« Apple polishers fatten Mike fund | Main | NJ Nets struggle, but Kidd retracts trade demand »
January 16, 2005
Stadium Games: Give and Take and Speculation
New York Times:
Three years later, the city faces a $2 billion gap in the coming fiscal year's $47 billion budget. Nonetheless, the mayor and Gov. George E. Pataki are on the verge of approving three new sports sites - a football stadium for the Jets, a baseball stadium for the Yankees and a basketball arena for the Nets - that will require a combined public investment of at least $1.1 billion.It is not easy to assess precisely what the taxpayers will get out of their investment, which is equivalent in cost to a major Manhattan skyscraper or 25 schools with 600 seats each. In part, that is because the economic benefits are based on studies commissioned by the teams themselves, and promoted by the government sponsors of the projects.
Posted by amy at January 16, 2005 11:18 AM