The Real Deal New York

Brookfield exec Ric Clark to be named chair of Downtown Alliance

The BID is one the city's most powerful
June 20, 2017 10:10AM

From left: Brookfield Property Partners’ chief Ric Clark, President of the Alliance for Downtown NY Jessica Lappin and Lower Manhattan (Credit: Getty Images)

Brookfield Property Partners’ TRData LogoTINY chief Ric Clark is expected to be named chairman of one of the city’s biggest business improvement districts.

Clark will succeed Alan Scott as chairman of the Downtown Alliance if the BID board’s vote goes as expected, the New York Post reported. Clark, who’s been on the Alliance’s board for a little over a year, will be in charge of setting the BID’s long-term goals and overseeing its budget. The organization’s executive director, Jessica Lappin, oversees the Alliance’s day-to-day operations.

In 2016, the Downtown Alliance spent $20 million, making it the biggest spender of the city’s 73 BIDs. The Alliance’s board include some of the city’s biggest real estate players — Brookfield, Time Equities, TF Cornerstone and Jack Resnick & Sons, to name a few. Though BIDs are often thought of as quality-of-life boosters — focusing on trash collection and safety — the Alliance has grown into a powerful promoter of commercial and residential development. [NYP]Kathryn Brenzel