"The programs funded under this plan will help provide apermanent tribute to the families and friends we lost and willbreathe new life into a vibrant Lower Manhattan," says HUDSecretary Alphonso Jackson.

Since the tragedy, HUD has announced more than $3.4 billion indirect assistance to New York to help local businesses andresidents and to begin the work of redeveloping the area. Proposedby the Lower Manhattan Development Corp., the funding plan willalso stimulate cultural development and tourism by promoting theTribeca Film Festival and the Splendor of Florence. The filmfestival has brought in more than $60 million in revenues. TheSplendor of Florence Festival is new to New York. It celebrates theartistic, cultural, musical and culinary contributions Florence,Italy.

In May, a comprehensive game plan for the redevelopment of LowerManhattan was initiated. Included in the effort arequality-of-life-projects, tourism and business promotions. Aproposal to construct a new East River rail tunnel connecting LowerManhattan to the Jamaica Long Island Rail Road station and John F.Kennedy Airport is also part of the effort. In addition amulti-million dollar advertising campaign to brand the neighborhoodas a destination spot is ongoing. The campaign partners the LMDC,the Empire State Development Corp., Downtown Alliance and WallStreet Rising.