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WTC Records Folder 0140 label, 2001

Machine-extracted title · confidence 100%

Archival folder label from the Office of the Mayor for World Trade Center records, identified as Folder 0140.

NYC-WTC_000136670–000136818

Folder label: “Folder 140

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NYC 9/11 Public Portal Document

Also, as a result of the destruction of the Port Authority (PA) and Metropolitan Transportation Authority (MTA) stations and tunnels, approximately 375,000 daily subway riders have been closed out of their regular stations. This represents nearly half of the daily riders in downtown Manhattan. The following is an estimate cost breakdown for this category:

• $8.2 billion: World Trade Center and Hotel replacement; • $2.4 billion: WTC and Hotel replacement equipment and renovation costs: • $1.8 billion: MTA capital costs for safety, security and system compatibility; • $1.7 billion: MTA direct infrastructure damage; • $1.3 billion: PA cost of security enhancements; • $1 billion: Private buildings -- cleaning, removal and remediation; • $850 million: PA PATH subway station reconstruction; • $250 Million: NYC road, water mains, sewers and road reconstruction; • $245 million: MTA toll and fare revenue loss; • $163 million: MTA reduction of tax subsidies due to economic disruption; • $159 million: PA revenue losses directly attributable to disaster; • $150 million: PA replacement of computer systems, office equipment and vehicles; • $123 million: MTA disaster-related operating costs; • $100 million: PA ferry service restoration and commuter substation; • $90 million: PA replacement of authority-owned power facility; • $50 million: City University New York lost facilities; and • $30 million: PA replacement of EZPass and telecommunications equipment.

Total Cost: Approximately $19 billion

ECONOMIC RECOVERY & REVITALIZATION - $20 BILLION:

In addition to these 100 percent Federally funded efforts to rebuild the lower Manhattan site of the Word Trade Center complex, we are seeking Federal Financial support for certain measures key to addressing the broader State and City economic impacts of the tragedy. These measures are fully compatible with the current Federal interest in stimulating the National economy.

Creation of Federal WTC "Liberty" Recovery Zone

This new zone would be created in Lower Manhattan with the goal of creating self- sustaining, long-term economic development in New York with special emphasis on the areas damaged or destroyed during the events of September 11. The Liberty Zone would establish special tax incentives and grants for qualified businesses, designed to stimulate private investment, return temporarily relocated jobs to the community and rebuild 25 million square feet of commercial office space that was destroyed.

The Liberty Zone would also create financial incentives to encourage businesses that are located within it to hire individuals who live and work nearby, as well as encourage investment in

buildings, equipment and infrastructure within the zone through tax-exempt bond financing and favorable depreciation rules.

-more-

NYC-WTC 000136682

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NYC-WTC_000136682Source: NYC Law Department, mirrored locally

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