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Friday, October 26, 2018

Yankees asking owes the city money



Now, the Yankees don’t have a stake in the parking, supposedly. Let’s see what the NY Post has to say about this.
The city is owed more than $100 million in unpaid rent, taxes and interest on parking lots at Yankee Stadium constructed nearly a decade ago — with no payment in sight, documents show.

Bronx Parking Development Corp., which runs the facilities, has lost at least $28 million a year in each of the past three years because not enough Yankee fans are willing to pay as much as $45 to park there for a single game.

The firm owed the city’s Economic Development Corp. $45.2 million in unpaid rent and interest as of March 31, and $56 million in unpaid taxes and interest, records show.

“It was definitely a boondoggle from a former administration, but what now?” said Geoffrey Croft, president of NYC Park Advocates, who has been monitoring the deal because it displaced acres of Bronx parkland. “At some point, the city needs to take responsibility for this horrible deal because the bill keeps going up.”
I do think the Yankees said they needed all these parking spots and that’s why the park was relocated on top of one of these structures.
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