"This program has been a critical tool in the rebuildingeffort," says Gov. George Pataki. "The approval of this extensionwill ensure that we can continue to draw upon these vital resourcesand fully realize our vision for the city."

The extension was included as part of the 2005 federal budgetpresented by President George W. Bush. The extension was proposednearly a year ago at the request of Pataki and Mayor MichaelBloomberg. The duo then actively worked with Congressional leadersto turn the proposed extension into a reality.

Projects supported by Liberty Bond financing include the$225-million, 51-story residential development at 2 Gold St. andthe $82-million development at 90 Washington St. that is expectedto have 368 studio and 30 one-bedroom apartments. Financing in theamount of $145.2 million was approved for 63 Wall St., a 410,000-sfcommercial office building being converted to 476 residentialrental apartments. Also in the works is the $1-billion inducementfor Goldman Sachs headquarters project in Lower Manhattan.