Yankees, Mets Beat the IRS

Following up on The Politicker’s tip that the Mets-Yankees bond issues won The Bond Buyer‘s deal of the year award at a black-tie gala on Tuesday night, we called up the editor-in-chief, Nicholas Chesla, to ask why.

There seemed to be a demonstrated degree of cooperation among different levels of government in these Read More

IRS Haunts Stadium Deals

The IRS is planning to revisit the financing scheme behind the new Yankees and Mets stadiums because, according to sources cited by The Bond Buyer, the arrangements looked “too much like a private loan.” The feds approved those deals earlier this year, concluding that the payments in lieu of taxes that the sports teams Read More

Q&A with Marty Connor

[UPDATE: In the time since this interview was first posted, an Appellate Court has upheld the decision to allow Ken Diamondstone to remain on the ballot against Marty Connor.]

Now that his initial legal challenge to Ken Diamonstone’s place on the ballot has been rejected, State Senator Marty Connor is waiting for an Read More

BUILDing Blocks

The Real Estate got a copy of the instructions for the old form that BUILD filed with the IRS last year, and they read pretty much like the new ones. An applicant is only supposed to list grants it has received—or been pledged, if it is using the accrual method of accounting—in trying Read More

A Cool $5 Million


For a long time now, opponents of Forest City Ratner’s Atlantic Yards project said that a grassroots group supporting it, BUILD, was astroturf.

BUILD, which was formed for the express purpose of supporting Atlantic Yards, helped create a community benefits agreement, signed in June, that spelled out how many jobs and affordable apartments Read More

Eleventh-Hour Inspiration

In the rush to get things done, the Empire State Development Corporation gave “final authorization” to $1.65 billion in low interest Liberty Bonds for the Goldman Sachs headquarters near Ground Zero on Aug. 15. Now, in the enviable way that our state government works, it is time for the public hearing, scheduled for Read More