Annual Report 2002

WatchList

Lower Manhattan Development
The Lower Manhattan Development Corporation (LMDC) recently released its Principles and Preliminary Blueprint for the Future of Lower Manhattan, an outline of the LMDC approach to rebuilding Lower Manhattan. The LMDC envisions a mixed-use neighborhood with new and expanded cultural facilities and public and open spaces to attract and support increased tourism and housing. The blueprint emphasizes upgrading and expanding Lower Manhattan’s transportation infrastructure in various ways and includes a proposal for a new, intermodal transit hub, linking the area’s various transit systems to allow more convenient transfers. A permanent memorial at the World Trade Center site is a key component of the plan, with consideration being given to an international design competition. Building Congress members are encouraged to continue their involvement and support of planning and construction efforts downtown and to express their views directly to State and City officials involved, especially LMDC Chairman John Whitehead, President/Executive Director Louis Tomson, and the City’s Deputy Mayor for Economic Development and Rebuilding Daniel Doctoroff.

Board of Education Capital Program
Over the course of the Board of Education’s current five-year capital program, school construction and renovation costs have been running well above estimates. As a result, the $7.75 billion committed for the 2000-2004 capital plan is expected to fall approximately $2.4 billion short of what is needed to complete all of the projects contained in the plan. The Board of Education revised its capital program in December 2001 and deferred construction of eight new schools, as well as a number of expansions, building conversions and other facility improvements. Furthermore, Mayor Bloomberg has asked the Board of Education to plan for a reduction of 17 percent in its capital spending in order to help the City close its budget gap. Cuts in State funding are also expected. Building Congress members are encouraged to contact the offices of Mayor Michael Bloomberg and Council Speaker Gifford Miller as well as Governor George Pataki, Assembly Speaker Sheldon Silver and Senate Majority Leader Joseph Bruno to encourage the fullest possible funding of the Board of Education’s capital budget.

MTA Capital Program
The MTA received approval in February, 2002 for a $14 billion debt refinancing that will free up enough resources to plug the $4.6 billion gap in its 2000-2004 capital program. Most of the budget shortfall resulted from the failure of the New York State Transportation Bond Act, included on the November 2000 ballot. The refinancing will allow the MTA’s capital program to proceed largely as originally planned. Major projects that can now proceed include East Side access (creation of a Long Island Rail Road connection to Grand Central Terminal), planning of the Second Avenue subway and preliminary engineering for extending the No. 7 train to the Javits Center on the West Side of Manhattan. Building Congress members are encouraged to speak to State elected officials and MTA officials to help ensure the full implementation of the Agency’s capital plan.

West Side Development
Mayor Bloomberg has stated that development of the far West Side of Manhattan will be a top priority of his administration and that an expanded Jacob K. Javits Convention Center is the anchor for this development. Governor Pataki has proposed doubling the capacity of the convention center by expanding it northward to 42nd Street. Mayor Bloomberg has made clear that the Center should be expanded, regardless of whether a stadium is included in the project, thus increasing the likelihood that the City and State can reach agreement. Increasing the Center’s capacity is vital not only for promoting tourism but also for spurring needed economic development in this area of Manhattan. Development of the far West Side will require extending the reach of the No. 7 train to the Javits Center area, as well as zoning changes to allow for residential and commercial uses in areas currently zoned for manufacturing. Members are encouraged to express support for West Side development by contacting City and State officials, particularly Chairman Charles Gargano of the Empire State Development Corporation and Deputy Mayor Daniel Doctoroff.

2012 Olympics
The United States Olympic Committee will soon make its decision regarding which city will represent the United States in international competition for the 2012 summer games. NYC2012, which is leading the charge to bring the Olympics to New York, is continuing its efforts on behalf of the City. Hosting the Olympics in New York City would spark construction throughout the five boroughs of housing, transportation facilities, and recreational and entertainment venues. Many needed projects that are currently stalled, such as mass transit
expansions and improvements to the City’s neglected waterfront, would take on new urgency and prominence. The design, construction and real estate community has been a strong supporter of NYC2012’s bid to host the 2012 Summer Olympics. The Building Congress recently contributed $10,000 to NYC2012 and encourages members to continue to do all they can to support their efforts.

WatchList is a periodic update of issues of particular importance to the Building Congress membership.