Hearings Planned To Tackle Yankees Financing Plea
An assemblyman, a frequent critic of New York’s public authorities, said yesterday that he plans hearings on the Yankees’ request for additional public financing to complete the new Yankee Stadium in the Bronx.
Assemb. Richard Brodsky (D-Hartsdale) said that hearings could be held within “a couple of weeks.”
Brodsky is chairman of the Standing Committee on Corporations, Authorities and Commissions, which oversees the state’s public authorities. Last year, he co-sponsored legislation that would require the state’s authorities to submit contracts for review to the comptroller, limit borrowing and seek legislative approval before creating subsidiaries.
“What’s at stake here is a much bigger issue than whether you like or dislike the Yankee Stadium deal,” Brodsky said. “Stadiums [are] soaking a lot of the tax-exempt financing, and we can’t fund the capital plan of the MTA and we’re short capital money on schools and hospitals.”
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