Developer makes plea for Liberty Bond cash.On June 30, Silverstein Properties made an appeal to the New York City Council The New York City Council is the lawmaking body of the City of New York. It comprises 51 members from 51 council districts throughout the five boroughs. The Council serves as balance of power against the mayor in a "strong" mayor-council government model. Committee on Economic Development to use the remaining $3.7 billion in Liberty Bonds to fund the World Trade Center rebuilding project. In his testimony to the committee, John N. Lieber, senior vice president of World Trade Center Properties LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , noted that the Bonds were created specifically for the revitalization of lower Manhattan Lower Manhattan is the southernmost part of the island of Manhattan, the main island and center of business and government of the City of New York. Lower Manhattan is generally defined as the area delineated on the north by Chambers Street, on the west by the Hudson River (North and that Silverstein Properties is in dire need of the money to complete the approximately $7 billion World Trade Center project. "Silverstein expects Liberty Bonds to play an important role in financing this redevelopment," Lieber said. "Depending on the final outcome of our legal battle with the insurance companies, the project may need up to $3.5 billion in Liberty Bonds. As you consider the allocation of the remaining available Liberty Bonds, it is important to remember that the intent behind the ... program was to facilitate the rebuilding of the World Trade Center site and other development projects essential to the revitalization of lower Manhattan." "According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Congress' Joint Committee on Taxation, the purpose of the bonds is to finance 'rebuilding the portion of New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. damaged in the September 11, 2001 terrorist attack.' Needless to say, no area was more clearly 'damaged' ... than the World Trade Center itself. And no area is more important to the broader revitalization of lower Manhattan. It would be a tragic mistake if the pool of Liberty Bonds were exhausted without completing the full rebuilding of the World Trade Center." During his testimony, Lieber referred to instances where Liberty Bonds were used for "developments outside of the area that suffered from the 9/11 attacks"--presumably for such projects as the Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. building in Times Square. Though he offered no direct criticism of the city government, he expressed concern that the continuation of such practices would "seriously damage New York's credibility in the Congress." So far, the Economic Development Corporation and the Lower Manhattan Development Corporation would not discuss weather Lieber's proposal was being seriously considered, but the Alliance for Downtown New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of said it would have no problem with the money being earmarked exclusively for the World Trade Center. "Our position is that we feel that Liberty Bond financing should be used for downtown in general," said Brian Evans Brian Evans may refer to:
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