REBNY measures successes in wake of sept. 11 tragedy.
The following is a brief checklist of REBNY's accomplishments over the past few challenging months:
* We helped New York City obtain an immediate commitment of $17.5 billion from Congress for recovery efforts.
* We worked with Governor Pataki and Mayor Giuliani on long-range plans for Lower Manhattan's revival.
The elements of the plans include a proposed "Liberty Zone," with tax incentives and grants to attract and retain office tenants, as well as bolster residential property values in the vicinity; commuter rail access to the district; a new PATH station and rehabilitated subway terminals.
* We mobilized 120 volunteer brokers to operate a REBNY space bank that has responded to approximately 500 displaced business in search of temporary or permanent new operating quarters.
* We raised approximately $11.5 million for the Twin Towers Fund, the proceeds of which go to the victims of the attack and their families.
* We directed owners and brokers to hold prices at levels achieved the day before the attack.
* We had inaccurate reports of inflated rents retracted and corrected in print.
* We secured a three-year extension of cooperative condominium tax abatements.
* We won zoning changes that permit high-rise commercial development in part of Long Island City, a job expansion initiative that should strengthen nearby housing markets as well.
* We obtained an extension of the progress assessment's term from one to three year's; the measure shields properties from assessment increases based on improvements made during an office building's development.
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|Title Annotation:||Real Estate Board of New York|
|Publication:||Real Estate Weekly|
|Article Type:||Brief Article|
|Date:||Nov 7, 2001|
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