Timothy Carey resigns as Battery Park City CEO.

Timothy S. Carey, president and CEO of the Hugh L. Carey Battery Park City Authority, resigned on September 12 at a meeting of the Authority's board of directors. The board voted to elevate James Cavanaugh, chief operating officer of the Authority, to the position of president and CEO.

"It has been a great pleasure serving as the president and CEO of the Battery Park City Authority for these past six years," said Carey. "It has been a unique experience that I won't soon forget. From 'green' building to rebuilding a neighborhood after a horrific attack, together we have showcased Battery Park City as the most successful example of urban planning throughout the world."

"I want to thank my staff who worked diligently beside me throughout the years. Without their willingness to accept new ideas, we could never have achieved the success we enjoy now. To the Battery Park City community and the elected officials who serve them, I say thank you," continued Carey. "Your spirit of cooperation and your enthusiasm in bringing this neighborhood together has made my time here quite enjoyable."

Carey, who began as president and CEO in May of 1999, will remain an employee of Battery Park City as special assistant to the board, a part time position.

"Tim is a colleague, but also a dear friend, and his leadership and vision will be truly missed at Battery Park City," said James Gill, chairman of the Battery Park City Authority. "I know I speak for the entire board of directors when I say we are saddened by his departure. The Authority has enjoyed some terrific success, a lot of it in the course of coming back from the attacks of 9/11. It would not have been possible without Tim."

Before coming to Hugh L. Carey Battery Park City Authority, Mr. Carey served as chairman and executive director of the New York State Consumer Protection Board. From 1995 to 1996, he served as a cabinet member to Governor George E. Pataki as director of intergovernmental and legislative affairs.

"Battery Park City is a vibrant community filled with an indomitable spirit," said James Cavanaugh, in accepting his position as president and CEO of the Authority. "I am looking forward to working with residents, business owners and government officials as we move toward total completion of this spectacular 92 acre site. I want to thank the Authority's board of directors for their confidence in my ability to lead the Authority's staff. I would also like to thank Tim Carey. Working beside him over these last two years has been a truly wonderful experience. I hope to bring the same level of energy to the position as he did."

James Cavanaugh was named chief operating officer of Battery Park City Authority in 2004, and previously served for 10 years as the town supervisor of Eastchester, N.Y.

The Battery Park City Authority is a public benefit corporation created by the New York State Legislature in 1968 to develop a 92-acre site at the southwestern tip of Lower Manhattan. Parcels are leased to developers who build in accordance with BPCA guidelines, which now incorporate "green" provisions mandating state-of-the-art environmental specifications to maximize energy efficiency and minimize water usage, among other provisions. When it is completed, Battery Park City will boast 4 1/2 million square feet of sustainable construction.