Field of Schemes
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January 16, 2009

Yanks, Mets get their moolah

Just got word that the New York Yankees' and Mets' $342 million in new tax-free bonds (plus around $30 million in additional tax exemptions) have been approved by the city Industrial Development Agency board. Comptroller William Thompson, as promised, voted against the Yankees bonds; Queens Borough President Helen Marshall's representative abstained on the Yankees portion; and the Mets portion was approved unanimously by the 15-member board.

The $1.8 billion total subsidy figure, then, stands. Unless the Yankees decide they need even fancier bathrooms.

UPDATE: Allison Lack of Good Jobs New York sends word that representatives of the Yankees and Mets were both given time to speak at today's board meeting, even though the time for testimony was supposed to be yesterday's public hearing. Writes Lack: "At all the IDA board meetings Good Jobs New York has attended over the years, never before have we seen project applicants speak in favor of their projects during these meetings."

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