NYC Arts Developers Worry about Funding

With the city of New York dedicating tremendous manpower and financial resources to World Trade Center recovery efforts, the city’s arts leaders and developers have expressed concern about current a future cultural projects, reports the New York Times.

Lincoln Center’s $15 billion renovation has already been put on hold, and developers are worried that the new Mets’ and Yankees’ stadiums and the Guggenheim Museum project may lose funding, with resources being redirected to the World Trade Center.

In addition, developers are concerned that another major funding source, large corporations, may become too strapped to support the arts, as a number of companies suffered significant losses as a result of the attacks.

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