A trio of New York government bigwigs have announced a pact to create a $100 million fund, drawn from federal coin, for the long-discussed Performing Arts Center to be built at the site of the World Trade Center.
Agreement — announced by Gotham Mayor Michael Bloomberg, Gov. David Paterson and Assembly Speaker Sheldon Silver — makes up one part of the process of doling out the federal funds remaining for the post-9/11 redevelopment of lower Manhattan. The Lower Manhattan Development Corp. is expected to finalize details of the fund and its uses.
Anchoring tenant for the new downtown arts center is the dance-oriented Joyce Theater, currently in Chelsea and designated the prime tenant of the complex since 2004. In 2006, LMDC allocated up to $55 million for the arts center.
Center’s current design, created by collaborators including Gehry Partners, includes a 1,000-seat theater and a secondary performance space, as well as rehearsal rooms, admin space, a plaza and a cafe.
Also receiving federal funds for the redevelopment of Lower Manhattan are efforts including include upgrades to transportation and infrastructure, park improvement and small business development.
Board of LMDC is set to vote on proposals for the use of the center’s $100 million in November.