Mets Stadium Deal Done

After weeks of negotiations, the New York Mets and the City Council delegation from Queens made a deal to give back to the local communities that cleared the way for the City Council to approving financing plans for both the Mets’ and Yankees’ new stadiums.
The City Council approval to allow the use of tax-exempt bonds to pay construction costs came on Wednesday, April 26. In exchange for the financing package, the Mets will be offering jobs and funding to organizations and residents from Queens.
“Three weeks ago there was nothing on the table and today we will be voting after last night’s (April 25) agreement that creates a win-win for the [Mets] and the residents of the borough of Queens,” said Councilman Hiram Monserrate.
“It just took some time. There were a lot of negotiations and discussions and now there are millions of benefits for the residents of Queens.”
The Mets agreed to spend $500,000 to sponsor Little League teams and support non-profit organizations in the area.
Additionally, the Mets formed the Project Labor Agreement that will make sure 25 percent of construction jobs go to minority- and women-owned firms in Queens.
They also agreed to direct that the same amount of the Mets stadium’s development contracts to businesses from the borough.
Also included is a deal made through Mayor Michael Bloomberg’s office that mandates the city spends $50 million to repair the Roosevelt Avenue Bridge near Shea Stadium.
The City Council delegation from Queens had come under fire in the media for trying to get a community benefits agreements more on the order of the Yankees deal with a delegation of South Bronx lawmakers. The Yankees package was priced at around $50 million but unlike the Mets stadium proposal, the Bronx Bombers are getting 22 acres of city parkland on which to build their new stadium.
City Council Majority Whip Leroy Comrie served as mediator for the Queens delegation after Bloomberg criticized the group, calling its initial demands “ransom.”
“We think it’s a benefit for the city . . . it will give Queens businesses an opportunity to fairly compete with anyone to get an opportunity to work for the Mets,” said Comrie of the deal.
I think this is a good deal overall,” Monserrate said. “This is a homerun for all of Queens.”