NEW YORK CITY-Once the downstate chief of the Empire StateDevelopment Corp., Patrick Foye is poised to move into a bistateagency. New York Gov. Andrew Cuomo has appointment Foye to succeedChris Ward as executive director of the Port Authority of New Yorkand New Jersey, headquartered here. Additionally, Cuomo wants tofold the Lower Manhattan Development Corp. and the Moynihan StationDevelopment Corp. into the Port Authority, subject to approval bythe authority’s board, as is the governor’s choice of Foye. It’snot certain when the board will vote on these matters.

Foye, who served as ESDC downstate chief under then-Gov. EliotSpitzer, is currently Cuomo’s deputy secretary of economicdevelopment. In that capacity, he manages the state’s initiativesfor economic recovery, investment and job creation, and overseesESDC. Foye also served previously as vice chairman of the LongIsland Power Authority as as deputy county executive in NassauCounty.

As the Port Authority’s executive director, Foye will face someformidable challenges, even aside from the task of seeing the WorldTrade Center redevelopment through to completion. The agency hasmuch else on its plate, ranging from modernizing the region’s threemajor airports to keeping the heavily-trafficked Hudson Rivercrossings up and running, and faces economic headwinds in gettingall of it done. At the board’s August 19 meeting, chairmanDavid Samson said, “The Port Authority’s annual net revenues in thelast several years have not kept pace with the agency’s projectedlevel of capital spending and the mix of projects required to meetregional economic and transportation needs.”

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.