WTC Records Folder 0124 Clippings label, Sept 2001

NYC 9/11 Public Portal Document of Real Estate Weekly, October 3, 200! " Battery Park City to receive low cost power, governor says Governor George E. Pataki announced that the Hugh L. Carey Battery Park City Authority (BPCA) will begin receiving low cost power from the New York Power Authority (NYPA), a move that will con- tinue to help the complex recover from the terrorist at- lacks on the World Trade Center. To facilitate the initiative, the NYPA Board of Trust- ees has taken action to approve a new low cost con- tract that provides Battery Park City with a nearly 25 percent reduction in the cost of its electricity. The ef- fort follows yesterday's announcement that the gover- nor has directed NYPA to provide low-cost electricity to focal businesses dislocated by the attack. “The tragic attack on the World Trade Center caused (remiendous hardships for many residents of Battery Park City,” Governor Pataki said.“By provid- ing low cost power for the many public spaces and parks in the area, this initiative will help to smooth the way for a full recovery for the Battery Park City com- munity.” Under the contract approved by NYPA, the BPCA is eligible for NYPA electricity use in its New York City public facilities. BPCA anticipates an estimated savings of 25 percent on its electric costs compared to previ- ous service provided by local utilities. The total amount of electricity used by the BPCA in public places at any one given time is approximately 375 kilo- watts. Joseph J. Seymour, chairman and chief executive officer of the NYPA said, “We stand ready to do what- ever we can to help the financial district and its resi- dents recover from the tragedy that struck two weeks ago, We are committed to doing all we can to help re- store the area to the vibrant, viable district it once was, and will be again.” Timothy S. Carey, president and chief executive of- - ficer of Battery Park City, who also serves as a Power Authority trustee, recused himself from decisions con- ceming the proposed contract because of his dual roles regarding the BPCA. Today’s announcement follows a separate action . taken yesterday by the govemor and NYPA to provide . low-cost power to local businesses affected by the Sept. 11 attack. ° Under this initiative, NYPA is taking the 80 mega- watts of electricity previously provided to the Port Authority of New York and New Jersey for the World Trade Center, and redirecting it toward economic re- covery efforts in New York City.NYPA projections in- - dicate that the low-cost power will save focal compa- nies more than $6 million. . “In the wake of the tragic attack on the World’ Trade Center, we are moving forward with an aygres-- sive effort to help the business community and ils em- ployees recover, rebuild and prosper in New York City,” Governor Pataki said. “This low-cost power’ from the New York Power Authority will play a key. role in helping these businesses get back on their feet while also keeping these important jobs right bere in New York.” NYC-WTC_000137149