NYC-WTC_000136454
City of New York
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Rebuilding and Reconstruction Initiatives
Federal Guarantee of Reconstruction Bonds
Objective:
To further reduce interest costs on the tax-exempt debt issuance, ensuring the creation of replacement office space that offers reasonable occupancy costs.
Program Description:
A federal guarantee for the anticipated issuance of up to $15 billion of triple tax-exempt bonds will further lower the cost of financing the redevelopment of
the approximately 25 million square feet of destroyed and damaged office space. Federal legislation is required to provide the guarantee. The combination
of a federal guarantee with tax-exempt debt could result in interest rates as low as 4%.
Eligibility:
The federal guarantee on the tax-exempt debt will only be available for office space redeveloped in Lower Manhattan.
NYC 9/11 Public Portal Document
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NYC-WTC_000136454Source: NYC Law Department, mirrored locally
Comprehensive FAQ addressing downtown building access, reopening areas, property manager contact procedures, and building damage status in lower Manhattan.