TITLE

N.Y.C. Ballpark PILOTs Look, Act Like Taxes

AUTHOR(S)
Whalen, Robert; Cataldo, Adam L.
PUB. DATE
August 2006
SOURCE
Bond Buyer;8/7/2006, Vol. 358 Issue 32439, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the U.S. Internal Revenue Service (IRS) has approved the New York City Industrial Development Agency's planned structure to finance a pair of ballparks with up to $1.4 billion of tax-exempt debt. According to the article, the agency will sell bonds supported by payments in lieu of taxes (PILOT) to help New York Mets and the New York Yankees finance new facilities in Queens and the Bronx.
ACCESSION #
21888593

 

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