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Pamela M. Frederick

Welcome to the Battery Park City Authority ("BPCA") investor relations website. We appreciate your interest and investment in the bonds that allows BPCA to make critical investments in public infrastructure throughout Battery Park City. We are committed to maintaining our strong bond ratings and to being as transparent as possible with the investor community and public at large.

I hope that you find this website useful as you seek to better understand the credit fundamentals of BPCA. Please do not hesitate to contact our office with any questions or suggestions that you may have.

Thanks again for your interest in our bond program.

Pamela M. Frederick, Chief Financial Officer

News & Highlights

September 3, 2020

Press Release
Battery Park City Authority Launches Ten-Year Sustainability Plan

Comprehensive Study to Guide Authority’s Efforts in Achieving a Carbon Neutral Battery Park City by 2050 – with more green space, less energy and water use, multi-modal shared streets, and better air quality

Continues and Expands Upon Neighborhood’s Environmental Legacy

The Battery Park City Authority today launched the Battery Park City Sustainability Plan, a comprehensive pathway of strategies, goals, and specific actions to achieve progressive sustainability targets over the next decade, and laying the groundwork for continued sustainability action after 2030. Among the largest neighborhood-scale sustainability plans in the United States, the BPC Sustainability Plan was developed in partnership with international sustainability consultancy Buro Happold, and responds to Governor Andrew M. Cuomo’s charge to make New York State carbon neutral by 2050.

“We can’t take Battery Park City’s green legacy for granted. Even in the midst of present challenges, it’s imperative that we strengthen our commitment to greater environmental responsibility – the future depends on it,” said BPCA President and CEO B.J. Jones. “To that end, we’ve developed this neighborhood plan with energy, waste, water, and site management strategies to help advance our efforts and illustrate to others how Governor Cuomo’s ambitious vision for carbon neutrality can be achieved. This was a true team effort and my thanks goes to the Buro Happold team, our Board members, my colleagues, agency partners, and the Battery Park City community.”

The BPC Sustainability Plan is intended as a guiding document for both BPCA and the greater Battery Park City community, and follows a comprehensive stakeholder outreach and engagement initiative, which gave shape to a collective Sustainability Vision for Battery Park City:

We envision a Battery Park City that will serve as an innovative model for urban climate action, where all of us who live, work, and spend time here mobilize to create a sustainable future.

Nearly 500 people participated in the development of this Sustainability Plan, with public roundtables, pop-ups at public events and in BPCA’s offices, and an online survey. This approach solicited ideas from the public and from BPCA staff for inclusion in this Plan – more than one-third of the Plan Sub-Actions came directly from these engagements – as well as helped BPCA identify where there is opportunity to increase awareness, seek collaborations, and facilitate programs to promote sustainability.

The BPC Sustainability Plan is also informed by robust interagency coordination. The Battery Park City Carbon Neutral Working Group, comprised of content experts in the sustainable energy field, includes representatives from the New York Power Authority, New York State Energy Research & Development Authority, Con Ed, Department of Environmental Conservation, and New York City Mayor’s Office of Sustainability.

“Battery Park City is one of New York City’s newest and most future-forward communities, so it makes total sense that the Battery Park City Authority is out in front when it comes to sustainability,” said Gil C. Quiniones, New York Power Authority President and CEO. “Governor Cuomo has a bold plan for greenhouse gas emission reduction, carbon-free electricity, and use of renewable energy for the next decades. In order for us to meet these nation-leading climate targets, we must start at home, here in New York City in one of the most vibrant, dynamic neighborhoods along our coastline. NYPA is advising BPCA on energy efficiency, building electrification, low-carbon energy systems, renewable energy supply and storage options, and greenhouse gas emissions monitoring and reporting. We look forward to working with BPCA on its sustainability efforts that are sure to set the bar for other communities to follow.”

“As New York continues to lead national conversations on our changing climate, and forward thinking models to ensure our most vulnerable populations are included in solutions to address the need for resiliency, preserving natural resources, and delivering clean, renewable energy to all, NYSERDA has proudly partnered with Battery Park City as they embark on this sustainability plan,” said Doreen M. Harris, Acting President and CEO, New York State Energy Research and Development Authority. “They are leading by example in their support of Governor Cuomo’s plan for economy wide carbon neutrality, helping us reduce our carbon footprint, and joining in our efforts to deliver meaningful and innovative clean energy and cost saving programs that result in healthier, greener communities and we congratulate them on this milestone.”

