Under the approved subsidy draft, tenants who sign or renew atwo-year lease within the "Immediate Impact Zone" (the area southof Chambers St. and west of Broadway, and the entirety of BatteryPark City) will be eligible for a grant of 30% of their monthlyrent totaling up to $12,000 over two years. Tenants in the "LessImmediate Impact Zone," (outside of the immediate zone but South ofCanal St. and Rutgers St.) will be eligible for a maximum of $6,000over the same period.

All tenants and owners who occupied their apartments as of Sept.11 will also be eligible for an additional grant of $1,000.According to the draft, 5000 housing units are included in theImmediate Impact Zone and 22,200 units are in the second designatedarea.

A second approved section of the draft entails a $10-millionallocation for businesses located south of 14th St with fewer than500 employees. Maximum benefits cover 50% of eligible trainingcosts. The plan is estimated to cover 5,000 individuals.

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