Economic Development

Order Instructions

Question:

You are the Senior Adviser for Economic Development to the new Mayor of New York

City. The mayor is working on a major project to develop a new soccer stadium in South

Bronx, adjacent to Yankee Stadium. You have been asked to develop an effective and

equitable Community Benefits Agreement (CBA) for such project. In a memo format of

6-7 pages (1.5 spacing) please provide your recommendations and proposed structure

for a CBA. Include the following:

(1) Evaluation

– What is a CBA? Is it a tool that the new administration should utilize for all largescale economic development projects?

– Review coverage of the Yankee Stadium CBA and evaluate its effectiveness

o Was the Yankee Stadium CBA a success or not?

 Where was the CBA Successful? What were positives of the deal?

 Where did the CBA fail? What were the negatives of the deal?

 Did the CBA work? Why or why not?

 Was there a mechanism to ensure that the Yankee organization was

held accountable to the terms of the agreement?

(2) Proposal

– Research best practices for tailoring a CBA using both local and national

examples. Identify at least two that you would consider when developing your CBA.

– How would you tailor a strong successful CBA for a new soccer stadium?

o Who are the key stakeholders involved? Which local economic

development organizations would you partner with?

o What are the key aspects of the agreement?

o How would you ensure that the community received the agreed-upon

benefits?

o What strategic considerations are necessary to ensure the success of the deal?

Please ensure that you reference texts and research wherever appropriate.

Footnote citations are preferred.