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Lower Manhattan, also known as Downtown Manhattan or Downtown New York, is the southernmost part of Manhattan, the central borough for business, culture, and government in New York City. Lower Manhattan is defined most commonly as the area delineated on the north by 14th Street , on the west by the Hudson River , on the east by the East River , and on the south by New York Harbor (also known as Upper New York Bay ).
Manhattan traces its origins to a trading post founded by colonists from the Dutch Republic in 1624 on Lower Manhattan; the post was named New Amsterdam in 1626. The territory and its surroundings came under English control in 1664  and were renamed New York after King Charles II of England granted the lands to his brother, the Duke of York ...
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- Organization structure
The Lower Manhattan Development Corporation was formed in November 2001, following the September 11 attacks, to plan the reconstruction of Lower Manhattan and distribute nearly $10 billion in federal funds aimed at rebuilding downtown Manhattan. It is a subsidiary of the Empire State Development Corporation, which is a New York state public-benefit corporation.
The Lower Manhattan Development Corporation was formed in November 2001 by then-Governor George Pataki and then-Mayor Rudolph Giuliani. The LMDC is a joint State-City corporation governed by a 16-member Board of Directors, half appointed by the Governor of New York and half by the Mayor of New York. As a result, Pataki and Giuliani appointees dominate the LMDC. Its original chairman was John C. Whitehead, a former Deputy Secretary of State and head of Goldman Sachs. One of its first projects was
LMDC does not own the World Trade Center site although it partners with the Port Authority on some elements of development.
Two members of the LMDC's board have asserted that up to $45 million allocated to the LMDC from a "community enhancement" fund in May 2005 has not been directly accounted for, and that up to $15 million from that stipend might have been spent in areas other than those it had been explicitly stipulated for. Former Attorney General Democrat Eliot Spitzer became governor in 2007, rethought his condemnation, and announced a "reinvigorated LMDC" that would continue the revitalization of Lower Manhatt
The LMDC obtained a patent for one of its 9/11 Memorial endeavors in 2005. Engraving for a National Memorial, U.S. Patent D506,860, designed by Michael Anthony Stahl of Huntsville, AL. was registered with the U.S. Patent and Trademark Office on June 28, 2005.
Aug 23, 2018 · Lower Manhattan or "downtown" is defined most commonly as the area delineated on the north by 14th Street, on the west by the Hudson River, on the east by the East River, and on the south by New York Harbor (also known as Upper New York Bay).