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Brooklyn Bridge Park Conservancy Pier 6

Brooklyn Bridge Park’s Committee on Alternatives to Housing Releases Consultant Report

June 9, 2011

by Brooklyn Bridge Park on Jun 9, 2011

Public Meeting of the Committee on Alternatives to Housing to be held on Tuesday, June 14 at 2pm

Brooklyn Bridge Park’s Committee on Alternatives to Housing today released a report by Bay Area Economics (BAE), its independent consultant. The report can be found on-line at www.brooklynbridgeparknyc.org.

The current plan to fund ongoing park maintenance includes dedicated revenue streams from the build-out of development sites at Pier 6 and John Street. BAE examined nine other potential revenue streams based on established parameters adopted by the Committee on Alternatives to Housing. The report released today incorporates the consultant’s research on international best practices and extensive public feedback, including written and oral testimony delivered at a March 31st public hearing.

The Committee on Alternatives to Housing will meet on Tuesday, June 14th at 2pm at the Brooklyn Public Library, Brooklyn Heights Branch, 280 Cadman Plaza West on the 1st floor. The Committee will vote on whether or not to pass the report on to the Brooklyn Bridge Park Board for review. The meeting is open to the public, though no public comments will be taken.

– – –

BAE’s Draft Report was released on February 22, 2011 and a 60-day public comment period followed to facilitate feedback. A public hearing was held on Thursday, March 31st at St. Francis College and written testimony was submitted throughout the 60-day comment period.

The 2002 Brooklyn Bridge Park Memorandum of Understanding stipulates that the park must be self-sustaining and outlines an operations and maintenance funding plan that includes dedicated revenue streams from the build-out of development sites at Pier 6 and John Street. In March 2010, the Committee on Alternatives to Housing was established to oversee an analysis of potential revenue sources that could replace all or a portion of the revenues currently projected from the development sites. The sources the Committee may consider must meet two threshold parameters:

1. The alternative source does not, in any way, displace revenue to which the City is otherwise entitled, and

2. The timing of, and level of risk associated with, the revenue projected to be generated by such source is consistent with the projected timing of, and risk associated with, the revenue projected to be generated by the residential development at the John Street and Pier 6 sites.

Brooklyn Bridge Park Corporation, known as Brooklyn Bridge Park, is the not-for-profit entity responsible for the planning, construction, maintenance and operation of Brooklyn Bridge Park, an 85-acre sustainable waterfront park stretching 1.3 miles along Brooklyn’s East River shoreline. More information is available on the official park website: www.brooklynbridgeparknyc.org

Brooklyn Bridge Park is one of the nine waterfront destinations that comprise NYHarborWay, an initiative of the Bloomberg Administration to make the New York Harbor a major recreational destination for New Yorkers and visitors. Spearheaded by NYC & Company, the initiative eventually will connect the nine major waterfront points of interest by ferry or bike greenways. In addition, NYHarborWay will develop a cohesive programming, marketing and communications platform which will drive visitation to the nine waterfront sites. In addition to Brooklyn Bridge Park, the destinations are Governors Island, Hudson River Park, The Battery, Ellis Island, Liberty Island, Atlantic Basin, the East River Esplanade and Liberty State Park.

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