'Soviet-Style' Tactics Said To Be Used To Help Yanks
By Peter Kiefer

...Bettina Damiani, a project director at a government watchdog group, Good Jobs New York, questions why the city would seek a break from Washington on sports stadium projects when there are so many other pressing infrastructure problems in the city that need additional financing.

"Doesn't the mayor have better things to do than be asking Washington for money to help the Yankees?" she said.

The writer of the book "Field of Schemes," Neil deMause, says the accounting trick used for the Yankees and Mets stadiums counters the intent of the 1986 Tax Reform Act. "At a certain point, this is a huge way for the cities to raid the federal treasury, and let everybody borrow tax exempt money," he said.
...

While in Washington yesterday, Mayor Bloomberg was asked about the possibility of additional subsidies for Yankee Stadium.

"With the current regulations, we couldn't give out any more interest-subsidized bonds. So it's an interesting thing. We'll talk to them certainly, as we'd talk to anyone building anything large in the city. But I think it's premature. We would like to see them do it without any more assistance, and whether they can do that or not, I don't know," he said

Contrary to the Mayor's feigned innocence, NYCEDC VP for Public Affaris Janel Patterson sent out a press release yesterday that included the following regarding the attempt to open the IRS loophole for Ratner and Steinbrenner:

This is a critical economic development tool and our efforts in Washington are not in any way driven solely by the Yankees. In fact, this relief is also crucial for, among other things, the Nets' new stadium.