The Real Deal New York

Report says Yankee Stadium deal unfair to taxpayers

September 16, 2008 12:36PM

The new Yankee Stadium received up to $850 million in taxpayer investments, but will create only 15 permanent jobs, according to Assemblyman Richard Brodsky’s 30-page report, “House That You Built,” released today. The report says the city’s Industrial Development Agency may have violated a law in creating massive amounts of public debt, and failing to assure public benefits from the investment. The Yankees got $336 million from the city and state, and up to $500 million in interest savings on IRS-approved tax-exempt bonds, according to the report.

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