Posts Tagged Yankee Stadium

Jan
14
2015

2014: A Landmark Year for Subsidy Accountability

Two-thousand fourteen was a banner year for our movement, hands down. The first move to require standardized subsidy-cost reporting! The first half of a legally-binding two-state cease fire deal! The first state ban on tax-break commissions! A big surge found in state disclosure of subsidies! Big improvements to our Subsidy Tracker, enabling first-ever mash-ups!

Mar
25
2011

Bondholders of Yankee Stadium Garage Bonds Get Extra Innings

The April 1 deadline for the Bronx Parking Development Corporation to get its act together is no prank. Thanks to a glut of parking space at the new – subsidized to the hilt - Yankee Stadium, the parking garages, also subsidized to the hilt, have gone so unused the owners are struggling to pay its bondholders. It was widely reported that the $237 million in private activity bonds to finance the garage were going to default at the end of next week. However, today Juan Gonzalez at the Daily News reports that directors at the firm agreed to dip into its debt reserves (again) to pay the bondholders as well changes to its operations, like getting approval for expenses from an appointee chosen by the bondholders.
 
We can’t say New Yorkers didn’t see this coming.

Mar
11
2011

Report Documents Proof of Low-wage Employment at NYC Subsidized Projects

This week, Good Jobs New York, along with the Fiscal Policy Institute and the National Employment Law Project, released a report highlighting how New York City economic development policies often support low-wage jobs.

Jan
23
2009

New York Baseball Teams’ Win Is Taxpayers’ Loss

Last Friday, just one day after a heavily attended public hearing, the New York City Industrial Development Agency (IDA) approved