“Confronting the climate challenge before us requires everyone to identify, advocate for, and implement the best solutions for each of our neighborhoods and communities,” said Mark Chambers, Director of the Mayor’s Office of Sustainability for the City of New York. “We thank BPCA for their continued leadership and collaboration in advancing this urgent work.”

As a result of these engagements, the BPC Sustainability Plan puts forth a holistic vision of environmental sustainability, including health and wellness, environmental quality, and education, achievable through pursuit of three primary goals:

Resource Management & Reduction – Reduce the demand for energy and water, promote the creative reuse of resources, strengthen Battery Park City's resilience, enhance its ecosystems, and minimize waste to reduce its environmental footprint.

Innovation & Inspiration – Leverage Battery Park City initiatives as scalable models for sustainability to reduce the neighborhood's carbon footprint and inspire urban developments across the world to accelerate environmental action.

Education & Collaboration – Bolster engagement and education throughout Battery Park City on sustainability-related issues and actions while ensuring the benefits of those actions are shared, including improved environmental quality, reduced utility and operational costs, and higher quality of life.

The BPC Sustainability Plan is one of three documents produced by BPCA as part of its sustainability platform. It is centered around four “Topic Areas” (Energy, Water, Materials & Waste, and Site), which are further broken down into broad aspirations and discrete methods for achievement – strategies, targets, milestones, actions, and sub-actions – that chart a course toward making Battery Park City a sustainability model.

18 Strategies – are the primary methods for achieving Battery Park City’s sustainability vision and goals, and include:

in Energy—

o   Deep energy retrofits

o   Building electrification

o   Low-carbon district energy systems

o   Renewable energy supply and storage

o   Greenhouse gas emissions monitoring and reporting

in Water—

o   Water conservation

o   Water recycling systems

o   Resiliency and stormwater management

in Materials & Waste—

o   Sustainable consumption

o   Sustainable building materials

o   Waste diversion

o   Organics collection and composting

o   Construction and demolition activities

in Site—

o   Biodiversity and habitats

o   Quality of life

o   Environmental monitoring and data sharing

o   Active transportation

o   Electric vehicle infrastructure

25 Targets – are the objectives set to achieve each strategy by 2030. These targets are either Battery Park City Targets (those that will be achieved neighborhood-wide), or BPCA-specific Targets (those that will be achieved in BPCA-owned and leased spaces – both indoor and outdoor);

64 Supporting Milestones – are placed along a timeline over the next ten years, which BPCA will track to illustrate progress toward meeting the 2030 targets;

46 Actions – provide more detailed initiatives that will be implemented underneath each strategy for the purposes of achieving the targets. Actions will be either BPCA-led Actions (those to be primarily implemented and managed by BPCA) or BPC-wide Actions (those that will be implemented across Battery Park City and require collaboration with all buildings and major stakeholders); and

142 Sub-Actions – are the implementation steps to support each action. These sub-actions will be elaborated on in the Sustainability Implementation Plan.

Accompanying the BPC Sustainability Plan is a set of two enabling documents:

The Sustainability Implementation Plan outlines the policies, programs, partnerships, tools, and funding mechanisms that are available, or can be created, to assist in transforming the BPC Sustainability Plan into a reality

The new BPC Green Guidelines provides detailed technical guidance to BPCA and to Battery Park City building owners, managers, and tenants, including the steps necessary to achieve a more sustainable Battery Park City

New York State has set ambitious targets to reduce its greenhouse gas (GHG) emissions by 40% by 2030, and 80% by 2050, from 1990 levels. The State’s latest sustainability effort, the Green New Deal, accelerates the state’s action by aiming to achieve 70% renewable energy by 2030 and 100% carbon-free electricity by 2040. By aiming for net zero carbon by 2050, Battery Park City is aligning itself with global leaders and committing to prioritize climate action. Now, informed by this Sustainability Plan, BPCA will act to reduce GHG emissions and tackle sustainability issues while collaborating and sharing lessons learned with the wider New York City community and other communities around the world.

"The announcement of this ambitious green initiative for Battery Park City reflects the importance of addressing sustainability at a district-wide scale,” says Buro Happold principal Robert Okpala. “We’re excited to work with the Battery Park City Authority to deliver this far-reaching and influential plan to deliver integrated sustainable solutions to the residents and a wide range of stakeholders in Battery Park City. We believe it will inspire other neighborhoods across the United States and the world to accelerate their action against climate change."

"World leaders will soon meet to set new global targets to protect nature under the United Nations Convention on Biological Diversity,” said Angie Fyfe, Executive Director ICLEI Local Governments for Sustainability USA. “Congratulations to Battery Park City, a near neighbor to the UN headquarters, for awakening us to the richness of the area's biodiversity and its contribution to our wellbeing.  The Battery Park City Sustainability Plans and Green Guidelines remind us that if we care for nature, it will care for us." 

