Plans for new Yankee stadium appear to clear another hurdle
? Plans for a new Yankee stadium in the Bronx has one city agency excited, while the City Council is stalling a decision on the issue.
The Industrial Development Association (IDA) held a hearing Thursday to evaluate whether to issue $9 to $30 million in bonds to the team to construct the stadium. The taxpayer-backed bonds would be a loan, which the Yankees would have to repay. Bronx resident Margaret Collins is against the proposal, which she says characterizes corruption and ?environmental racism.? Supporters like D. Lee Ezell feel the stadium represents ?unprecedented opportunity for the community.? Spectators at Thursday?s meeting say the IDA appears to agree that the stadium?s benefits would outweigh the negatives.
The IDA will vote on whether to issue the bonds on March 14. The City Council, which has delayed its hearing, has until April 5 to evaluate the proposal.
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