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Our reader says:
“I am beginning to think that we were Bamboozled by the Bronx Borough President who gave our parkland to the Yankee Organization.”
The new Yankee Stadium, with a 2009 target date, is being built near the old one in the Bronx.
Building Yankee Stadium But High & Dry On Funds
Several years ago, as the Yankees negotiated to build a new stadium in the South Bronx, the neighborhood faced the realities of a massive construction project in its midst: parks would be closed and moved, traffic would be horrendous, life would be, for a while, a hassle.
So, as one way to make up for these inconveniences, the Yankees and elected officials signed a community benefits agreement. It required that the team would give roughly $1.2 million a year, starting when the work began, to various community groups through a special panel. The deal was similar to agreements in other major projects, like Atlantic Yards in Brooklyn and Columbia University’s expansion into Harlem.
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