Gov. Kathy Hochul (D-NY) announced a deal has been reached on a new stadium for the NFL’s Buffalo Bills. The price tag for the deal, which came after seven months of negotiations, sits at $1.4 billion. That money will come from:
The state of New York ($600 million)
Erie County ($250 million)
The Bills and the NFL ($550 million)
The $850 million commitment between the state of New York and Erie County is considered to be the largest public commitment for an NFL facility.
“I went into these negotiations trying to answer three questions,” Gov. Hochul said in a news release on the Bills stadium deal. “How long can we keep the Bills in Buffalo, how can we make sure this project benefits the hard-working men and women of Western New York and how can we get the best deal for taxpayers? We’ve come out with the best answers possible–the Bills will stay in Buffalo for another 30 years, the project will create 10,000 union jobs and New Yorkers can rest assured that their investment will be recouped by the economic activity the team generates.”
Monday’s announcement came as a local news station found a state agency would be getting significantly less funding under Hochul’s $216 billion proposed budget for the 2022-2023 fiscal year. CNY Central reported last week that the Office of Child and Family Services is facing a cut of $800 million, from $4.5 billion to $3.7 billion. According to CNY Central, the proposed budget is under legislative review by the Senate and Assembly. The Senate is expected to vote on it in the next week or so.
Reuters
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