WTC arts center likely to get funding boost

Posted on: October 7, 2010

In Thursday’s (10/7) Wall Street Journal, Pia Catton reports, “The Lower Manhattan Development Corporation is poised to allocate at least $100 million in Federal funds to a future performing arts center at the World Trade Center site. On Wednesday, a committee of the LMDC recommended that the new arts venue receive a portion of the more than $200 million previously earmarked for utilities companies, which sustained infrastructure damages during the terrorist attacks of Sept. 11, 2001. In 2006, the LMDC board allocated $55 million for the project, and it will vote to give at least another $100 million in funding at its next meeting in November. Mayor Michael Bloomberg, Governor David Paterson and State Assembly Sheldon Speaker Silver agreed to the creation of the fund for the performing arts center. … According to state senator Daniel Squadron, who spearheaded a working group this summer with state and city officials in order to keep momentum going on the issue, this could accelerate the project.”

Posted October 7, 2010