New Yankee Stadium could cost public $500M

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The new Yankee Stadium could end up costing taxpayers nearly $500 million, according to a report entitled “Loot, Loot, Loot for the Home Team” by government watchdog group Good Jobs New York. The baseball franchise has agreed to pay the estimated $800 million needed for the stadium’s constriction, but would not have to pay rent, property taxes, mortgage recording taxes, or sales taxes on construction materials. Thus, the costs to taxpayers, according to the report. more [Crain’s]