Stadiums get more tax-free bonds

The Yankees and Mets received
approval for $342 million in tax-free bonds for their new stadiums. The
Industrial Development Agency voted almost unanimously in favor of the
$259 million in tax-exempt bonds for the Yankees and $83 million for
the Mets. Comptroller William Thompson was the only IDA member who
voted against the bonds. The city Independent Budget Office, which Thompson oversees, said on
Wednesday that the new stadiums were costing the city, state and
federal government about $1.2 billion in tax breaks and subsidies. Meanwhile, the Yankees recently hired Prudential Douglas Elliman to help sell the remaining premium seats and luxury boxes.