fast payday loans no credit check canada credit card history in the philippines how to get a credit card today and use it today credit score needed for capital one business card whats a good first credit card can a credit card company garnish your wages in pennsylvania credit card limit increase good or bad forbes best credit cards for college students the best credit cards in canada how to check hsbc credit card points whats the average credit card apr applying for a credit card with no credit southwest rapid rewards plus credit card review virgin prepaid visa credit card delta miles credit card no annual fee unsecured credit card loans for bad credit no fax payday loans direct lenders visa debit card rewards program checklist for comparing credit cards disney chase visa credit card wells fargo credit card rewards site no credit history credit cards chase walmart credit card cashback rules household bank credit card payments online tesco credit card payment date apply for credit card uk online united cash loans suze orman pay off credit card debt or save chase mastercard credit card logon is the amazon visa card a credit card icici bank credit cards online apply granite credit card uk credit card with bad credit no deposit easiest retail credit card to get with bad credit target credit card vs target visa credit card rona advantage credit card virgin prepaid credit card south africa what is a secured credit card wells fargo citibank credit card 20 cash back how often can you get cashback on walmart credit card credit card cashback british airways credit card deals best value credit cards 2012 uk online credit card processing for small business canada transfer credit card balance to low interest loan stolen credit card numbers free 2013 credit card for college students with no job how to apply for bpi mastercard debit card balance transfer natwest small business credit card offers for poor credit capital one balance transfer rates existing customers does arco gas have a credit card citibank platinum credit cards india choice freedom platinum credit card credit card for bad credit instant approval south africa get unsecured credit card poor credit sbi credit card offers on flight booking 2013 credit score needed for chase freedom credit card credit cards cash back on gas misuse of company credit card policy requirements for credit card application hsbc free guaranteed approval credit cards free prepaid credit card no fees household bank credit card sold to capital one discover credit card student credit cards with low apr for students top zero percent credit cards types of delta american express credit cards apply mbna credit card canada what is cash advance interest rate india credit card no foreign transaction fee citibank singapore credit card minimum payment does applying for new credit cards hurt your credit score national city credit card application get instant payday loan online apply for bmo prepaid mastercard unsecured credit cards to build your credit check hdfc credit card application online should i consolidate all my credit cards apple updates without credit card unauthorized credit card charges skype compare credit cards australia balance transfer rfid credit card scanner theft best cash back rewards credit cards average credit card limit canada hsbc new credit card apply does credit card debt consolidation hurt your credit fake credit card numbers with security code for itunes mobile credit card machines ireland irs credit limit worksheet 2441 virtual visa debit card canada apply for a visa credit card for students fast online payday loans bank of america credit card login usa prepaid creditcard nederland mastercard best credit card company for students natwest credit card online banking credit cards with no annual fee for poor credit can you get a personal loan with bad credit credit card rewards uk best travel credit card for thailand does target sell visa gift cards get credit card with bad credit rating no credit check payday lenders direct getting a credit card machine with bad credit zero percent interest credit cards for 24 months best prepaid debit visa card types of hdfc bank credit cards how to apply for a credit card at target citi gold credit card uk template letter to claim credit card charges get a payday loan online direct lender credit card debt settlement companies in india canadian low rate credit cards capital one secured credit card review uk low interest unsecured credit cards for bad credit bank of ireland visa debit card locked the best credit cards 2013 malaysia fee free credit cards reward programs city union bank credit card online apply accept credit cards online square what are credit cards points discover? card virtual credit card generator titanium cashplus mastercard cash advance credit card atm best credit card for virgin air miles walmart credit card payment website virtual visa card for online shopping what credit card can i get best delta skymiles credit card best credit card reward program 2013 credit cards with rewards for fair credit bad credit credit cards guaranteed approval visa business credit card offers online hdfc credit card payment india online application for visa electron card contact united cash loans phone number best credit card deal uk hsbc sears credit card customer service department store credit cards for no credit history new social security credit card icici credit card bill payment status bad credit loans no fees or guarantor apply dbs debit visa card gas station credit cards for bad credit credit cards for poor credit with no annual fee discover virtual credit card number where can i buy a visa prepaid credit card discover credit card consolidation loans easy payday loans online japanese credit card number format discover credit card ratings visa cash back credit cards best best unsecured credit card after bankruptcy discharge can a credit card company take your tax refund no credit loans reviews where can i apply for a loan with bad credit disney rewards credit card application best credit card offer hsbc bank bangladesh international credit card apply for credit card without credit check department store credit cards with instant approval ann taylor loft credit card login lloyds tsb credit card customer services address bankrate average credit