Approval of Recovery Bonds Will Create Over 230 NYC Construction Jobs
The board of the New York City Capital Resource Corporation gave preliminary approvals for the allocation of Recovery Zone Facility Bonds to assist the construction of two medical facilities in the Bronx and Queens that represent nearly $68 million in private investment and would create or retain more than 230 permanent and construction jobs.
Arthur Management Corporation of the Bronx plans to use up $19.8 million in triple-tax-exempt Recovery Zone bond financing to construct a five-story, 605-space parking facility for St. Barnabus Hospital in order to increase parking capacity for visitors, employees, and patients. The $25.7 million facility will be located at 4422 Third Avenue in the Bronx.