Thursday, August 12, 2004.pdf

The Lower Manhattan Development Corporation (LMDC) held a meeting on August 12, 2004, at One Liberty Plaza in New York. The meeting was attended by various directors, staff members, and guests. The minutes of the July 8, 2004, meeting were approved, and Chairman John C. Whitehead reported on the cultural institutions' planning process. He explained that LMDC is working with institutions on architectural design and business planning, and an open call for architects has been issued. President Kevin Rampe reported on a funding request for additional work by the Memorial Design Team and announced that there would be a presentation on the final recommendations of the Memorial Center Advisory Committee. The Audit and Finance Committee Report was also presented, which included a review of LMDC's financial statements and a report from the Independent Certified Public Accountants. The report indicated that LMDC's financial statements fairly present the corporation's financial position and meet accounting principles generally accepted in the United States. The corporation had revenues of $326.6 million and incurred expenses of $326.3 million for the fiscal year.