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City and Federal Government Pledge $75 Million for LIC

  LONG ISLAND CITY REZONING & DEVELOPMENT  
  QUEENS COMMUNITY DISTRICT 01     QUEENS COMMUNITY DISTRICT 02  
July 28, 2009
The New York Times

The City and the Federal Government plan to invest more than $75 million for improvements to Long Island City (LIC). The project will improve traffic flow and reconfigure the area to be more accessible for pedestrians. The City will contribute $22.5 million, while the Federal Government will add as much as $56 million, including stimulus funds. The City hopes to encourage development of the LIC business district, although the recent drop in the Manhattan office market has slowed this process.