Create a Partnership Between Commerce and Culture
As a designated Historic District, the Seaport enjoys certain protections, but it lacks a governing body to protect its historic character during a time of extensive new development by both public agencies and private developers. Such an entity must be driven by a mission to enrich and balance between the culture, history, commerce, and public space.
This entity could evolve from a task force into a Local Development Corporation with authority to coordinate public agencies, to operate and maintain public areas, to develop programming, and to have some degree of power to make binding decisions.
How can we Ensure Sustainability?
Develop a Governance Mechanism to carry out the vision for the City’s 2.1 mile East River Waterfront Plan with the Seaport at its heart. A new governing entity for this waterfront between Battery Park and Pier 42—including piers and slips— could take different forms:
- a spinoff within EDC
- a Deputy Mayoral Task Force with direct authority over City agencies
- an expansion of the downtown B.I.D.
- a combination of the above
Create funding mechanisms for programming and maintenance beyond LMDC’s initial $150 million capital grant for the East River Waterfront Plan. New tax structures and real estate development could funnel revenue to the area
Integrate the cultural institutions into partnerships or a trust to strengthen their effectiveness