Back when New Yankee Stadium was built, the team demanded that the city build parking garages to house 9,000 cars. Never mind that the ballpark is right next to a train station.
But the city agreed, issuing tax-exempt bonds to cover the costs plus subsidizing the garages to the tune of $100 million on top of that. Now those bonds are likely going into default, reports the New York Daily News:
Bronx Parking Development LLC failed to make a $6.9 million payment due April 1 on more than $237 million in tax-exempt bonds arranged by the Bloomberg administration back in 2007.
The group, which is not connected to the Yankees, thus fell into one of the biggest defaults of a New York City-sponsored bond in decades.
Sounds like this will lead to a city bailout or a bankruptcy, leaving the bondholders and/or taxpayers holding the bag.
Just another fabulous example of what happens when the government does favors for sports teams and all common sense is thrown out the window. And when the recipients of those funds try to gouge the hell out of customers, charging them some $35 to park, which rendered the garages half empty most of the time.
How hard is it to tell a billion dollar business like the Yankees to build their own parking garages if they want them so bad?
There will be a public memorial service for Jose Fernandez today. The Miami Marlins said in a news release today that fans can gather along the west side of Marlins Park this afternoon for the departure of a funeral motorcade at 2:16 p.m. Fernandez wore No. 16 on his jersey. For those not in Miami, ESPN will provide live coverage of memorial services from 2-2:30 p.m. EDT.
A public viewing will be held at St. Brendan’s Catholic Church from 5 p.m. to 11 p.m. A private funeral Mass will be held tomorrow for family and Marlins players and personnel.
David Ortiz did one of those “Undercover Lyft” spots for, well, Lyft, in which famous people disguise themselves while driving passengers around. Yes, they’re ads, but they’re still pretty funny. At least this one was.
Best parts: (1) the woman who says she has two David Ortiz shirts to which Undercover Ortiz responds, “actually, all my shirts are his shirts”; and (2) when Ortiz agrees with someone that baseball games are “so loooong.” Oh, and at one point he tells a woman who said she was going to the Red Sox game that night that he was too. After he unmasked himself, she explains his own joke to him. Which, ooohhkay.
In other news, people who take Lyfts in Boston either don’t watch much baseball, because Ortiz’s costume is NOT very concealing, or else they simply don’t look at their Lyft driver while in the car, at all.