Folder 137

NYC 9/11 Public Portal Document

--. BRAD RACE e VVJ 10/23/01 TCUE 16:06 FAX P.03 ,ocr— -d o: r.3°39

DRAT[ FOR DISCUSSION puRpoSLS ONLY City E,,,bLq d€e Stabilipalton Package for New York Fro stn $1.5 billion New York Business Ret 'on C New York City businesses. preliminary The Retention Grant Program would help retain 100,000, and the number of estimates plaea the number of displaced workers at aver tbteatened jobs at nearly 377,000. pattiotss of economic development incentive The prol~am would reimburse the City far commitments to remtthA it New York pe*ages granted to businesses that wake lortg-term aper-bwiaess basis with amaximum rate City. The resmbtusemrmts would be made on bu8ustSes back to their Septculbcr 10, 2001 of $10,000 per eRsplayoe, and only to brig employment figures. over the next 18 months, this PtnS$m Given the projected $3 billion in lost tax revenue City seewt would act as a backstop to these losses by helping dew ontgtt~ fot+s 5' , The program 4 toale comTnianents from major employees sic displaced P by the those businesses physically and priority consideration would be given to 9/11 attacks.

$1 billion OfGae of New Rork Terrorist Attack Cla3 cerapeaaationfor businesses and residents The Claims Office would provide limited the 9111 attacks. Hundreds of small ineorriuglosses and expenses resulting directly from Ground Zero are on the verge of losing their retailers and other businesses is and around tenable no regain access to their property, -livelihoods because they either: (1) have been and vehicle traffic due to the acme scene designation or; (2) are unable to receive foot or limited access areas. Claims Modeled after, though signiEcentlY nano than, the O cc of Cerro Grand Piro would provide direct this office created following the New Mexico fires last yrar, `mdetinsrred FrepertY loss; business inclltdingt uninsured or cowpensatien for damages prevent ternPon+rY employee wages to interruption losses for a specified Period oftime;This would be compens6tiom for layoff, temporary living or relocation gspense. ed area rd up to a specified limit. qualifying companies and residents within a desigtbe reduced by an amount equal to any program sball Any amannt received through this insurance benefits or other paytYients er settlements•

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NYC-WTC 000136199