As expected the ESDC approved a $15 million grant to modernize the Roosevelt Island Tram. This grant was a formality as the funds were already budgeted for this purpose. The complete of the press release is as follows:
7/17/2008
ESDC BOARD APPROVES $17.6 MILLION IN DOWNSTATE GRANTS
Empire State Development Corporation's Board of Directors met today in Manhattan and approved downstate grants totaling $17.6 million. Among the grants approved was $15 million to help modernize the Roosevelt Islandtram. The tram will contribute to the economic impact of Roosevelt Islandby ensuring a reliable form of transportation for residents to travel backand forth to the city.
The Roosevelt Island tram began operating in 1976. There are 20 other trams operating in the U.S. and Canada but the Roosevelt Island tram is the only aerial commuter tram in the country. Originally built as a temporary means of transportation for island residents by New York State's Urban Development Corporation, it has become a permanent part of the lifeof the island and a treasure for New Yorkers and visitors throughout the world.
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