PAP 4 Draft for Public Comment as of May 28 2003

DRAFT FOR PUBLIC COMMENT (AS OF 5/28/03) LOWER MANHATTAN DEVELOPMENT CORPORATION Partial Action Plan No. 4 for Short-Term Capital Projects, Long-Term Planning, and Supplemental Funds for Business Recovery Overview The Lower Manhattan Development Corporation (LMDC) has prepared the following Partial Action Plan with regards to the $2 billion federal appropriation for the World Trade Center disaster recovery and rebuilding efforts administered by the United States Department of Housing and Urban Development (HUD). LMDC anticipates additional funding by a more recent $783 million federal appropriation to HUD for damaged properties and businesses (including the restoration of utility infrastructure) as well as economic revitalization related to the terrorist attacks at the World Trade Center. This plan details the proposed expenditure of $151,929,673.00 out of the $2 billion to fund the following items: 1. Short-Term Capital Projects totaling up to $66,100,000.00. 2. Long-Term Planning totaling up to $13,233,189.00 3. WTC Business Recovery Grant Program totaling up to $74,500,000.00 4. Reallocate remaining Employment Training Assistance Program funds up to $9,500,000.00 5. Planning and administration activities totaling up to $7,596,484.00. To date, HUD has approved two Partial Action Plans allocating approximately $656 million to LMDC. On June 7, 2002, HUD approved the Partial Action Plan calling for the expenditure of ...