Monday, December 14, 2009

Hudson River Park - The Danger of Relying On Funding Schemes


Hudson River Park, one of the city's newest green belts, is facing a serious shortage of greenbacks.

City Parks Commissioner Adrian Benepe has warned that the five-mile strip — from Battery Park to 59th Street — is supposed to generate its own cash for operations.

"There will probably soon be a crisis at Hudson River Park," said Benepe. "They are so limited in what they can do that they will not have the money to maintain the park."

Connie Fishman, president of the Hudson River Park Trust, said one of the principal sources of cash is parking fees collected at Pier 40. They account for nearly half of the park's $15 million annual operating budget.

But the roof of the pier is crumbling, forcing officials to reduce the number of parking spots.

Read More: 

New York Post - December 14, 2009 - By Tom Topousus  & Rich Calder

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