Excitement grows as plans for Downtown progress.

While the insurers and the leaseholder of the World Trade Center carried on a court battle on whether the 9/11 terrorist attacks count as one of two incidents, a Downtown official and the chairman and CEO of one of the area's most prominent businesses spoke excitedly about the future and the need for a resolve to never forget the past.

At the annual meeting of the Downtown-Lower Manhattan Association, Kevin Rampe, chairman of the Lower Manhattan Development Corporation and Tom Renyi, chairman and CEO of the Bank of New York, discussed the future of Lower Manhattan--noting both individual events and the importance of keeping Lower Manhattan as the financial capital of the world.

"In less than a decade, the World Trade Center site will be home to the world's tallest building, a world-class cultural center, a powerful memorial and a triumphant transportation hub," Rampe said. "Lower Manhattan remains the world's financial capital and will soon be a model 21st century central business district."

Rampe specifically cited the work of former senator, George Mitchell, and all of the parties involved in bringing finality to the Deutsche Bank dispute. The LMDC has agreed to purchase the building and tear it down within five to seven months, according to Rampe. Rampe said he a similar understanding would prevail on the final insurance litigation relating to the site and said lessons should be learned from Aza and Allianz, the two insurers involved in the Deutsche Bank dispute.

Looking to the future, Rampe noted that, by next month, a definitive route will be chosen for a commuter rail line between Lower Manhattan and Long Island and John F. Kennedy International Airport, in Queens.

"In addition to this effort, over $4.55 billion has been committed for critical transportation improvements," Rampe said. "There is no question about it, the key to the recovery and future success of Lower Manhattan is access."

Rampe also noted the expected groundbreaking at Wall Street and Broadway, which will eventually allow the Bank of New York to open it's One Wall St. entrance to a pedestrian plaza for the first time since Sept. 11, 2001.

Rampe also spoke of the upcoming Tribeca Film Festival and the Splendor of Florence Festival in October as crucial cultural events. And be lauded the planned May festival, organized by the LMDC and 14 cultural institutions and historic attractions in Lower Manhattan.

The upcoming construction in Lower Manhattan should not destroy the historic aspects of the area, Rampe said.

"Along with 10 million square feet of class A office space, world-class cultural facilities and a triumphant transportation hub--we will also have an interpretive memorial center that tells the stories of Sept. 11--a museum that will exist on the very site the devastation took place," Rampe said.

Rampe also added that the Environmental Review Process adopted by the LMDC "will ensure that the rebuilding effort moves forward in a way that does not harm Lower Manhattan in the short-term--while we work to improve it in the long-term."

Renyi said he was pleased that, despite varying interests, those involved in the rebuilding process still had largely come together.

"It would be misleading--if not Pollyannaish--to suggest that all the parties involved in the process are in lockstep on all the issues that remain," Renyi said. "But seeing the tremendous progress that we've made over the past two-and-a-half years and having witnessed and benefited from the cooperative spirit that exists between the business community and local, state and federal government agencies. I am comfortable that we are united on the matters that count."

Renyi said the many officials and business people involved in the downtown redevelopment shared a common vision.

"The vision that we share is of a Downtown Manhattan that can and will be the world's premier center of global commerce, for decades to come," Renyi said.

In addition to transportation issues, Renyi spoke of the future of the New York Stock Exchange and said that when appealing to officials in Washington, D.C. to help fulfill financial obligations downtown, emphasis should be placed on helping the investor, not necessarily rebuilding Downtown. "That's not going to get a lot of support from Washington," he said.

He continued, "The New York Stock Exchange today still remains the deepest and most liquid market today. And we've got to maintain that."