Yankees a step closer to building new stadium in the Bronx

The Yankees may be a step closer to building a new stadium in the Bronx.

According to the Daily News, the city?s Industrial Development Agency gave preliminary approval to the Yankees in their bid for $930 million in bonds. The Yankees would use the bonds, issued by the city, to help build their new ballpark. The team would have to pay back the money to the city.

Opponents of the new stadium plan feel the Yankees don?t need city assistance. They add the construction will jeopardize the air quality in the area. Opponents are also concerned about the destruction of parks to build the stadium. Those in favor of the new ballpark insist it will help create more jobs in the area.

The City Council still has to give its approval to the bonds.

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