Congress To Evaluate Land Appraisals For New Yankee Stadium
 |
Yankees President Randy Levine Expected To
Testify In DC Oct. 24 About Land Appraisals |
A Congressional panel has scheduled a hearing in DC on October 24 to "determine whether appraisals of the Bronx property on which the new Yankee Stadium is being built were manipulated by the city," according to Michael Frazier of NEWSDAY. The land appraisals "will be reviewed during an Oct. 24 hearing of the Domestic Policy Subcommittee of the House Oversight and Government Reform Committee," which is Chaired by U.S. Rep. Dennis Kucinich (D-OH). The "discrepancies between the appraisals are reflected in reports submitted to the IRS." One report listed the land as "worth $275 per square foot, while the other had it at $45 per square foot." Yankees officials "originally were scheduled to testify before the subcommittee on Oct. 7, but the hearing was postponed." Yankees President Randy Levine and N.Y. Economic Development Corp. President Seth Pinsky "are expected to testify" (NEWSDAY, 10/16). Kucinich said that the city of N.Y. "provided a 'possibly inaccurate tax assessment' to justify hundreds of millions of dollars in tax-exempt bonds" for the ballpark. Investigators said that the city "might have improperly included $500[M] in construction costs in its assessment." Kucinich added that if the N.Y. Department of Finance "based its findings on inaccurate valuations of the stadium, 'there would be a violation of New York State Law'" (N.Y. DAILY NEWS, 10/16).
|
Related Stories By Company
|
Related Stories By Sport
|
MasterCard Present At WS DVD Premiere
November 20, 2009 :
SportsBusiness Daily
MLB Free Agent Market Expected To Be Slow
November 19, 2009 :
SportsBusiness Daily
SMT Conference: MLB In-Market Streaming
November 13, 2009 :
SportsBusiness Daily
MLB Hot Market On Pace To Be Second Largest
November 10, 2009 :
SportsBusiness Daily
Bob DuPuy Touts MLB Competitive Balance
November 10, 2009 :
SportsBusiness Daily
|
Boras, Manfred Talk About Finances Escalate
November 20, 2009 :
SportsBusiness Daily
Selig: Concerns Around Economy Still Exist
November 20, 2009 :
SportsBusiness Daily
MasterCard Present At WS DVD Premiere
November 20, 2009 :
SportsBusiness Daily
Hicks Hopes To Remain Rangers Majority Owner
November 19, 2009 :
SportsBusiness Daily
Selig Committed To Condensing Playoffs
November 19, 2009 :
SportsBusiness Daily
|
|