Said Dr. Vatsal Bhatt, U.S. Green Building Council, Vice President for Communities: “I am very excited to see that Buro Happold has tackled energy issues comprehensively for moving Battery Park City closer to energy resilience and net zero emissions by 2050; with energy modeling, deep energy retrofits for buildings, transitioning buildings to all-electric systems, expanding the district energy system supporting higher efficiency and better economy of scale, transitioning to an electricity supply to all renewable sources, tackling embodied carbon and continuous monitoring and reporting.”

“I applaud the Battery Park City Authority for putting forth an ambitious sustainability plan that will help transform Lower Manhattan’s environmental impact for the next decade”, said Congressman Jerry Nadler. "The BPCA plan confronts the urgency of the climate crisis head-on and affirms New York’s commitment to reducing our carbon footprint and mitigating the threat of climate change which affects us all".

“Our city must take proactive steps to reduce its carbon footprint and combat climate change,” said Council Member Margaret Chin. “Here in Lower Manhattan, Battery Park City has been a visionary leader in environmental sustainability for the rest of the city, and I commend its efforts to continue that track record in the years to come.”

Battery Park City has a long history of environmental leadership. Since its inception, the parks and open spaces in Battery Park City were designed with environmental quality as a priority. Starting in 2000, BPCA released environmental guidelines for residential buildings, leading to the development of buildings that were well ahead of city, and even global, standards at the time. Two years later, similar guidance was provided for commercial buildings, with the original residential guidelines updated thereafter. Decades of proactive leadership have resulted in Battery Park City being one of the most sustainable communities in New York City.

Building upon its environmental legacy, the Authority has made the following recent strides in green governance:

  • In July 2019, BPCA issued $76.3 million in Sustainability Bonds Phase 1 of its Capital Plan, which includes development of a comprehensive resiliency infrastructure – entailing perimeter storm barriers, flood protection systems, waterproofing, and landscaping to protect its residents and assets from climate change.  The Authority’s Sustainability Bond Framework aligns with the Green Bond Principles, Social Bond Principles, and Sustainability Bond Guidelines (promulgated by the International Capital Markets Association), as well as United Nations Sustainable Development Goals 11 (Sustainable Cities and Communities) and 13 (Climate Action). BPCA was selected as the Northeast Deal of the Year by Bond Buyer for its total $673 million offering, of which these Sustainability Bonds were a part.
  • On Earth Day 2019, BPCA launched its Zero Waste Initiative, a waste-reduction program that includes education, regular reporting and review of vendor practices, and pledges from more than 100 Authority staff members to reduce, reuse, and recycle. Focusing initially on BPCA’s practices at its 75 Battery Place facility, the Authority has now attained Gold-level TRUE certification (an assessor-based program that rates how well facilities minimize waste), by decreasing office waste going to landfill by 90% over the past 12 months, and will expand Zero Waste to BPCA’s other facilities – and eventually to Battery Park City’s open spaces and the greater community. To that end several Authority staff have earned certification as TRUE Zero Waste advisors, lending BPCA on-site expertise to implement the neighborhood’s Zero Waste program.
  • Also on Earth Day 2019, in partnership with Gateway Plaza – Battery Park City’s largest residential complex – BPCA launched the neighborhood’s first building-specific composting program, diverting nearly 20,000 lbs. of food waste to date.
  • BPCA’s Investment Guidelines emphasize the consideration of environmental, social, and governance (ESG) factors in the Authority’s investment strategy. BPCA encourages its investment managers to include ESG factors in their analytical processes and prohibits investment in companies that are heavily-reliant on fossil fuels.

About BPCA: Established in 1968, The Hugh L. Carey Battery Park City Authority is a New York State Public Benefit Corporation charged with developing and maintaining a well-balanced community on the Lower West Side of Manhattan. Battery Park City’s 92- acre site has achieved worldwide acclaim as a model for community renewal in planning, creating, and maintaining a balance of commercial, residential, retail and park space. For more info visit: bpca.ny.gov.      