card rate chase 0 balance transfer prepaid credit cards business opportunity credit card reviews 2013 india what credit card to get with bad credit credit card cash advance atm limit american express small business credit card processing online credit card services natwest bank of america student credit cards with no credit hdfc credit card customer care number for bangalore how old do you have to be to get a credit card in canada how to use a credit card machine video citi debit visa card balance check credit card limit calculator international credit card services abn best fixed rate credit card deals icici bank credit card payment gateway starbucks platinum card sold out visa credit card offers usa annual fee free credit cards australia free credit check no credit card required uk credit card application check barclay credit card online banking how to redeem indianoil citibank credit card turbo points best payday loan sites no credit check how does a credit card work in india platinum card hull uni best credit cards uk martin lewis credit card after bankruptcy discharge australia average credit card debt uk 2012 loans to pay off debt with bad credit ntuc income credit card authorisation form what if i don;t want a credit card anymore paypal uk credit card reader credit card app for ipad 2 get easy credit card uk this transaction cannot be processed without a credit card verification number credit card services for small business canada rbs black credit card review vanquis credit card uk login rewards 660 visa credit card application consolidate credit cards canada credit cards after bankruptcy 2013 chase disney credit card credit card application hsbc philippines how can i apply for a mastercard comparison between credit cards in india 0 interest balance transfer credit cards malaysia standard chartered credit card online application status best credit card consolidation companies hsbc business credit cards uk household credit card debt 2011 how do 0 credit cards work aib visa card exchange rate unsecured credit card bad credit guaranteed approval credit card processing machines india standard chartered online credit card payment credit card compare uae hdfc gold credit card limits travel credit card uk us credit card number for kindle fire first premier bank credit card login page visa credit card usaa best credit card transfer deals nz compare the market credit cards balance transfer use paypal for credit card cash advance sbi personal loan apply online top 10 credit cards with low interest rates current credit card rates apr best credit cards to get with bad credit best cash back no fee credit card canada mortgages for bad credit northern ireland best credit card to get now barclay credit card apply online india getting credit cards after chapter 7 bankruptcy cheapest way to accept credit cards on website title loans online only chevron gas credit card apply best credit cards to use in the uk check your standard chartered credit card status zara black cashmere cardigan best cashback credit card 2013 canada credit card limit 10000 ambank credit card cashback 20 eligibility for standard chartered credit card india travel rewards cards for students easiest to get credit card canada balance transfer explained do i need a credit card to rent a car in canada 0 percent interest credit card transfer top gas reward cards icici credit card online payment ifsc code best cash back credit cards with no annual fee money mart prepaid credit cards in canada 10 best credit cards for students hsbc retail services for best buy credit cards best value credit card australia 2013 credit card payoff calculator excel spreadsheet remove apple credit card payday advance online bad credit peoples trust secured mastercard credit card application should i consolidate my credit card debt target visa card contact best mastercard credit cards rewards chase credit card visa united td canada credit card interest rates free credit card numbers that work 2012 compare credit card processing uk ambank transfer credit card balance square credit card reader ipad 2 hdfc credit card payment online from hdfc citibank credit card balance transfer online hsbc credit cards online payments best credit cards for college students studying abroad get a prepaid credit card instantly online hdfc credit card deals on movies credit card offers 2013 the best credit card for me best capital one card for bad credit bank of america credit card for business pay advance form 3d secure credit card validation mastercard capital credit card login page redflagdeals compare credit cards payday online loans reviews american express platinum card benefits uk credit card consolidation loan payment calculator cheapest credit card rates canada is discover more a good credit card can i get a credit card without a job and bad credit best uk credit cards 2013 tax refund on credit card interest icici credit card online payment billdesk fast payday loans direct lender credit card bad credit 1000 limit pro score credit card scale credit cards no credit check unsecured gas credit card reviews guaranteed payday loans for bad credit no fees best credit card terminal app for iphone joint credit card account uk portable credit card machine ireland new credit card charges set to hit consumers credit limit calculator for hdfc credit card anz reloadable prepaid credit cards credit card issuers in singapore best airmiles credit card uk 2013 receive credit card payments on android good credit cards to apply for with no credit credit card magnetic strip protector sleeve best refinance auto loan with bad credit alaska airlines credit card canada review my virgin credit card payment citibank business credit card payment pay walmart credit card bill online buy gold uk credit card chase credit card protection program remove credit card on file ebay no fee credit cards with cash back pay neiman marcus credit card maximum credit card limit calculator credit card number search tool best mobile credit card processing paypal what is the best credit card for me best credit card business credit card terminal application malaysia canadian credit card companies list gold cardigan monsoon which credit card offers the lowest interest rate wireless credit card terminal malaysia 5 cash back reward credit cards