Monday, January 5, 2009

Brodsky: Postpone Vote on Bonds for Mets, Yankees


NEW YORK (AP) -- A state assemblyman investigating the financing agreements for the Mets and Yankees new ballparks is asking to postpone a vote on additional public bonds for the projects.

Assemblyman Richard Brodsky released a letter Friday requesting the city Industrial Development Agency to delay the Jan. 16 vote.

The baseball teams are asking the city for $450 million more in public bonds to pay for their new parks, and the IDA has scheduled a Jan. 15 hearing to discuss the additional public support.

Janel Patterson, an IDA spokeswoman, said the agency had followed the public process and would vote as scheduled.

The Yankees are asking for another $259 million in tax-exempt bonds and $111 million in taxable bonds, on top of the $940 million in tax-exempt bonds and $25 million in taxable bonds already granted for its $1.3 billion stadium.

The Mets want another $83 million, in addition to the $615 million already approved for their $800 million park.

Brodsky has said the first round of public support for the ballparks was granted without sufficient public input, and wants the city to provide more documentation about the process before any vote takes place for more bonds.

3 comments:

Anonymous said...

There should be no more additional bond dollars to raise for baseball stadiums. The teams are economically profitable and should raise capital privately without public support or perhaps they should sell their team or go bankrupt like anyone else today.

Taxpayer said...

These two business can first cut salaries of its employees and raise sufficient money with plenty left over to play games.

Taxpayers must not be required to pay for play!

CJ said...

No! No! No! The average sports fan has been completely priced out over the course of the past few years. Not only are we expected to pay an exorbitant admission price, but now we are expected to subsidize something that most of us are finding increasingly unaffordable.
You want to sign that 40 million dollar pitcher, pay for it out of your pocket.
I have been a Mets/Ranger fan since 1962, but I'll be dammed if I ever go to see a game again.
You wanted to build a Taj, no let your rich friends support it. I won't.
BTW
1962 Met ticket 1.50
1962 Ranger ticket 1.00 (G.O.)
Any highschooler could afford it.