St. Barnabas Hospital/Arthur Management Project

On 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). 

Testimony:

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. 

Testimony of L. Toni Lewis, MD, President, Committee of Interns and Residents, SEIU Healthcare, before the NYC Capital Resource Corporation regarding tax-exempt financing for St. Barnabas Hospital.

December 9, 2010

Testimony Justin Wood, Research Director, Committee of Interns and Residents, SEIU Healthcare, before the NYC Capital Resource Corporation regarding tax-exempt financing for St. Barnabas Hospital.

December 9, 2010

Testimony Stacy De-Lin, MD, Organizer, Committee of Interns and Residents, SEIU Healthcare, before the NYC Capital Resource Corporation regarding tax-exempt financing for St. Barnabas Hospital.

December 9, 2010

Other Materials:

For the city's original cost-benefit analysis, please view the project materials. 

Recovery Zone Facility Bonds benefitting Arthur Managment/St. Barnabas are profiled in GJNY's report, Kept in the Dark: Poor Reporting on New York City's Recovery Zone Facility Bond Deals