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June 19, 2010

The Atlantic: one idea that has outlived its usefulness is "publicly financed stadiums"

Atlantic Yards Report

From the July/August 2010 issue (Ideas) of the Atlantic magazine:

Ideas That Have Outlived Their Usefulness
• The mortgage-interest deduction
• Jared from Subway
• Publicly financed stadiums

I think Neil deMause of Field of Schemes (interviews) was ahead of the curve on this one.

Note that Atlantic Yards, as with the new baseball stadiums, is not directly publicly financed in the blatant way some other sports facilities are, but relies on significant infrastructure subsidies, tax breaks, and a tax-exempt financing scheme that the Treasury Department no longer allows.

link

Posted by steve at June 19, 2010 8:23 AM