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Labor Leaders Unveil $750-Mil Development Fund

NEW YORK CITY-Mayor Michael Bloomberg and city labor leaders unveil a $750 million initiative for housing and commercial development throughout the city.

By Glen Thompson | Updated on January 18, 2002

NEW YORK CITY-AFL-CIO president John Sweeney, mayor Michael Bloomberg and several local labor officials met yesterday at the Central Labor Council’s new Union Square offices to outline a $750-million, labor-funded housing and community investment initiative.

Sweeney explained the investment commitment of labor pension capital earmarked for housing and commercial development throughout the city. “Labor is committed to New York,” Sweeney said. “After the devastation of Sept. 11, we want to do something tangible for the economic recovery by putting workers’ pension dollars to work for this great city.”

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