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Hudson River Park project's $10m boost.


An additional $10 million dollars in Port Authority of New York and New Jersey Port Authority of New York and New Jersey, self-sustaining public corporation established in 1921 by the states of New York and New Jersey to administer the activities of the New York–New Jersey port area, which has a waterfront of c.  capital funding will help complete the construction of the Hudson River Park Hudson River Park is a waterside park on the Hudson River that extends from 59th Street south to Battery Park in the New York City borough of Manhattan. Bicycle and pedestrian paths span the park north to south, opening up the waterfront for recreational use.  in Manhattan.

The funding is in addition to the $5 million from the state Environmental Protection Fund (EPF EPF

early pregnancy factor.
) included in the Governor's Executive Budget.

"Eight years ago we seized an historic opportunity to create a world-class waterfront park Waterfront Park can refer to any of a number of parks on a river or other body of water, including:
  • Tom McCall Waterfront Park along the Willamette River in Portland, Oregon.
  • Louisville Waterfront Park along the Ohio River in Louisville, Kentucky, which opened in 1999.
 along the Hudson River on Manhattan's West Side, and today, Hudson River Park is providing residents and visitors with improved recreational, cultural and educational amenities and new access to the scenic beauty of the Hudson River," Gov. George Pataki said. "This new, additional funding will build on our commitment to fulfill the vision of Hudson River Park and ensure a lasting legacy for our children and generations to come."

To date, 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
 State has committed and funded $100 million for the Park's construction. The $5 million in proposed State EPF spending, and the additional $10 million in Port Authority funds, will enable the State to match funds being committed by 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.
, bringing total funding for Park construction in the 2005-2006 Fiscal Year to $30 million.

The $30 million in additional funding commitments will allow the Hudson River Park Trust to move forward with construction on the Chelsea segment of the park in the coming year. Both the State and City have now committed more than $230 million in design and construction funding to this 5-mile open space project that is transforming Manhattan's West Side. The Park's Greenwich Village segment opened to rave reviews in 2003 and the opening of Clinton Cove, between 54th and 57th Streets is just months away.

Empire State Development Corporation Chairman Charles A. Gargano said, "Hudson River Park was an historic step in the revitalization of the West Side, and part of a vision that Gov. Pataki brought to life. The park is an outstanding addition to the city and has helped to transform and energize en·er·gize  
v. en·er·gized, en·er·giz·ing, en·er·giz·es

v.tr.
1. To give energy to; activate or invigorate: "His childhood
 the entire area. This effort has been a real partnership in creating a lasting addition to the city."

The Park is being planned and built by the Hudson River Park Trust, a unique state-city partnership.
COPYRIGHT 2005 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:Port Authority of New York and New Jersey's fund
Publication:Real Estate Weekly
Geographic Code:1U2NJ
Date:Feb 23, 2005
Words:362
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