03/04/2020
Economics Professor Amihai Glazer weighs in on the City of AnaheThe land deal doesn’t include any tax breaks or other direct subsidies for the buyer, who is expected to develop the property, but UCI economics Professor Amihai Glazer said that’s not the only way they may factor in. New York City spent more than $2 billion extending a subway line to serve the Hudson Yards development of shops, offices, an arts center, apartments and condos, he noted.
“That’s what you have to be wary of, that the developer doesn’t want cash but wants the city to spend money to make the development succeed,” Glazer said.
The $325 million sale of the stadium and parking lots to a company involving team owner Arte Moreno could move forward Friday.