best credit card interest rates australia visa credit card fraud insurance excel sheet to calculate credit card interest best portable credit card machines barclays platinum simplicity credit card ipad app for accepting credit cards can i use my sears credit card at kmart best business credit card for airline miles chase get cash advance credit card online hdfc credit card offers what are considered major credit cards chase credit card comparisons contact halifax credit card address student credit card commonwealth bank australia major credit card companies wiki sbi credit card status platinum delta skymiles? credit card review payday loan no credit check no upfront fee hdfc credit card online payment through netbanking 0 apr credit cards for 12 months personal loan with bad credit online payday loan lenders uk new best cash back rewards business credit card best secured credit card bad credit ipad case with built in credit card reader instant online payday loans ohio transfer money from capital one credit card to bank account bank of america credit card 200 cash back list of all credit card processing companies best credit card to get with bad credit credit card loans in singapore direct payday loan lenders list how to download free apps for iphone 4 without credit card where can i buy visa cash cards computer credit card processing software top petrol cashback cards apply for wells fargo student credit card can you get store credit cards with bad credit do department store credit cards hurt your credit apply for wells fargo secured credit card list of payday lenders only discover credit card score requirements lowest credit card apr net pay advance inc report maurices credit card stolen bank of america merchant services credit card machines 0 apr business credit card offers how to increase credit limit on credit card starwood preferred guest credit card australia citi credit card balance transfer to bank account guaranteed payday loan lender new credit card fees retailers capital one secured credit cards for bad credit credit card with no annual fee philippines 2013 barclays credit card ppi refund business credit card with cash back rewards the best credit cards for students advance america cash advance reviews credit cards for poor credit scores uk what is a secured visa credit card credit card exchange rate calculator credit card cashback in store cash payday advance loans personal loan quotes online barclays credit card application status india low rate credit card australia secured business credit card with rewards capital one business credit card bad credit personal online loans with installment low introductory rate credit card canada new credit card apply online pnb chase freedom credit card customer service is it safe to apply for payday loans online best free balance transfer credit card lost td visa card buy mobile credit card machines how do i apply for a debit mastercard sears credit card application phone halifax credit card minimum payment amount best value credit card singapore best credit card for limited or no credit history where can i use my go mastercard online loan lenders for the unemployed use of company credit cards policy lane bryant credit card reviews best fixed rate credit cards 2013 how do i accept credit cards online best credit card reward program in india united airline credit card promotions american express credit card approval process chase credit card 0 apr using credit card abroad barclays credit card payment best buy credit card credit check hdfc credit card loan apply average household credit card debt in canada best secured credit card in india credit card balance transfer instant approval can i pay with 2 credit cards on walmart com walmart credit card status online company credit card policy free prepaid credit card credit builder uk visa card security code number axis bank credit card customer care apply for a credit card online visa credit cards with no international fees square credit card review 2012 natwest platinum credit card rewards unsecured credit loans for bad credit want to apply for credit card online hdfc bank standard chartered credit card promotions malaysia citibank credit card loan review unsecured credit card bad credit ok credit card issuers market share apply credit card online indian bank compare the market cash back credit cards citi american airlines credit card benefits printable visa credit card applications lowest rate mobile credit card processing get a prepaid credit card today reclaim credit card charges 2011 best first credit card for young adults with no credit ed sheeran nandos black card credit card merchant agreement visa want to apply for sbi credit card online best zero percent credit cards 2013 jcpenney credit card pay walmart visa debit card login best high limit credit cards for bad credit fast online payday loans uk secure sleeve credit card protector sentinel credit card loss protection icici online credit card application credit card terminal for iphone paypal bad credit loans online canada pay as you go mobile credit card processing intuit canada credit card processing hdfc credit card apply pc america credit card processing free credit card authorization form pdf chase southwest rapid rewards credit card review cash back mastercard credit cards do all credit cards have ppi instant unsecured credit card approval for poor credit lowes ge credit card address what is the best prepaid credit card to rebuild credit finding lowest rates merchant credit card accounts providers compare icici and citibank credit card actual online payday loan lenders can i apply for sears credit card online natwest business credit card helpline bank of ireland credit card balance transfers westpac visa credit card travel insurance average credit card rates history credit card numbers that work online 2013 public bank manchester united credit card getting a capital one credit card after bankruptcy gas credit cards bad credit shell iphone app for rewards cards mobile credit card machines south africa your access to natwest credit card online services is locked out cash back credit cards canada orchard credit card bank online payday loans direct lenders ohio how to avoid credit card frauds
Home Ballpark Facility News Cost of New Yankee Stadium Rises Sharply

