Annual Report 2006

Dedicated Financing

Longer term, members of the design, construction and
real estate industry must continually press for dedicated financing to sustain and expand our infrastructure. To the credit of the Bloomberg administration and other elected officials, including Senators Charles E. Schumer and Hillary Rodham Clinton, there is recognition of this vital need as well as a vision for how to build for growth,
especially in the mass transit and educational systems.

“Public transportation is what separates New York from almost every other American city,” Senator Schumer said at a forum last year on West Side development. “The history of the City of New York teaches us that development follows subways. The Hudson Rail Yards is the last significant developable parcel in Midtown Mahattan and building the #7 extension will light a stick of development dynamite under the Far West Side.”