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City Approves More Funding for New Yankee, Mets Stadiums
By
Jen Chung
Published Jan 16, 2009
Modified Jan 16, 2009
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By
Jen Chung
Published Jan 16, 2009
Modified Jan 16, 2009
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The city's Industrial Development Agency has approved to funnel more tax-exempt bonds to the Yankees and Mets. The AP gives the rundown on the numbers, "The Yankees were granted another $259 million in tax-exempt bonds and $111 million in taxable bonds, on top of $940 million in tax-exempt bonds and $25 million in taxable bonds already granted for its $1.5 billion new Yankee Stadium in the Bronx. The Mets got an additional $83 million, after the $615 million already approved for $800 million Citi Field." Critics of the funding have accused the Yankees and Mets of using the government as a cookie jar, but the Yankees said they needed more money because of rising construction costs. So, when you walk into the new Yankee Stadium or CitiField, feel like an owner—because you partially do!
Tagged
baseball
citifield
mets
tax-exempt bonds
tax-free bonds
yankee stadium
Yankees
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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