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GlobeSt.com UPDATE: IDA Approves Liberty Bond Program

NEW YORK CITY-The Industrial Development Agency's board of directors took the $8-billion Liberty Bond funding initiative a step closer to reality by voting to approve the program at its monthly meeting, held this afternoon.

By Glen Thompson | Updated on August 13, 2002

NEW YORK CITY-One week to the day after the New York State Housing Finance Agency awarded the first-ever Liberty Bond financing to three Lower Manhattan multifamily projects (See: Tempers Flare Over $340M ‘Liberty’ Funding ), the New York City Industrial Development Agency has taken a step toward meting out the commercial portion of the $8-billion initiative.

At its monthly meeting, held earlier this afternoon at the agency’s 110 William St. headquarters, the Liberty Bond Program funding allotted for commercial development was approved by the IDA board. According to a spokesman for the city’s Economic Development Corp., which oversees the IDA, no specific actions or guidelines regarding the allocation of the bonds was discussed at the meeting.

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