Like Shoot to Thrill - An AC/DC Tribute on Facebook!

An authentic tribute of AC/DC that covers the best of the Bon Scott era and the best of Brian Johnson's material

Who's Online?

We have 727 guests online

Atom RSS

Cost of New Yankee Stadium Rises Sharply PDF Print E-mail
User Rating: / 19
Written by Maury Brown   
Friday, 20 July 2007 01:06
New Yankee Stadium

Taxpayer subsidies for New Yankee Stadium have risen $217 million more than first anticipated, according to a report issued by Good Jobs New York, a nonpartisan group.

With the increase, the total cost to the public is now $617 million. That figure is the amount of tax subsidy in today’s dollars, but will increase over time with inflation. As reported by Reuters:

Some $69 million of this rise stems from a decision by the city's Independent Budget Office to hike its estimate of how much tax revenue the city, state and federal government lost by letting the Yankees sell tax-free stadium bonds. The IBO said it took this step after the civic group questioned its figure.

The latest estimate also includes almost $90 million of city and state funds for a new Metro-North station for the stadium. Good Jobs New York applauded this expenditure because it will encourage mass transit.

The report cites former Mayor Rudolph Giuliani and Mayor Michael Bloomberg for the increase in costs. In the case of Giuliani, his firm, Giuliani Security and Safety, was hired as the stadium security consultant court papers show. He also approved a $21 million reduction in rent that the Yankees will have to pay.

"Public faith in government is eroded when private corporations hire former government officials and use their expertise and influence to evade participatory planning and established economic development principles," Good Jobs New York’s report said.

(See high-resolution renderings of the New Yankee Stadium design)

Select Read More to see the Executive Summary by Good Jobs New York, as well as a link to their report 

Executive Summary

To seize public parklands, win rapid permitting, and land massive taxpayer subsidies for their new stadium in the South Bronx, the New York Yankees hired numerous former public officials and benefited from the actions of a few current elected officials to play insider baseball, shutting out Bronx residents and New York City taxpayers. 

In a secretive, undemocratic process that climaxed in a lightning series of events in June 2005, these past and present officials helped the Yankees seize 22 acres of heavily used public parks and win development subsidies exceeding half a billion dollars.  City municipal records, lobbying declarations, legal documents, project plans and corporate filings reveal that the heavy hitters include:

  • Former Mayor Rudolph Giuliani, who approved millions of dollars in subsidies to the team including a $21 million rent reduction and whose firm, Giuliani Security and Safety, is listed in court documents as a security consultant for the stadium;
  • Randy Levine, former Commissioner of the Office of Labor Relations and then Deputy Mayor for Economic Development under Mayor Giuliani, and now President of the Yankee organization;
  • Roberto Ramirez, former Bronx Assembly Member and Bronx County Democratic Chair and now of the Mirram Group, who reported lobbying his former colleagues on behalf of the Yankees;
  • Stanley Schlein, a Bronx political operative since the Koch Administration, and an attorney for the Bronx Democratic Party who worked for Assembly Member Rivera while also chairing the civil service commission until Mayor Bloomberg refused to reappoint him after public concerns were raised about his conduct as a judicial appointee.

