Thumbs Up For Ballpark PILOT Deals

Cataldo, Adam L.; Kaske, Michelle
July 2006
Bond Buyer;7/20/2006, Vol. 357 Issue 32427, p1
Trade Publication
The article reports on the approval of the U.S. Internal Revenue Service of about $1.44 billion of tax-exempt bonds of the New York City Industrial Development Agency. Proceeds of the bonds will be used to help finance the construction of two baseball stadiums for the Yankees and Mets. Bonds for both projects will be backed by payments instead of taxes or PILOTs, a structure approved by the City Council.


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