"It's obviously not the first time there were major cost overruns associated with a large develop- ment project in the city," Good Jobs research analyst Dan Steinberg tells the Voice—the city's $100 million cost for Brooklyn's Atlantic Yards project, he notes, mysteriously "leaped to $205 million" earlier this year, while the 1970s renovation of Yankee Stadium was initially budgeted at $24 million before ballooning to a final price tag of $101 million.
Yanks Reach First Place ... In Stadium Subsidies
Baseball's New York Yankees will get taxpayer subsidies worth $217 million more than first estimated for a new stadium, a civic group said on Friday, blaming ex-Mayor Rudolph Giuliani and Mayor Michael Bloomberg for the ballooning cost.
N.Y. Yankee stadium cost up, mayors blamed: study
City, state and federal taxpayers will pay $663 million in today's dollars for the new stadium in the Bronx, according to Good Jobs New York, a nonpartisan group.
That is $217 million more than its April 2006 estimate.
Photo from Village Voice