NEW YORK, NY June 24, 2009 —Two state agencies are spending this week revising the deal that would bring the Nets basketball team and a massive real estate development, to Brooklyn.

The board of the MTA is expected to vote this morning on a new payment schedule, that would allow the developer to put only $20-million down on the project, instead of a promised $100-million up front. And yesterday, the state economic development agency gave a preliminary green light to that plan

Joining to explain these changes is WNYC's economic development reporter Matthew Schuerman.