Numerous other former public servants and officials – once responsible for protecting the public treasury – now work at firms whose priority is the Yankees’ pocketbook. For example:

  • Joseph Seymour, former executive director of the Port Authority of New York and New Jersey and now senior vice president at the Community Initiatives Development Corporation (conduit for the garage financing);
  • Bruce Serchuk, a partner at the firm Nixon Peabody (a firm listed in public documents as being retained as bond counsel for both the Yankees and the New York City Industrial Development Agency) and a former senior technical reviewer at the Internal Revenue Service;
  • Howard Safir, Giuliani’s former police commissioner, now of the firm SafirRosetti, is listed in court documents as a security consultant for the project; and
  • Frank Chaney and Melanie Meyers, former officials at the New York City Department of City Planning, now work for the firm Fried, Frank, Harris, Shriver & Jacobson which was paid to lobby the Planning Commission and other agencies on behalf of the Yankees.

Together with others, revolving-door players helped the most valuable sports franchise in America score over half a billion dollars in subsidies. With no public hearings and hurried votes in both Albany and New York City, they also ensured the Yankees could abruptly seize 22 acres of Macombs Dam Park and parts of Mullaly Park, popular recreation places in the poorest Congressional district in the United States and one of New York’s highest asthma-rate neighborhoods.

The new Yankee stadium project undermined democratic planning principles and benefited the Yankee’s profit margin over the employment, recreational and public health needs of the community. Despite the opposition of the local community board and a “no” vote from the City Council member representing the neighborhood around the stadium, the project was rammed through so hurriedly that community members were only allowed to weigh in after major decisions had been made.

Providing subsidies for this project, particularly the massive parking garages that have already received $70 million of state funds, dealt a grave blow to the community’s quality of life.  The tree lined Macombs Dam and Mullaly Parks were heavily used by local residents and children from 20 schools. Today, the construction of the stadium is well underway and the former parks are occupied by cranes and bulldozers. Public officials promised interim parks (temporary open space while the replacement parks are constructed) would be opened shortly after construction began in August 2006 but they became a reality only recently.

The deal grossly violates the Bloomberg Administration’s commendable proposals for sustainable development and reduced greenhouse gas emissions as outlined in PlaNYC2030. By destroying open space and subsidizing fans to attend games by automobile (while ignoring a nearby transit station), the new stadium and its huge new garages will increase traffic in a community already plagued by auto-induced asthma.

Taxpayer subsidies for the project are still flowing: the City is offering to further subsidize thousands of stadium parking spaces on the former park lands by allocating $190 million in civic facility bonds. The IDA has held a public hearing on the garage financing but has yet to vote on the project.

Our findings do not suggest any illegal behavior or conflicts of interest.  But they do reveal a large, costly redevelopment project that was rushed through the public approval process without meaningful participation from the community or clearly defined benefits to residents and taxpayers. Public faith in government is eroded when private corporations hire former government officials and use their expertise and influence to evade participatory planning and established economic development principles

To guarantee there’s no replay of the Yankee Stadium fiasco, Good Jobs New York offers policy options to protect residents’ rights.

Honor Land Use Policies and the Community Boards

New York City has a strong democratic planning process on the books (called the Uniform Land Use Review Procedure or ULURP). It should be embraced, not gamed.

Major decisions on this project (the seizure of the park land, the types of public subsidies offered for example) were privately agreed to by the Yankees and public officials in the project’s Memorandum of Understanding (MOU)--a copy is available at Agreements should not be negotiated without the consultation of the local community board and until details of proposals are made available and mandated public hearings are held.

Disclose the Revolving Door

Just as elected officials must reveal the companies or partnerships from which they receive income in financial disclosure statements, developers seeking land use approvals or development subsidies should be required to disclose in applications the names of all former government officials involved in the project (either as direct employees or as consultants or lobbyists), including their public and private positions and dates of public service.

Extend the Cooling-Off Period

To reduce the revolving-door influence problem, the City should extend to three years the time period which former elected officials and agency personnel must wait after leaving office before they can work as lobbyists or with firms involved directly on projects involving their public-sector jobs. Currently, the City’s conflict of interest law has loopholes permitting public officials to immediately go to work at firms that do business with the city. 

Scratch the Parking Garages

City and state officials should act on their stated city-wide commitment to fund public transportation as an alternative to driving. Recently officials pledged funds to build a Metro North train station near the Yankee stadium. With an estimated 10,000 fans per game choosing Metro North to get to games, the number of proposed parking spaces can be substantially cut back and park land restored.

PDF Full Report by Good Jobs New York (PDF)



Should MLB Force Jeffery Loria to Sell the Marlins?