Brooklyn Bridge Park committee explores funding alternatives

Faced with an annual operating budget of $16 million, the Brooklyn Bridge Park Corporation is exploring alternatives to a planned housing development to cover the costs of running the new Brooklyn Bridge Park, according to Brownstoner. The planned Watchtower Properties, which were slated to be built in the park and would have defrayed some of the park’s costs, have been controversial among some locals, who would prefer to keep the park a development-free zone. Among the options currently being considered are parking lots, private funding and a business improvement district, which would charge local shop and property owners a regular fee. A public hearing to review the housing alternatives is slated for March 31. [Brownstoner]

Sign Up for the undefined Newsletter