Our most recent fact sheet shows that the Yankees inundated public officials’ campaign coffers with contributions — $50,000 to the Bronx Democratic County Committee alone from 2005 to 2010.
The payoff: Highly lucrative subsidy deals for the new stadium.
Today, it’s more clear than ever that the deals hurt regular New Yorkers:
- The enormous Yankees parking garages — which the team demanded as part of the stadium deal — have shed six jobs rather than create 55 new jobs.
- The Bronx Parking Development Co., which built and manages the garages, is likely to default on tax-exempt bonds. Private shareholders will be on the hook, but the public may shoulder maintenance costs and the construction of any new buildings.
- Only three public ball fields replace the five that Bronx residents could use before the Yankees took over their parkland, and players lost six seasons before they opened. Pick-up games will be heavily restricted. No additional dedicated funding has been allocated for the maintenance of the replacement park facilities.