IDA approves financing for Mets/Yankees construction. Real Estate Weekly | July 19, 2006 | COPYRIGHT 2006 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information) Copyright

New York City Industrial Development Agency (IDA) last week granted final approval for financing assistance for the New York Yankees and New York Mets to allow for the construction of new, state-of-the-art stadiums adjacent to each existing ballpark. The projects will bring more than $1.5 billion in private investment to the South Bronx and Flushing, Queens and relieve the City from maintenance and capital repair costs that would likely have exceeded rent payments at the existing stadiums by more than $113 million over the next 40 years. The issuance of the tax -exempt bonds ...

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