Committee forwards Pier 70 DDA amendment to allow interim maintenance reimbursement

Port project manager Christine Maher told the Budget and Finance Committee that, because vertical development at Pier 70 has been delayed, special taxes originally intended to fund port‑accepted infrastructure maintenance are not yet available. The proposed second amendment to the Pier 70 disposition and development agreement with Brookfield Properties would permit maintenance costs incurred by the Port or developer to be treated as reimbursable project costs until special taxes suffice.