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Kucinich:"Improprieties, Possible Fraud" With New Yankee Stadium Bonds
By
Jen Chung
Published Sep 19, 2008
Modified Sep 19, 2008
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By
Jen Chung
Published Sep 19, 2008
Modified Sep 19, 2008
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Representative Dennis Kucinich suggested approval for $924 million in tax-exempt bonds for the construction of the new Yankee Stadium could be rescinded, due to some questions about the land's value. He said his probe found "substantial evidence of improprieties and possible fraud by the financial architects of the new Yankees Stadium." Last week, the Daily News' Juan Gonzalez had a column noting the city's assessment of the land worked out to be $275/square foot -- but city assessors previously valued it at $25/square foot. The IRS noted the different valuations ($40 million vs. $204 million) and may investigate further. And speaking of new Yankee Stadium, WCBS 880 went on a tour and took some photos.
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Dennis Kucinich
juan gonzalez
new Yankee Stadium
tax-exempt bonds
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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