Battery Park City Residents pay more fees and taxes than others in Lower Manhattan. Ground rent, in particular, is a contractual fee charged by the Authority.
The Ground Rent is a contractual fee between the Authority and residents. In 2022, the BPCNA uncovered buried in the Authority's bond reports that they have frozen the ground rent for corporations like Brookfield to 0% through 2069, while planning on increasing the ground rent for the 16,000 residents by 200%. Why is the Authority giving corporations a better deal than the people it is supposed to govern?
We believe that the residents of BPC deserve as good of a deal as corporations. In the Authority's bond reports, they note that corporations like Brookfield have teams of lawyers who help them negotiate a better deal. Residents do not and are left getting the short end of the stick.