$100M fund created for WTC arts center

October 06, 2010 01:30PM

Mayor Michael Bloomberg and a rendering of the WTC Performing Arts Center

A $100 million fund was created today for the Performing Arts Center at the World Trade Center site, as part of a master plan to use federal funds to redevelop Lower Manhattan and revitalize the cultural landscape there, Mayor Michael Bloomberg, Governor David Paterson and Assembly Speaker Sheldon Silver announced. The federal funds, which are being managed by the Lower Manhattan Development Corporation, will also be used for local infrastructure upgrades and economic development at the East River Waterfront Esplanade and Piers Project, plus the completion and maintenance of parks and transportation improvements. LMDC is working to develop proposals for these projects, and will solicit public input, with the board expected to vote on the proposals at its next meeting in November. “Our collective desire to put $100 million towards the development of the Performing Arts Center at the World Trade Center site makes clear that the cultural venue is a critical part of the ongoing revitalization of Lower Manhattan,” Bloomberg said. TRD