NEW YORK, NY July 29, 2008 —The Yankees broke ground on their new stadium a year ago, but its financing details are still coming out. Yesterday, a state legislator criticized part of the agreement that gives city economic development officials a free luxury suite. WNYC's Matthew Schuerman has more.

REPORTER: The new Yankee Stadium is receiving more than $600 million in city, state and federal subsidies. Almost half of that money came in the form of tax exempt bonds issued by the city's Industrial Development Agency, or IDA. Under the bonding agreement, the IDA would have permanent access to a luxury suite at the new stadium. Westchester Assemblyman Richard Brodsky says the agreement is another reason to question what public interest the new ballpark is serving to deserve such a high level of taxpayer support.

BRODSKY: I doubt that the Average Joe in the street was going to get access to the box that was controlled by the IDA or the mayor's office.

REPORTER: Stu Loeser, a spokesman for the mayor, says that the city has not decided whether to accept the suite or not. But he defended its use to reward employees and entertain official guests. For WNYC, I'm Matthew Schuerman.

HOST: The Yankees have not set a price on the luxury suites, but the boxes in the old stadium are worth $300,000 to $400,000 a year.