The city's Independent Budget Office, which four years ago said the Nets' new arena would have "modest net positive fiscal impact" on New York City, has changed its analysis. The IBO cautions it's still updating its numbers on the Barclays Center, but suggests that "net positive" has turned negative, in large part because of increasing city subsidies to the arena. They've doubled from $100 million to $205 million.
- Atlantic Yards - Testimony - George Sweeting - Independent Budget Office
- Study shows Atlantic Yards NBA arena project could cost city big-time - Jotham Sederstrom - New York Daily News