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January 16, 2009
City Agency Approves More Funding For Yankee Stadium
NY1
Here's a big surprise.
The city's Industrial Development Agency approved another $370 million in tax-exempt bonds for the new Yankee Stadium today.
The panel voted 11 to one in favor of the additional funds. There was one absention.
It's been the subject of two days of heated hearings this week.
The IDA discussed the issue yesterday. On Wednesday, Yankees President Randy Levine defended the request before a State Assembly hearing.
The team says it needs more money to pay for rising construction costs.
Assemblyman Richard Brodsky has accused the Yankees and the city of working together in illegal secrecy. City Comptroller Bill Thompson has accusing the city of financial incompetence on the project.
link (with video)
The one "nay" was cast by the Comptroller's representative.
Posted by eric at January 16, 2009 2:29 PM