The Internal Revenue Service has ruled in favor of the Mets‘ and Yankees‘ tax-exempt bond plan to finance new stadiums. (See my previous Village Voice online article for why there’s good reason to believe this is illegal.) This eliminates the final government hurdle for the twin $2 billion stadium deals, and while neither team has announced a groundbreaking date, it can’t be far away.
Unless a planned lawsuit by Bronx residents is successful in getting a court injunction against the construction – environmental lawyer Antonia Bryson, who’s representing the group, calls it “one of clearest environmental justice issues I’ve ever seen” – it looks likely that the century-old Macombs Dam Park will be demolished in coming months to make way for a new stadium, with Yankee Stadium and Shea Stadium to follow in the winter of 2008-09.
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