Tuesday, February 07, 2006

2/7/6, Ny1: "Watchdog Group: New Yankee Stadium Will Cost Taxpayers"

Watchdog Group: New Yankee Stadium Will Cost Taxpayers

February 07, 2006

The group “Good Job New York” says the proposed new Yankee Stadium will cost taxpayers up to a half-billion dollars.

While the Yankees will cover the $800 million tab for the new stadium, Good Jobs New York says once subsidies are factored in, the project would cost taxpayers $480 million – more than double what has previously been suggested.

In a report called "Loot, Loot, Loot for the Home Team,” the group argues the stadium will not generate enough money for the city and says it would only create 900 permanent low-wage positions.

"The Yankees are asking for a ton of money from taxpayers, New York City and New York State, and they created this deal out of table where no one from the community was," said Bettina Damiani of Good Jobs New York. "In the process, they've managed to take away a park. We're supposed to spend taxpayer money to tear down Yankee Stadium. I don't think many taxpayers would approve of that if they knew that's what the process was."

The report also says a plan to replace lost park space is inadequate and says there has not been enough community involvement.

The report offers a number of suggestions for improvement on the plan, including having the Yankees consider other options such as renovating the current stadium instead of replacing it.

said: “It comes from a group that is nothing more
In response, Yankee President Randy Levine said the information in the report was “absolutely false and misleading.” In a statement, Levine than an anti-development advocacy group, whose policies should rename it No Jobs NY. The alleged new information is not new at all.” (sic)


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