Wednesday, January 28th, 2009
All You Need To Know
With costs ballooning to replace two Bronx parks that were bulldozed for the new Yankee Stadium — the latest estimate is almost $195 million — the city’s Independent Budget Office said on Tuesday that more than $16 million of the higher expense “remains to be explained.”
The latest cost is almost $79 million over the 2005 estimate of $116 million, which itself was considerably more than the $96 million figure based on “conceptual designs” in an environmental impact statement using 2004 dollars.
The Yankees will be using their new $1.3 billion ballpark for opening day in April, but Little Leaguers, tennis players and picnickers are unlikely to have access to all eight replacement parks until the end of 2011, a year later than promised, the budget office said in a report.
