NEW YORK -- Rep. Jerrold Nadler today praised the Lower Manhattan Development Corporation for its draft assistance plan for individuals, which will subsidize renters and homeowners in lower Manhattan.  Under the Congressionally mandated plan, tenants would receive up to 30% of their rent or mortgage payments with a cap of $6000 and $12000 respectively, over the next two years.  

“This is exactly what I envisioned when Congress mandated that a minimum of $500 million out of the $2.7 billion in Community Development Block Grant money be spent on relief to residents and small businesses in lower Manhattan,” said Rep. Nadler.  “These subsidies will provide the incentive that people need to remain in lower Manhattan which, in turn, will help to maintain a stable client base for the small businesses in the area.”

Nadler went on to say, “While no one can ever completely alleviate the pain and trauma resulting from Sept. 11, the Federal government should be doing everything it can to help ease the transition back to a normal life in lower Manhattan.  I want to thank the Governor, Mayor, Empire State Development Corporation and Lower Manhattan Development Corporation for moving to implement this program and offer my continued assistance in making sure lower Manhattan is once again the center of the financial world.”

Rep. Nadler has served in Congress since 1992.  He represents the 8th Congressional District of New York, which includes parts of Manhattan and Brooklyn, including the area around "ground zero."
 

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