The use of pilot financing to develop Manhattan's Far West Side.(New York)

From: Fordham Urban Law Journal | Date: September 1, 2005| Author: | Copyright information

INTRODUCTION

On January 19, 2005, the Bloomberg Administration revealed the details of a plan to transform Manhattan's Far West Side. (1) The plan authorizes the extension of the Number Seven subway line and the construction of new office space, housing, streets, and parks. (2) The Bloomberg Administration intends to finance these public improvements outside of New York City's capital budget. A newly created local development corporation called the Hudson Yards Infrastructure Corporation will issue bonds backed by revenues that the new development is expected to generate. (3) ...

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