Trying to build on his legacy, Mayor Giuliani announced yesterday what he called a dream deal - plans for building new domed ballparks for the Yankees and Mets.The self-proclaimed No. 1 Yankee fan argued it was imperative to move ahead now to prove the terror attacks haven't deterred the city, especially when the clubs are picking up half the $1.6 billion construction tab under 35-year leases.
The cost to the city would be $800 million and the city's debt payments would be about $50 million a year. ... Bonds would be issued to raise the $1.6 billion, with debt service delayed until the ballparks open in 2006 and 2007.
"From a budget point of view, this is a very, very good deal for the city," the mayor insisted. "You can't underestimate the effect on civic pride and the economy of the city."
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The terms of the deals provide the city 4 percent of gate receipts and 35 percent of net revenues for non-baseball events. The ballclubs would bear all operating costs, which are now the responsibility of the city. The city would issue tax-exempt construction bonds to cover the construction costs.
Under the proposal, the state also would pick up a $150 million tab for infrastructure improvement around Yankee Stadium - including parking and a new Metro-North station in the South Bronx, the mayor said.
The outgoing mayor insisted the stadium deal would pay for itself. Giuliani said the stadium proposals would not create any new taxes as the city rebuilds lower Manhattan and battles a faltering economy. Giuliani claimed both of the city-owned ballparks are in such bad shape that they're "imperiling the lives of people" and "can't be fixed." (snip)
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Well, calcowgirl - what’s a half billion or even a billion dollars of taxpayer money between friends? After all, Rudy911 loves the Yankees and thinks they should get taxpayer money so his team can play in an improved stadium. And we all know that Rudy911 is a pro at deciding what’s best for us on our behalf. Rudy911 doesn’t like guns in his city, so he takes them away - for our own good, you know! Thank goodness Rudy911 is there to make the decisions on our behalf,........phew! Could you imagine his baseball team having to try and compete without taxpayer dollars?! I mean, isn’t a king entitled to spend from the coffers on luxuries he personally likes? What’s your problem, calcowgirl?!?!?