said some guy took off up St. John’s (towards Washington) with many police in pursuit (not sure if it was on foot, or by vehicle). Have a feeling they have him cornered or something…”

UPDATE 5:13 PM, mc writes: “According to the police officer I spoke to: “They’re looking for one of the guys in that building (on St. Johns between Washington & Underhill, closer to Washington.)” He didn’t know if said guy was still inside or not. Another man asked him, “It’s not one of them terrorist is it?” He shook his head no.
There are 50 million police vehicles there and still more arriving. What fun! I’m gonna check to see if the “guy” is in the backyard.”

UPDATE 524PM: Photos from Carnivore:

kellyjelly writes: “A cop staked at the top of St. John’s said that a man they are looking for parked his car on the block … they suspect he’s still on the block, or at least in the area. I asked if I should be wary of walking the streets at the moment, and he said ‘I don’t know, we don’t know what kind of man he is until we find him.’”

UPDATE 539PM: mc is back from the scene: “The cops aren’t giving up any info. They’re looking for some guy who did something. … Some “eyewitnesses” said they saw some guy take off. … There is a double-parked car that has the bejesus scrapped off of it. Could have been done by an emergencey vehicle or maybe the guy took off in a car and scraped it. … I assume this ‘guy’ is still on the loose cause there are still tons of police around.”

CARNIVORE: “One of the girls at the corner of Sterling and Underhill said a bunch of cops were charging up the stairs of her building with their guns drawn.”

MUTEFLUTE: “According to one fellow there, the police had earlier been charging down into basements with their rifles drawn.”

UPDATE: Some Guy Who Did Something, On the Loose on St. John’s Place??
Get updates here.

Sarah from the Slope sent in this shot of the which has been “improved” by local movie buffs: “This was sent to me from my husband’s cell phone, and I’m forwarding it to you because I love your site (even though I actually live in the North Slope). I guess some artist-poets-vandals finally got tired of wondering when “Man on Fire” and “Van Helsing” would actually close… though I think the poet-vandals must have added some letters of their own, right? Or am I mis-remembering the movies that were on there before?”

Discuss: Van Helsing Vandals Strike! [dailyslope/dailyheights message boards]