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November 15, 2005
Bloomberg's Gift Horse
The Village Voice
Neil deMause gets to the bottom of the Yankees and Mets stadium deals. Both deals were rolled out to great fanfare because they are "self-financed," or are they?
The truth about stadium deals is in the fine print, and nowhere has the print been finer than in the deals concocted by Bloomberg and his sidekick for economic development, Dan Doctoroff. An analysis by the Voice of public documents reveals that when all is said and done, the Mets' and Yanks' "privately financed" stadiums would stick taxpayers with a bill of at least $800 million—and possibly hundreds of millions of dollars more.
Read about PILOTS, state giveaways, rent subsidies, property tax abatements, all "cut from the same cloth as Doctoroff's now defunct Jets plan."
NoLandGrab: Has Ratner stopped bragging about how is arena is "self-financed" yet?
Posted by lumi at November 15, 2005 6:38 AM