Home › News ›

Post 9/11 Plan Will Fund Neighborhood Improvements

Posted by: Connie Chung
Thanks to: Connie Chung
10 August 2003 - 11:00am

HUD will provide $156 million to fund open space and design improvements, as well as economic development, in Lower Manhattan.

"Managed by the Lower Manhattan Development Corporation (LMDC), the $156 million post 9/11 plan will provide funding to improve public parks and open spaces, to make street improvements and to provide to more pedestrian-friendly access in Lower Manhattan. In addition, the plan will supplement a program to provide grants to businesses adversely impacted by the terrorist attacks nearly two years ago." The program is part of the "total $3.4 billion HUD is providing in direct assistance to help struggling businesses, to provide residential incentives and to revitalize Lower Manhattan since the September 11th attacks."

Full Story: BUSH ADMINISTRATION APPROVES $156 MILLION PLAN TO BEAUTIFY PARKS, REPAIR BUILDINGS AND CREATE OPEN SPACES IN LOWER MANHATTAN
Source: HUD News, August 8, 2003
»
Bookmark and Share
“
Even if the report overestimates the costs by a factor of two and underestimates the tax-benefit by a similar amount, the conclusion would be pretty much the same: destination resorts cost local government and taxpayers money.
”