ALBANY — New York City officials confirm the New York Yankees are seeking more public financing to build the new stadium in the Bronx. State Assemblyman Richard Brodsky of Westchester, whose committee investigates public debt projects, says the Yankees now say that if they don’t get another $400 million in public borrowing the club might not be able to fi nish the stadium. Janel Patterson of the New York City Economic Development Corp. that is working with the Yankees says the project isn’t threatened. But she says the city is working to relieve an Internal Revenue Service regulation that prohibits more public debt to be incurred for the stadium. Brodsky says that IRS change is also being sought to help stadium and arena projects for the Mets and Nets.
Jeter should ask his family for the money----they all walk around wearing the 'family name' on their shirts,,,,,I see an aweful lot of them around,,,,,that Giambi dude too, has a big family.....ask them.........
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
CAPITOL Lawmaker questions public funds for Yankee Stadium Land value, ticket prices cited in letter to club president BY MICHAEL GORMLEY The Associated Press
New York Assemblyman Richard Brodsky wants the Yankees to explain why the proposed value for land under Yankee Stadium appears inflated in an Internal Revenue Service tax estimate. He also wants to know if the city agencies considering the team’s request for public funds will get a luxury suite in the new stadium. The Westchester Democrat raised the questions in a letter to Yankees’ President Randy Levine released Monday. Brodsky has questioned the Yankees’ request to subsidize the new stadium using $336 million in public funds issued by the city’s Industrial Development Agency. Brodsky also questions the Yankees about 2009 ticket prices and if there will be access for poorer fans. A spokeswoman for Levine declined comment. A spokeswoman for the IDA said she hasn’t seen Brodsky’s letter and had no immediate comment. “This goes to the heart of whether it is a public project or a private project,” Brodsky said in an interview. He said his review of documents concerning the project differ from public comments about the deal that would use public support to help the Yankees build their new stadium in the Bronx. IDA funds, which can include temporary tax breaks and incentives, are most commonly used to attract employers to an area served by the IDA and who promises to increase the number of jobs. Brodsky is chairman of the state Assembly’s Corporations, Authorities and Commissions committee, which has jurisdiction to review proposals involving IDAs. Brodsky seeks answers to several questions about: A New York City appraisal, obtained by Brodsky, that shows the land under the new Yankee Stadium is valued at $21 million, while city officials once told the IRS the land was worth $204 million. “The apparent purchase of a luxury suite” at the stadium by offi - cials for the city and the city IDA. Ticket prices for 2009 and whether low-income fans will have any seats set aside at prices they could afford. Facts backing up statements from the Yankees organization that the team would have left New York City if it didn’t receive a public subsidy. The number of jobs to be created by the short, but expensive move across the street from their current stadium. In a July 2 letter from Levine, released Monday by Brodsky, the Yankees stated about 35 percent of tickets at the new stadium will cost $25 or less. Levine also stated that, so far, New York state firms (including a large share in the city) have received $443 million in contracts. Levine also noted that the stadium proposal has already been reviewed by several state and city government boards, including the state Legislature where Brodsky supported it twice, and was picked apart by critics and in two losing lawsuits against the project. The Yankees seek additional public support from the New York City IDA beyond the $941 million in tax-exempt public bonds the organization already has issued for the $1.3 billion stadium. Under current IRS regulations, the Yankees cannot ask for more public debt to be incurred for the stadium. But city officials have been lobbying Washington for a change in IRS regulations that would allow the Yankees to get more tax-exexempt bonds.
Let me just say this-----WT*!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Ya'll sell $60.00 and up licensed shirts jerseys etc.......make a contract with your owners/commissioners/players etc......dorks....things like this really piss me off.........Maybe Mr.Steinbrenner could do commercials and 'donate' his $$.....kiss my a@#........again------dorks......
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
Hey, the old stadium was 'given' to NYC to use as a sports museum of sorts where all proceeds go directly to the city. Don't you just worry...Steinbrenner and NYC will both make out just fine.
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
Maybe you would like to fund them Sal.....buy a few gross jerseys and have homeplate named after ya.......that's what the politicos like to do......after they spend our money......I say get the fans a-donating.......
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
What about the other 65%, i.e, the vast majority of the seats?
Ah, the average person won't be able to afford to go. Baseball will be only for the rich and famous to enjoy attenting a game.
Oh, they have to collect that money to pay those multimillion salaries? Cut it out. Pay each player $100,000 and we can all enjoy baseball again
Optimists close their eyes and pretend problems are non existent. Better to have open eyes, see the truths, acknowledge the negatives, and speak up for the people rather than the politicos and their rich cronies.
It is not a family day at the ballpark anymore....it has become as costly as a 4 day vacation! I like the Yankees and watch them on TV, but I would not go to the stadium to watch a game.
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
CAPITOL Yankee Stadium tax exemption criticized BY VALERIE BAUMAN The Associated Press
State Assemblyman Richard Brodsky says he’ll issue a report today finding that New York City manipulated the assessed value of the new Yankee Stadium to get an Internal Revenue Service tax exemption. “We have done a fair, careful, thorough analysis and have uncovered some very disturbing things,” Brodsky said. Seth Pinsky, president of the New York City Industrial Development Agency, said he hasn’t seen the report but rejects its claims. He said the new stadium will create 1,000 permanent jobs, add new infrastructure, new transportation access to the Bronx and was already subject to nearly 20 public hearings. “It appears the assemblyman is rehashing charges that he has made repeatedly and to which we have responded,” Pinsky said. Brodsky has questioned the Yankees’ request to subsidize the stadium with $336 million in public funds issued by the city’s Industrial Development Agency. He said the report indicates that taxpayers — not the Yankees — are paying for the construction of the new stadium. The report indicates that taxpayers have spent between $550 million and $850 million on the project to create only 15 new permanent jobs. Brodsky is the chairman of the Assembly committee on corporations, commissions and authorities, which has jurisdiction to review proposals involving IDAs. The Westchester Democrat said the IDA may have violated the law by creating massive amounts of public debt, and by failing to assure public benefits from the taxpayer investment. Brodsky also said the city didn’t protect the public from excessive ticket prices by the Yankees.
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
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