The Daily News is doing a great job keeping an eye on what’s happening in the Bronx.
First, the jobs. The Yankees are moving across the street. Does anyone really believe that 1,000 new permanent jobs will be created?
Darn, I wish I had written that.
There wouldn’t be a need to spend hundreds of millions of tax dollars to build new parks if elected officials hadn’t secretly given Macombs Dam Park and part of Mullaly Park away to the baseball team. Contrary to the city’s claim that the project expands park space, the community is losing four acres.
During troubled economic times such as these, news that a project will bring in new tax revenue is positive. But Pinsky failed to explain the other side of the balance sheet: $180 million in breaks on property tax and other taxes; nearly $300 million in capital costs to replace the parks and demolish the old Yankee Stadium, and nearly $1 billion in tax-free financing.
All together, city taxpayers are chipping in nearly $500 million for the project, and costs are growing.
