Thursday, October 16, 2008

Congress to hold hearings on Yankee Stadium deal

A congressional panel has scheduled a hearing in Washington next week to determine whether appraisals of the Bronx property on which the new Yankee Stadium is being built were manipulated by the city.

Critics claim New York City inflated the property's value more than six times its actual worth to secure Internal Revenue Service approval of the city's plan to allow the $1.3-billion stadium to be constructed with tax-exempt bonds.

The city has said the appraisals were done by two different agencies, on dates about a month apart, using different criteria.

The land appraisals will be reviewed during an Oct. 24 hearing of the Domestic Policy Subcommittee of the House Oversight and Government Reform Committee. The subcommittee is chaired by Rep. Dennis Kucinich (D-Ohio).

Washington investigates Yankee Stadium appraisals


Anonymous said...

The Yankees should pay their own freight - they demand everything and thus should pay for every little cent - not mooch off the poor Bronx residents.

Alan said...

I think the link is relevant once again:

Anonymous said...

Congress should hold hearings
on the attempt by Bloomberg and his council henchmen to steal a 3rd term!

Anonymous said...

I know it is not exactly the same subject but I gotta tell ya: I have a feeling old Yankee Stadium will be standing there and rotting a lot longer than people think it will.