Thursday, September 18, 2008

The House That Mike Built

The CFE lawsuit, which I long hoped might bring some help to city kids in the form of reasonably sized classes has been diced, sliced, and absorbed by Tweed. They took the money and failed to deliver.

Meanwhile, the important Yankee Stadium project, which was not under Tweed's nickel and dime dictatorship, appears to be costing taxpayers a pretty penny indeed. Some upstarts are beginning to wonder out loud whether or not it's a good idea, in these times, to subsidize wealthy teamowners. Mayor Bloomberg, however, thinks it's "a great project."

Here are a few of the charges:

_The city manipulated the assessed value of the stadium to meet requirements for an IRS tax exemption. That included using comparable land values in Manhattan rather than the Bronx to come up with the value for the new property.

_City officials didn't disclose their purchase of a luxury box and extra game tickets and apparently there is no city policy on their use.

_The $366 million in additional funding sought by the Yankees to complete the stadium would be for a large video screen, not structural costs.

Children First? Give me a break. For them we have trailers and closets.

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