Lower Manhattan Development Corporation
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| Subsidiary | |
| Founded | November 2001 |
| Parent | Empire State Development Corporation |
| Website | renewnyc |
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 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.
In February 2003, the LMDC chose Daniel Libeskind's master plan for the reconstruction of the World Trade Center complex. The organization also sponsored the international design competition for the World Trade Center Memorial, which resulted in Michael Arad and Peter Walker's Reflecting Absence being chosen as the winning design in January 2004.
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