Today’s Headlines

  • 9000 spot BX garage

    Please Add:

    Developer Seeks Funds for Parking Garage Near Yankee Stadium
    WNYC Newsroom

    NEW YORK, NY April 05, 2007 —A Bronx developer is seeking $190 million in tax-exempt bonds from the city to build parking garages near Yankee Stadium.

    REPORTER: The group, the Bronx Community Initiatives Development Company wants to create more than 9,000 parking spaces near the new stadium scheduled to open in 2009. But at a public hearing today, Bronx activist Joyce Hogi testified that the garages are for seasonal use and would be a money-losing enterprise which wouldn’t benefit the community.

    HOGI: I wouldn’t put a dime in it and no self-respecting businessman would but we can hit up the taxpayer let’s get them to do it and that’s what’s happening….

    REPORTER: However, the company’s proposal states that the garages would generate $57 million in tax revenues for the city. Also, officials state that garages will eventually be in demand year-around because of other economic development projects that are being planned.