With hearings and a vote coming up this week on the latest round of Yanks and Mets stadium subsidies, I provide a stadium shenanigans FAQ:
This will be, with any luck, the last time I have to write about Yankee Stadium finance in this space. This Thursday at 10 a.m. at 110 William St., the city Industrial Development Agency will hold a public hearing on whether to give the Yankees an extra $259 million in tax-free bonds, on top of the $940 million they already received. (The Mets are asking for another $83 million, too, but they’re still second fiddle even on the business pages.) Barely 24 hours later, the IDA board will vote, and one way or another this whole sorry affair will be behind us — except for the next 30 years we’ll spend paying new stadium ticket prices.
So, with no further ado, here’s what you need to know for this Thursday’s mayhem… [read more]