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Report on Lower Manhattan redevelopment funding disparities, May 2002

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Document discussing public concerns regarding the allocation of $500 million in grants between large corporations and small businesses during post-9/11 recovery.

NYC-WTC_000143198–000143199

Folder label: “DEP 59.17 Junction Blvd, 11th FL

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NYC 9/11 Public Portal Document At Ground Zero, a New Divide Some of 9/11's Neediest Get the Least Government Aid By EDWARD WYATT When the Lower Manhattan Development Corporation convened its tirst public hearing last month about efforts to rebuild the shat- tered core of the city, what quickly emerged was a growing schism between two groups that live and work within a mile of each other. Many of those who spoke at the session at Pace University on May 23 expressed anger that hundreds of millions of dollars had been set aside for large corporations and the well-off residents of Battery Park City and TriBeca, at the expense, they said, of small businesses and the more needy residents of Chinatown and the Lower East Side e sentiment that was infrequently discussed during the cleanup and recovery at the World Trade Center site, but as the focus has turned to rebuilding, the protests have gained in volume. About $500 million has been designated for cash grants to 145 big corporations in Lower Manhattan, nearly as much as for direct ald to thousands of small businesses in the same area. American Express, for example, recently ac- но алама тоиі PRU 7090 сueд сhл ол сокскаи кіяие SRIONOO ТУПОШУМИЗЕМ -7300 lblstoa NYC-WTC_000143198

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NYC-WTC_000143198Source: NYC Law Department, mirrored locally

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