BIDs receive over $3.1 million increase in annual spending. On November 28, 2007, the City Council passed a local law to increase the annual budget for 10 business improvement districts and one special assessment district. The increases will require property owners within these districts to pay more into their BID or SAD.
The Times Square Alliance received the largest increase at $768,000, bringing its annual budget to $10.4 million. Outside of Manhattan, the largest increase … <Read More>
Helmut Jahn-designed tower will include four-star hotel, condos, spa and fitness center. On November 15, 2007, the City Council voted to approve Time Equities Inc.’s five linked applications to construct a 725-foot-tall mixed-use tower at 50 West Street, directly north of the Battery Parking Garage and adjacent to the Brooklyn Battery Tunnel. The tower will contain ground-floor retail, 155 hotel rooms, and 290 condominiums. The project site will also contain a 6,821-square-foot urban plaza, … <Read More>
IDA also approves tax -exempt bonds for 2 health care entities and 1 private school. On October 9, 2007, the New York City Industrial Development Agency voted to provide financial assistance to four entities.
IDA awarded the Bronx Parking Development Company $225 million in tax-exempt bonds to finance the design, construction, and renovation of three new parking garages, two existing garages and six surface lots that would serve the new Yankee Stadium. According to IDA, … <Read More>
Designations include Lord & Taylor store and Eberhard Faber Pencil Co. complex. On October 30, 2007, Landmarks voted unanimously to designate seven individual buildings and one new historic district.
In Manhattan, Landmarks designated the Lord & Taylor flagship store in Midtown, the Manhattan House in the Upper East Side, and two federal-era rowhouses in the Lower East Side. The Lord & Taylor store dates back to 1914 and is an example of the Italian Renaissance … <Read More>
New York Harbor School will occupy former Army barracks. Landmarks voted to approve the Governors Island Preservation and Education Corporation’s plan to move New York Harbor School, a Brooklyn-based public high school with a strong maritime focus, into a former military barracks building located in the Governors Island Historic District.
GIPEC is a subsidiary of the Empire State Development Corporation created to develop civic spaces on Governors Island after the federal government handed control of … <Read More>
Residents, preservationists, and elected officials testify for designation. On October 30, 2007, Landmarks held a public hearing on a proposed historic district in the area known as Down Under the Manhattan Bridge Overpass, or DUMBO. The area is already on the National and State Registries of Historic Places, and featured in the National Trust’s list of “America’s 11 Most Endangered Historic Places.” The district would include a unique mix of buildings, including some of the … <Read More>