The Hugh L. Carey Battery Park City Authority is a Class A New York State public benefit corporation. Its mission is "to plan, create, co-ordinate and maintain a balanced community of commercial, residential, retail, and park space within its designated 92-acre site on the lower west side of Manhattan" in New York City. The site is now known as Battery Park City.
The BPCA was created in 1968 (L. 1968, ch. 343) to redevelop outmoded and deteriorated piers, a project that has involved reclaiming the land, replanning the area and facilitating new construction of a mixed commercial and residential community. The authority's board is composed of seven uncompensated members who are appointed by the governor and who serve six-year terms. N.Y. Pub. Auth. sec. 1973. The BPCA is invested with substantial powers: it can acquire, hold and dispose of real property, enter into lease agreements, borrow money and issue debt, and manage the project. N.Y. Pub. Auth. sec. 1974. Like other public benefit corporations, the BPCA is exempt from property taxes and has the ability to issue tax exempt bonds. N.Y. Pub. Auth. sec. 1981.
Famous quotes containing the words park, city and/or authority:
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