July 1, 2008
Some questions for the Assembly hearing tomorrow on Yankees' tax-exempt financing (and what about the Nets?)
Atlantic Yards Report
On Wednesday morning, the Assembly Standing Committee On Corporations, Authorities And Commissions, chaired by Assemblyman Richard Brodsky, along with three other committees, will hold a joint hearing in Manhattan in order to look into "the request for increased public financing for construction of a new Yankee Stadium in New York City."
While a focus on the Yankees is understandable, an exclusive focus is curious, given that less than three weeks ago Brodsky issued a press release stating that the hearing would examine the New York City Industrial Development Authority's "practices and procedures for issuance of public debt with respect to sports facilities for the Yankees, Mets and Nets."
I asked Brodsky's office about the narrowing of focus; when I get a response I'll publish it.
Even if the hearing does not specifically address Forest City Ratner's expected request for $800 million in tax-exempt financing (though DDDB assumes it would), any scrutiny of the city agency's effort to get a "loophole" grandfathered in for the Yankees seemingly would apply equally to sports facilities sought by the Mets and the Nets.
Read on for the list of Norman Oder's questions for the hearing.
Posted by lumi at July 1, 2008 4:27 AM