Silver Announces Hearing On Status Of
Lower Manhattan And Ground Zero Redevelopment

Gretchen Dykstra, Officials From Silverstein Properties,
The Port Authority, ESDC, The City Of New York And The LMDC,
Asked To Testify Along With Community And Family Representatives

Speaker Sheldon Silver today announced that the Assembly will conduct a hearing on the status of redevelopment efforts at Ground Zero and Lower Manhattan. The hearing, planned for May 18 and co-chaired by Silver and Richard Brodsky, chair of the Assembly Standing Committee on Corporations, Authorities and Commissions will provide the first thorough review of exactly what is happening and what is planned at the site of the former World Trade Center and the surrounding community.

"Almost five years after the destruction of the World Trade Center at the hands of terrorists, people throughout the state, the city and my Lower Manhattan community have become more and more frustrated by the lack of progress, lack of coordination and lack of leadership with regard to the reconstruction of downtown's physical structures as well as its local economy. To date there has been no complete and honest assessment and accounting of where we stand or where we are going. In light of the announcement made two weeks ago, the timing is right for a full review so that the public can assess if this project is back on track."

According to Silver, the Assembly hearing will examine a range of issues associated with status of redevelopment including the details and status of the plans and timetable for the redevelopment of Ground Zero and the surrounding structures. In addition, the Assembly is looking for information on the utilization of the incentive programs secured by Silver last year aimed at spurring redevelopment in Lower Manhattan.

"This hearing will provide an important opportunity for all of us to get a better understanding of how redevelopment efforts are progressing," said Brodsky. "There are persistent questions, in terms of finances, planning and accountability that require thorough consideration and a better understanding by the public at-large, as well as families and those who live and work in the area."

Potential witnesses at the Assembly hearing include Gretchen Dykstra, CEO of the World Trade Center Memorial Foundation; the Port Authority's Executive Director, Kenneth Ringler, Jr., and Chairman, Anthony Coscia; Larry Silverstein; Chairman of the Empire State Development Corporation Charles Gargano; New York City Deputy Mayor Daniel Doctoroff; and Stefan Pryor, Chairman of the Lower Manhattan Development Corporation.

Of particular interest to the Assembly are details of the agreement reportedly reached recently by the City of New York, the Port Authority of New York and New Jersey and developer Larry Silverstein regarding the proposed redevelopment at Ground Zero.

Specifically, the Assembly is looking for information pertaining to:

• The status and terms of the agreement, as well as the timetable for the construction and preparation of the surrounding infrastructure, including the deconstruction of the Deutsche Bank building and Fitterman Hall;
• the timetable for the construction of the proposed towers, the memorial and retail development on the Church Street corridor and throughout the area;
• any provisions put in place to ensure adherence with a schedule and who is responsible for the enforcement of a timetable; and
• the source and allocation of funding for each component.

In addition, the hearing seeks to examine the actions that the parties have taken thus far to accelerate redevelopment in Lower Manhattan and Ground Zero including the utilization of business recovery programs such as the Job Creation and Retention Grant Program (JCRP), the Small Firm Attraction and Retention Grant Program (SFARG) and initiatives contained in a Legislative package crafted by Silver and passed last year providing tax exemptions and square footage incentive pricing aimed at the leasing of commercial space at the World Trade Center.

The hearing will take place at 10:30 a.m. on Thursday, May 18 at 7 World Trade Center (Corner of Greenwich and Barclay Streets), 25th Floor, Manhattan (Click here to view Public Hearing Notice).