South Bronx Develops Into Yankee Stadium Parking Lot

Yesterday’s City Limits article on Yankee Stadium parking contains a link to an interactive Google map, developed by author Mathilde Piard, of the stadium site and its surroundings. Users can click on the shaded areas for descriptions of each parking garage or surface lot, including how many cars it can hold and when it will be used.

Be sure to click on Garage A, formerly known as what was left of Macombs Dam Park, for the $237 million subsidy and free police parking feature.

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Yankee Stadium Parking Boondoggle Getting Worse Every Day

By Ben Fried |
The subsidy for the new Yankee Stadium’s 9,000 parking spaces keeps turning into a worse deal for New York City taxpayers. Juan Gonzalez reports in the Daily News that the garage operator is deep in the red, even after last year’s extended championship season: As of this month, Bronx Parking Development LLC owes the city […]

City Approves Subsidized Yankee Stadium Parking

By Brad Aaron |
Yes, the Yankees’ season is over. But on the bright side, this morning the city handed the team a nice consolation prize: $225 million in tax exempt bonds for parking deck construction at the new Yankee Stadium. Under the agreement, the city will give up some $2.5 million in taxes, with an estimated $5 million […]

Anybody Interested in Tearing Down a Couple of Yankee Stadium Garages?

By Brad Aaron |
Another attempt to salvage something positive from the Yankee Stadium parking boondoggle is underway. The company that operates the garages, having defaulted on hundreds of millions in triple-tax exempt bonds, has issued a request for proposals for the sublease and redevelopment of two lots. Even back in 2007 and 2008, when the NYC Economic Development Corporation […]

Vote Postponed on Yankees Parking Subsidy

By Brad Aaron |
In an unusual move, the board of the New York City Industrial Development Agency (IDA) this morning postponed a vote on whether to issue tax-free bonds for parking facilities at the new Yankee Stadium. At a hearing last week, residents of the South Bronx, along with public advocates, protested the $225 million triple tax exempt […]

For Bloomberg, No Lessons Learned From Yankee Parking Subsidies

By Brad Aaron |
If Mayor Bloomberg regrets his administration’s involvement in the Yankee Stadium parking disaster, he’s not letting on. The Bronx Parking Development Company has finally defaulted on $237 million in triple-tax exempt bonds used to finance parking garages for the new stadium, and bondholders are looking for a way to recoup their losses. “There just wasn’t […]