United States Senator Charles E. Schumer and New York State Senator Daniel Squadron announced that they have secured funding commitments to use a portion of the remaining Lower Manhattan Development Corporation (LMDC) federal dollars to begin the completion of the East River Waterfront Park, redevelopment of Pier 42, and completion the continuous green ribbon park around Lower Manhattan, connecting the Hudson River Park to the East River Park and beyond. Schumer and Squadron urged the Lower Manhattan Development Corporation (LMDC) in November of last year to fund the development of Pier 42 and complete the park, using a portion of the $20.4 billion in funding Schumer secured for lower Manhattan in the aftermath of the September 11th attacks. Agreement between the LMDC, Port Authority of New York and New Jersey, and the City of New York to make an initial investment of $14 million will begin the process of redeveloping Pier 42 into parkland and could include the demolishing of the existing shed.
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