Wednesday, January 28, 2009
Yankee stadium park costs skyrocket
The cost of replacing more than 22 acres of South Bronx parkland displaced by the new Yankee Stadium has skyrocketed 67% to nearly $195 million, according to a new report by the Independent Budget Office.
Design revisions, project additions, unanticipated cleanup of hazardous materials and construction inflation have driven costs up by $78.6 million, the report said. While the Yankees are financing the stadium — with the help of city and state subsidies — the parks are being paid for by the city.
Funding for the increase has been built into the city’s capital budget, according Doug Turetsky, chief of staff of the IBO, a city agency that operates independent of the mayor. A spokesman for the mayor did not immediately respond to a request for comment.