A tiny City News Service item in Friday’s Los Angeles Times business section told the tale. Or at least part of it: “A blighted, 32-acre railroad property northeast of downtown Los Angeles will be redeveloped into an industrial park with the help of $11.75 million in grants from the federal government, officials said.”The story was mostly right — though according to more recent information, only 10 percent of the funding will come from grants, with the rest in federal loan guarantees. The site, known as the Chinatown Yards, sits in the crotch of the 5 and 110 freeways, and for nearly a century accommodated the freight activities of the Southern Pacific Railroad. The development deal was nurtured by Mayor Dick Riordan, and will, of course, bring new activity and industry to a previously desolate and unloved area, plus new revenues to the city. Good show for all, right?ADVERTISINGWrong, says Lewis MacAdams, poet, naturalist, and key figure in the benign Green revolutionary cadre known as the Friends of the Los Angeles River. FOLAR and various neighborhood groups have their own plans for the site, MacAdams says — plans that include riverside green space, affordable housing, a middle school, perhaps, and other stuff much more beneficial to the community than what MacAdams foresees as more than 30 acres of prefabricated warehouses on the eastern border of Chinatown.