Monday, July 23, 2007

Getting 'Yank'ed around

"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


Anonymous said...

Let us not forget what Mayor Doomberg said in 2004:

'Nuff said?

The comments were made prior to re-election. Maybe we need another election...NOW!??!?!?!

Anonymous said...

As a result of subsidies, the new Yankee Stadium can keep its name, instead of receiving a corporate name such as Citi Field.