THE BRONX - Some Bronx residents are questioning the possible use of tax-free bonds to fund new parking structures for the new Yankee Stadium.
Critics of the project addressed the Industrial Development Agency (IDA) with their concerns regarding the construction. The IDA is facing a vote on whether to fund the parking garages with triple tax-exempt bonds. If subsidizing is approved, the Bronx will not see any tax income from the construction.
Residents living near the site of the stadium have already been complaining about a lack of recreational space and pollution, according to Save Our Parks. Other opponents to the project believe the tax dollars should be spent on increased subway lines to promote use of public transportation to the ballgames.
News 12 The Bronx received no reply from IDA officials regarding how the construction can be considered a non-profit subsidized project.