NYC 9/11 Public Portal Document
0 20'2001 15:59 SKADDEN a 912125190344P965130 NO.316 P02
SEP-19-2001 1045 1 NYC COUNCIL SPKR'S OFF. 212 798 7207 P.02/86
f/ >' Tor. No.
DRAFT
A LOCAL LAW
To amend the Charter of the City of New York to create a Lower Matthattan/Financial
District Redevelopment Commission.
Introduced By the Speaker (Council Member Vallone) and Council Members Berman,
O'Donovan and Pinkest
Be it enacted by the Council as follows:
Section 1. Legislative findings and intent. On September 11, 2001 the City of
New York suffered an unprecedented loss with the destruction of the World Trade Center
and surrounding buildings. The Council recognizes the importance of the affected area
and the businesses located in the area to the economic well-being of the City. The City
Council hereby finds that such an unprecedented event requires creation of a commission
to focus on the specific needs of the financial district of lower Manhattan and to facilitate
and coordinate the redevelopment and reconstruction of this area, and provide a•ssistance
to businesses located in the affected area.
The Council further finds that the loss, through destruction or evacuation, of more
than twenty-five million square feet of office space in the financial district of lower
Manhattan, presents both short-term and long-term challenges to the City. ,On a short-
term basis, everything must be done to encourage and assist businesses to remain in
dower Manhattan or in other surrounding parts of the City and to provide all necessary
assistants to effectuate relocations of businesses as quickly as possible. The Couucil
further finds that on a longer-term basis, the redevelopment of the area surrounding the
World Trade Center is essential to the long term economic well-being of the City.
NYC-WTC 000137150
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