Mets, Yanks stadium subsidies top $1.25 billion
August 10, 2007
“Field of Schemes has obtained new figures from the New York City Independent Budget Office (I’m sure they’ll give them to anyone, but I asked) on the cost to taxpayers of publicly subsidized tax-exempt bonds for the new Yankees and Mets stadiums. The verdict: The $930 million in Yankees stadium bonds will cost the city $10 million in lost tax revenue, the state $18 million, and federal taxpayers a whopping $200 million; for the Mets’ $528 million in tax-exempt bonds, the figures are $6 million city, $10 million state, and $115 federal.” . . . | more
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