ASSEMBLY STANDING COMMITTEE ON CORPORATIONS, AUTHORITIES AND COMMISSIONS
ASSEMBLY STANDING COMMITTEE ON CITIES

NOTICE OF PUBLIC HEARING

The NYC IDA is the financing branch of the NYC EDC that provides assistance to businesses and companies operating in the five boroughs of New York City through tax-exempt bond financing. In 2006, the NYC IDA approved the issuance of $920 million in tax-exempt bonds to the New York Yankees for the construction of a new Yankee Stadium in the borough of the Bronx. The issuance of these bonds was made possible when the Internal Revenue Service (IRS) waived regulations that prohibit the use of public financing for sports facilities.

A series of policy and legal questions have been raised about the NYC IDA and other government agencies using public financing to construct a new Yankee Stadium. This hearing will allow the Committees to explore these issues as they relate to public funds and the operation of IDAs and other authorities.

Ten copies of any prepared testimony should be submitted at the hearing registration desk. The Committees would appreciate advance receipt of prepared statements.

In order to further publicize these hearings, please inform interested parties and organizations of the Committees' interest in considering testimony from all sources.

In order to meet the needs of those who may have a disability, the Assembly, in accordance with its policy of non-discrimination on the basis of disability, as well as the 1990 Americans with Disabilities Act (ADA), has made its facilities and services available to all individuals with disabilities. For individuals with disabilities, accommodations will be provided, upon reasonable request, to afford such individuals access and admission to Assembly facilities and activities.

I plan to attend the public hearing on utilizing public financing for construction of a new Yankee Stadium to be held by the Assembly Standing Committees on Corporations, Authorities and Commissions and Cities.

I have been invited to make a public statement at the hearing. I will answer any questions that may arise. I will provide 10 copies of my prepared statement.

I would like to be added to the Committee's mailing list for notices and reports.

I would like to be removed from the Committee's mailing list.

I will require assistance and/or handicapped accessibility information. Please specify the type of assistance required:

---

---