VOLUME 1, NUMBER 3
RECONNECTING DOWNTOWN POST-SANDY
NOV. 21 - NOV. 27, 2012
Downtown Alliance launches $1 million grant program BY TERESE LOEB KREUZER
Photos by Terese Loeb Kreuzer
Elizabeth Berger, president of the Downtown Alliance, announcing a grant program for small businesses affected by Superstorm Sandy that are in Flood Zone A below Chambers Street.
On the morning of Nov. 19, Elizabeth Berger, president of the Downtown Alliance, stepped up to a lectern set up on chilly Stone Street and made an announcement that likely warmed the hearts of all who heard her. The Downtown Alliance is launching a program to give grants to small businesses that were pummeled by Superstorm Sandy. The Downtown Alliance has funded the program with $1 million and has asked others to match or exceed the Alliance’s initial donation. Trinity Wall Street, Citibank, The Durst Organization, the Howard Hughes Corporation, the FiDi Association and Goldman Sachs have already put money in the kitty. The fund now has almost $1.5 million to disburse and hopes and expects to have more. “This program is designed to get the small businesses of Lower Manhattan, who are really key to our success as a whole new kind of central business district, back in business,” said Berger. “It will complement other relief efforts that are already under way.” The initiative, called “Lower Manhattan: Back to Business Small Business Grant Program,” is for retailers, restaurants and
Downtown hotels, closed, open and reopening BY TERESE LOEB KREUZER Superstorm Sandy was not an ideal hotel guest. She smashed some Downtown hotels to bits, spared others for reasons of her own and left others with so much mess to clean up that they weren’t able to open for weeks after she signed out. NYC & Company, New York City’s tourism arm, estimated that 30 of its member hotels had to close at least temporarily
because of Sandy. A disproportionate number of these were in Lower Manhattan. The Best Western Seaport Inn at 33 Peck Slip took a heavy hit. The website (www.seaportinn.com) says, “We are sorry, due to the extensive damage caused by Hurricane Sandy to the Downtown area we are not able to open for business at this time.” No rooms are shown as available until Jan. 2. In January, the room rates posted on the website range from $160 a
night to $230, depending on the day of the week. The World Center Hotel New York at 144 Washington St. is also still closed as is the Holiday Inn Express New York City Wall Street at 126 Water St. The boutique Wall Street Inn with 46 rooms at 9 South William St. is closed but hopes to reopen soon. “We sustained damage Continued on page 6
service providers affected by Superstorm Sandy. Qualifying small businesses must be located within Flood Zone A on the south side of Chambers Street and below. They must have 50 or fewer employees and gross annual revenues of $5 million or less. They must have been open for at least a year or have a five-year lease. They must be open at the time of application, or for those located in buildings closed for storm-related reasons, must be scheduled to open by April 2013. Businesses in that situation will receive their grants when they actually reopen. Finally, they must be able to document loss and replacement costs not covered 100 percent by insurance or other reimbursement for property, equipment or inventory loss due to up to 10 days of street closures, lack of utility service or related conditions. The maximum grant is $20,000. “Our goal is to get the money out there quickly,” said Berger. “Within the next 10 days, we will post the application online and announce where small businesses can meet with representatives for their grant interviews.” Applications will be processed on a first come, first served appointment basis for as long as the funds are available through Continued on page 2
IN THIS ISSUE
BUSINESS FUND . . . . . . . . . . 2 BROWNIES . . . . . . . . . . . . . . . . 3 SOUTH ST. SEAPORT . . . . . 5
now
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