db44
Jul 30th, 2004, 07:04 AM
NEW YORK (AP) _ A report in Crain's New York Business says the New York Yankees want to build a new, $750 (M) million dollar stadium across the street from Yankee Stadium.
Citing anonymous sources close to the deal, Crain's reports that the Yankees plan to announce their intentions within the next two weeks.
Team president Randy Levine says the Yankees are continuing the planning of a new stadium and that there's no date scheduled for any announcement.
Crain's reports that the team will ask for $450 million in public infrastructure investment to build a hotel and conference center, improve and increase public transportation to the area and build three new parks elsewhere in the Bronx.
Under state law, the team must replace the parkland it uses.
The team will likely seek to finance the facility by issuing tax-exempt Industrial Development Authority bonds and, sources told Crain's, that revenue from the new stadium would more than pay off the bonds.
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I need to see the designs before I have an opinion on this. It has to be close to heavenly if I'm gonna like it, and they have to save some parts of our current shrine.
Citing anonymous sources close to the deal, Crain's reports that the Yankees plan to announce their intentions within the next two weeks.
Team president Randy Levine says the Yankees are continuing the planning of a new stadium and that there's no date scheduled for any announcement.
Crain's reports that the team will ask for $450 million in public infrastructure investment to build a hotel and conference center, improve and increase public transportation to the area and build three new parks elsewhere in the Bronx.
Under state law, the team must replace the parkland it uses.
The team will likely seek to finance the facility by issuing tax-exempt Industrial Development Authority bonds and, sources told Crain's, that revenue from the new stadium would more than pay off the bonds.
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I need to see the designs before I have an opinion on this. It has to be close to heavenly if I'm gonna like it, and they have to save some parts of our current shrine.