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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

-2-

In addition, the City and State have requested authorization to issue up to $15 billion in tax-exempt reconstruction bonds on behalf of private developers to finance the reconstruction and renovation of the approximately 25 million square feet of lost or seriously damaged commercial office space. An anticipated federal guarantee combined with the reconstruction bonds will significantly lower interest rates.

"This bond program with its attractive reduced interest rates will do much to facilitate the reconstruction of Lower Manhattan," said Deputy Mayor for Economic Development and Finance Robert M. Harding. "We are pleased that we have been able to work with the State and Federal Governments expedite this comprehensive benefits package."

The City and State had previously announced the WTC Disaster Recovery Loan Program to accelerate financial assistance for small and medium-sized that apply for Small Business Administration Disaster Relief. The City and State are each providing $25 million to guarantee a pool of up to $250 million for bridge loans to be made by participating private lending institutions. Under the program, a business or not-for-profit entity applying for SBA assistance can receive up to $100,000 within two to three days to assist them in their recovery efforts while their SBA applications are being processed.

To address the special needs of the tourism industry that has been severely impacted by the attack on the World Trade Center, the City and State are also requesting $40 million in federal funds for market research and special promotional activities to assist in encouraging visitors to return to the City's many attractions, especially those located in Lower Manhattan and in the New York Harbor.

"Hospitality and tourism is one of the leading industries in New York City," said Michael G. Carey, President of the New York City Economic Development Corporation (EDC). "We are committed to returning New York City to its rightful position as one of the world's premier tourist destinations."

EDC is the City's primary vehicle for economic development services. Using its financial and real estate resources, EDC helps develop businesses and create jobs throughout the five boroughs.

--30— p: releases/grantprog

NYC-WTC 000136734

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NYC-WTC_000136734Source: NYC Law Department, mirrored locally

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