CitizenVectron Posted November 16, 2022 Share Posted November 16, 2022 NYC Reaches Deal to Build Soccer Stadium in Queens - The New York Times WWW.NYTIMES.COM The New York City Football Club will pay roughly $780 million to build the stadium in Willets Point in Queens as part of a project that will include housing and a hotel. Frankly, that's incredible considering the price tag. Looks like the only public money will be for public infrastructure as well as some tax breaks on the land. Otherwise, it's private money: Quote The soccer team will pay for the entire construction of the stadium, which is estimated to cost $780 million, city officials said. Neither tax-exempt bond financing nor direct city capital infusions will be used, according to Andrew Kimball, the president of the New York City Economic Development Corporation. The developers are not getting abatements on mortgage recording or sales taxes, he said. But the stadium owners will not have to pay real estate taxes for the duration of the lease. Personally, I'd prefer no tax subsidies at all, but this is far, far better than most stadiums of this size (which typically receive 50%+ financing from public coffers). Quote Link to comment Share on other sites More sharing options...
Zaku3 Posted November 16, 2022 Share Posted November 16, 2022 1 minute ago, CitizenVectron said: NYC Reaches Deal to Build Soccer Stadium in Queens - The New York Times WWW.NYTIMES.COM The New York City Football Club will pay roughly $780 million to build the stadium in Willets Point in Queens as part of a project that will include housing and a hotel. Frankly, that's incredible considering the price tag. Looks like the only public money will be for public infrastructure as well as some tax breaks on the land. Otherwise, it's private money: Personally, I'd prefer no tax subsidies at all, but this is far, far better than most stadiums of this size (which typically receive 50%+ financing from public coffers). NYCFC is owned by the Yankees and City Football Group. So sports washing/diversifing their portfolio. Quote Link to comment Share on other sites More sharing options...
Bloodporne Posted November 16, 2022 Share Posted November 16, 2022 Ah Willets Point, the unholy asshole of Queens! Quote Link to comment Share on other sites More sharing options...
Keyser_Soze Posted November 16, 2022 Share Posted November 16, 2022 If only they did it for a sport people cared about Quote Link to comment Share on other sites More sharing options...
Brian Posted November 16, 2022 Share Posted November 16, 2022 7 minutes ago, Keyser_Soze said: If only they did it for a sport people cared about Honestly, not being liked by Americans is the best thing going for it. 1 1 Quote Link to comment Share on other sites More sharing options...
69los Posted November 16, 2022 Share Posted November 16, 2022 29 minutes ago, Keyser_Soze said: If only they did it for a sport people cared about I believe MLS attendance has actually been pretty decent and on the rise recently. NYCFC currently plays in Yankee Stadium so it'd make sense for the Yankees Group to get them out of there. Quote Link to comment Share on other sites More sharing options...
Zaku3 Posted November 16, 2022 Share Posted November 16, 2022 5 minutes ago, 69los said: I believe MLS attendance has actually been pretty decent and on the rise recently. NYCFC currently plays in Yankee Stadium so it'd make sense for the Yankees Group to get them out of there. They gave up on that and currently play at Red Bulls Arena. 1 Quote Link to comment Share on other sites More sharing options...
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