N.Y.C. Agency to Sell Up to $65 Million for Tennis Center

McDonald, Michael
April 2003
Bond Buyer;4/9/2003, Vol. 344 Issue 31611, p32
Trade Publication
In a deal that could be priced in the next few weeks, the New York City Industrial Development Agency approved selling up to $65 million in civic facility revenue bonds for the United States Tennis Association's (USTA) National Tennis Center in Queens. New York City owns the grounds of the 46-acre tennis center in Flushing Meadows-Corona Park and leases them long-term to the USTA National Tennis Center Inc. The USTA, a not-for-profit corporation based in White Plains, New York, owns and operates the tennis facilities, which are open to the public, and makes approximately $400,000 a year in lease payments to the city. In another bond deal, the IDA, a city agency administered by the New York City Economic Development Corp. approved selling up to $50 million in tax-exempt revenue bonds for JetBlue Airways Corp., which is expanding at John F. Kennedy International Airport, which is also in Queens.


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