New York City Comptroller Bill Thompson holds a news conference on January 13, 2009 accusing the Mayor and the New York Industrial Development Agency (IDA) of financial incompetence during their ne...
New York City Comptroller Bill Thompson holds a news conference on January 13, 2009 accusing the Mayor and the New York Industrial Development Agency (IDA) of financial incompetence during their negotiations for a new Yankee Stadium, a process that has grown astronomically in costs. Faulty cost estimates and lost revenue opportunities have caused the citys capital contribution for the stadium to balloon to more than twice what was agreed upon in 2006. Thompson called for a postponement of the IDA Boards vote this week on the issuance of $371.8 million in new bonds for the project until the city can negotiate a better deal.
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