NYC 9/11 Public Portal Document
00000 P.02
OCT-03-2001 1249 FAX
DRAFT
To: Charles A Gargano
Robert Harding
From: Kevin S. Corbett
Michacl Carey
Date: October 2, 2001
Subject•. New y olk Revitalization Program
disaster recovery plan for
initiatives should be included in a
The following immediat
o e e Government for 975 m' 'o to cover
_~,~/ 7 . e York Scat eed a t
world Trade Center disast
~a•~ ecoaoptic recpvery, pee~y r€sukmg $om the
funding for the following initiatives:
• The grant would provide
Recovery Loan Yrof raID — $125 nallion
to fums awaiting SBA loan approval.
• Would provide interim financing
in bridge loans to firms afiSted.
• program would leverage 5625 million
between New York State and New York City.
• Funding would be divided
of u C red It $20 billion
of the disaster are very large —
/ ~~ ~ Estimates of
•, gstiatatea
Tange.
uninsured damage s as a
tO cover uninsured losses at firms
suffering
; ; Cash grants of $10,000 to $100,000
/~0~Q physical damage. ,
', t
SZ~L1 Assists cc for D' laced Busin o f 5750 miWon
pleloestio
workers`w~re-dtapliced as a result of the
/ About 1,000 firms employing 100,000
disaster. costs resulting from the
11~ • Cash grants to businesses to assist in meeting increased space
disaster. is essential.
costs of relocation spate
• Ensuring that affected firms are able to meet spa
and New York City.
• Jointly administered by New York State
Marketinf and T urism — 540 mil ion
actions are necessary
i addition, the following Federal Relaredl oarl Requirements
Lto tization of Cusre,fl$Bkflisafl
Changes needed include:
services businesses and not for profits
• Expanded eligibility to'include financial
million.
• increase loan cap from $1.5 million to $10 flexibility.
underwriting
• Relax collateral requirements, increase
business profile of impacted area.
• Adjust business size limitations to reflect
!red tax erem t n d anteSs for reconstruction bond;=• v
estimated at 59 bullion for the State
era1mart to cover revenue shortfalls
rillinn for theCmG.
w
NYC-WTC 000136678
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