NYC 9/11 Public Portal Document
Budget Stabilization Assistance fiscal_assistance
9(21(01
A. Transitional aid based on loss of property tax (or equivalent) for approximately 25 million sq ft destroyed or rendered uninhabitable.
B. Transitional aid based on the dislocation of an estimated 44,000 workers. (WTC jobs lost or relocated and the multiplier effects of that loss)
C. Transitional aid based on the losses to Tourism (40% reduction in hotel tax and sales tax on "other visitor spending")
The funding would be required this fiscal year and would phase down over 10 years as new replacement space is developed.
S's millions
A B C Total Phase-out
2002 $ 185 $ 110 $ 288 $ 583 100%
2003 $ 185 $ 110 $ 288 $ 583 100%
2004 $ 148 $ 88 $ 230 S 466 80%
2005 S 148 $ 88 $ 230 $ 466 80%
2006 $ III S 66 $ 173 $ 350 60%
2007 $ III $ 66 $ 173 $ 350 60%
2008 $ 93 $ 55 $ 144 5 292 50%
2009 $ 74 $ 44 $ 115 $ 233 40%
2010 $ 56 $ 33 $ 86 $ 175 30%
2011 $ 37 $ 22 $ 58 $ 117 20%
Total 1147.0 682.0 1785.6 3614.6
Economic Stabilization and Recovery Program
This program will cover the increased annual occupancy costs and one-time relocation expenses.
A.Three year as of right relocation assistance program for businesses which relocate within the City.
B. Revolving Loan Program
$'s millions
A. B. Total
2001 $ 550 $ 50 $ 600
2002 $ 275 $ 275
2003 $ 137 $ 137
Total $ 962 $ 1,012
NYC-WTC 000136434
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