Not so fast, say Assemblymembers Richard Brodsky and Jim Brennan, who chair the Committee on Cities and the Committee on Corporations, Authorities and Commissions respectively. They've scheduled a hearing January 14 "in the face of the refusal by the City to postpone a final decision until a full understanding of the law and the facts could be brought forward."
(Update: Location is 250 Broadway, at 10 a.m. It looks like city officials won't make it.)
"The City's attempt to ram through this complicated project without disclosure of its implications is not acceptable as the Legislature considers what changes in State law it ought to be making," Brodsky said.
"I'm concerned about the consequences of diverting property tax revenue to repay these bonds for such a lengthy period of time for the benefit of a wealthy company," Brennan said.
(Would they say the same about a similar request for the Atlantic Yards arena?)
Witnesses invited include representatives of the Yankees, the New York City Economic Development Corporation, the IDA, and the Finance Department, including the assessor responsible for the curious increase in the rise in assessed land value for Yankee Stadium.