St. Barnabas Hospital/Arthur Management Project
Timeline and Latest News
December 15, 2009: The Board of the New York City Capital Resource Corporation (CRC) approved $19.8 million in tax-free Recovery Zone Facility Bonds (RZFBs) to be used by Arthur Management Corporation for the construction of a parking facility. The facility would serve St. Barnabas Hospital in the Bronx, and would replace existing parking facilities.
RZFBs are new, tax-exempt private activity bonds created under the stimulus bill (ARRA).
The public hearing for this project was held on December 9th, 2009. In her testimony, Bettina Damiani of Good Jobs New York highlighted concerns that stimulus resources are being considered for a project that will result in net job loss rather than job creation. Organizers with the Committee of Interns and Residents (CIR) Justin Wood, Stacy De-Lin, and Toni Lewis also testified, adding concerns about St. Barnabas's financial and labor record, among other issues.
For more details on this proposal and the city's cost-benefit analysis, please view the project materials.