Truth & Rumors > MLB

Did NYC help inflate Yankees' deal?

Views
9402
Comments
33

06:18 AM ET 12.17 | Mayor Bloomberg's aides secretly pressured city tax assessors to inflate the value of land under the new Yankee Stadium so the team could qualify for nearly $1 billion in tax-free bonds, city e-mails show. In March 2006, the city's chief tax assessor put the market value for the stadium site at $27 million, far lower than the Yankees wanted. A Finance Department official ordered him to redo the report. Within hours, he jacked up it up to $204 million. The bombshell e-mails raise a big question: Did city officials violate state law, which requires uniform valuation methods for all properties? "This is the smoking gun," said Assemblyman Richard Brodsky, who has spearheaded a state probe into the stadium deal. "The professionals did their job. The political appointees then ordered them to change the assessment - and they did." Bloomberg aides have told a state Assembly committee and a House of Representatives subcommittee they did nothing improper.

New York Daily News

Yankee Stadium, Chris McGrath/Getty Images Yankee Stadium, Chris McGrath/Getty Images

Comment

Remember to keep your posts clean. Profanity will get filtered, and offensive comments will be removed.


Truth & Rumors

MOST POPULAR

  1. 1
    Howard aired D'Antoni grievances with Lakers
    Views
    33257
    Comments
    1797
  2. 2
    Stunned Cavs open to dealing top pick
    Views
    4487
    Comments
    1077
  3. 3
    'Alarming' report on Werth
    Views
    19180
    Comments
    652
  4. 4
    Duquette's luck running out
    Views
    1277
    Comments
    513
  5. 5
    Babcock's best job ever?
    Views
    2349
    Comments
    110

SI.com

Swimsuit

SI Photos