Kucinich Investigates Accuracy of Valuations for the New Yankee Stadium Made to Federal Agencies and Investors

Chairman Dennis J. Kucinich sent letters to the New York Yankees and various federal and city authorities requesting documents concerning the tax-exempt financing of the new stadium for the New York Yankees. The Subcommittee is investigating the accuracy of representations made to federal agencies and bond investors about the property value of the land and buildings in the stadium construction project. Recipients of the latest document request letter include: the New York Yankees, the New York City Department of Finance, New York City Economic Development Corporation, Internal Revenue Service, and National Park Service.