Thursday, October 08, 2009

Thompson claims major development projects require cost-benefit analyses, but ignores Atlantic Yards

From Democratic Mayoral nominee Bill Thompson's speech yesterday on the economy:
Enormous staff resources and time were wasted planning a West Side Jets Stadium that was never built. Huge subsidies went to the New York Yankees for a stadium project with little local economic impact.

As Mayor, I will require that decisions to invest taxpayer dollars in major development projects undergo rigorous cost, jobs, and community-benefit analyses.


Mayor Mike Bloomberg's campaign responded that Thompson "flip-flopped"--as opposed to, maybe, changed his mind--on Yankee Stadium.

Thompson ignored the Independent Budget Office's analysis that the Atlantic Yards arena would be a money-loser for the city.

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