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January 11, 2009
Atlantic Yards Report - Two We Missed
Atlantic Yards Report
Was value-engineered arena driven by revenue analysis?
GumbyFresh, who notwithstanding the moniker is pretty well-situated to observe the financial markets, thinks the news of the value-engineered arena was driven by a cold hard look at the costs and revenues.The New York Times's Charles Bagli, who appeared on the Brian Lehrer Show this morning, suggested it was a question of financing--a not dissimilar thing.
Brodsky, Brennan to hold hearing on Yankees' bond request a day before IDA hearing
The latest sports facility deals may have hit a bump in the road. Yes, the New York City Industrial Development Authority (IDA) has scheduled a hearing January 15 on $342 million in new tax-exempt bonds the New York Yankees and the New York Mets are requesting from the city, with a board meeting on approval the very next day.Not so fast, say Assemblymembers Richard Brodsky and Jim Brennan, who chair the Committee on Cities and the Committee on Corporations, Authorities and Commissions respectively. They've scheduled a hearing January 14 "in the face of the refusal by the City to postpone a final decision until a full understanding of the law and the facts could be brought forward."
Posted by amy at January 11, 2009 10:14 AM