Contact: Nick Sbordone

     (646) 531-2276

Read Press Release

September 23, 2019

Press Release
NYC Climate Week 2019

BATTERY PARK CITY AUTHORITY ANNOUNCES LINEUP OF PUBLIC EVENTS IN CELEBRATION OF NYC CLIMATE WEEK 2019

Programs Underscore Authority’s Recent Sustainability Efforts

__                                                     Climate Week NYC runs from September 23-29__

In keeping with Battery Park City’s legacy of environmental leadership, and on the heels of climate change activist Greta Thunberg’s arrival in Battery Park City’s North Cove Marina, the Battery Park City Authority (BPCA) today announced its lineup of programs and events in celebration of Climate Week NYC 2019. Run by The Climate Group, an international non-profit focused on accelerating climate action, Climate Week NYC serves as showcase for climate action worldwide. Businesses, governments, academic institutions, arts organizations, individuals and non-profit organizations are invited to participate in the week-long events program, including panel discussions, concerts, exhibitions, seminars and more. For more information and a full schedule of events, visit: www.climateweeknyc.org/events-program.

“A half-century ago the Battery Park City Authority was created with a mission of renewal, transforming the dilapidated lower west side waterfront into a haven of green space and sustainable development,” said BPCA President and Chief Executive Officer B.J. Jones. “From our environmental guidelines for new commercial and residential construction, to organic maintenance of our open spaces, to sustainable practices spanning our operations, we continue that legacy today. We celebrate Climate Week NYC with a range of events and initiatives to educate, inspire, and further our environmental responsibility efforts.”

“We saw first-hand the devastating impact of Superstorm Sandy on Lower Manhattan in 2012,” said BPCA Board Member and Resiliency Working Group Chair Catherine McVay Hughes. “The BPCA’s actions to make our community a more sustainable and resilient place to live, work, and play is more important than ever.”

BPCA’s Climate Week NYC events include:

Go Fish! Battery Park City’s Celebration of Life in the Hudson Estuary

Saturday, September 21 from 10AM-1PM in Wagner Park

  • Join experienced anglers for catch-and-release fishing and learn about life in the Hudson River. The day also features an art project inspired by imagining if endangered species could speak up for themselves. Event includes a live performance by Grammy Award-winning Lucy Kalantari & The Jazz Cats! and a Volunteers for Wildlife presentation of Raptors! – get an up-close look at these fascinating birds of prey. The presentation will be followed by a family-friendly nature walk through the gardens of Wagner Park.
  • At the event, BPCA staff will be joined by representatives from the Mayor’s Office of Resiliency and New York City Economic Development Corporation to provide information and answer questions about the Authority’s resiliency initiatives and the Lower Manhattan Coastal Resiliency (LMCR) Project.

BPCA Composting Tours @ Parks Operations Headquarters (75 Battery Place)

Monday, September 23 at 9:00AM & Tuesday, September 24 at 11:00AM

  • BPCA has a longstanding and growing composting program. Last year the Authority composted more than 20,000 lbs. of food and waste, and is on-pace to compost over 35,000 lbs. in 2019. Join us for a tour of BPCA’s composting program and see how this waste stream is diverted from the landfill. Please register by email info@bpca.ny.gov or by calling (212) 267-9700.

Young Sprouts Gardening

Tuesday, September 24 from 3:15-3:45PM, Rockefeller Park Children’s Garden

  • An introduction to organic gardening for children 3-5 years old with accompanying adults. A garden-themed story time will be followed by activities like watering, searching for butterflies and bees, and planting. A great way to introduce your preschooler to the joys of gardening and the broader natural environment as a part of Climate Week.

Elements of Nature Drawing

Wednesday, September 25 from 11AM-1:00PM, Wagner Park

  • Get inspired by the beautiful expanse of the Hudson River and New York Harbor. Embolden your artwork amidst the flower-filled and seasonally evolving palette of Wagner Park’s verdant gardens. An artist/educator will provide ideas and instruction. Materials provided. For adults ages 18 and up.

Wednesdays in Teardrop

Wednesday, September 25 from 3:30-5:00PM, Teardrop Park

  • Sustainable and recycled materials are used to create a take-home art project with the environment in mind. Afterward, games themed around the environment will be played. Designed for school-age children.

** BPC Ball Fields Resiliency Project: Public Meeting**

Thursday, September 26, 6:00PM, 6 River Terrace

  • Superstorm Sandy resulted in more than fifty lives lost, millions of traumatized residents and billions of dollars in property damage in New York City. While Battery Park City fared better than many other affected areas, it nevertheless sustained millions of dollars of damage. BPCA is currently at work on a comprehensive resiliency plan, consisting of four interrelated projects to protect the neighborhood from the threats of storm surge and sea level rise – including an initiative to protect the BPC Ball Fields used by 50,000 local youth annually. (Read more)

Drawing in the Park

Saturday, September 28 from 10AM-12:00PM in Wagner Park

  • Paint in watercolor or use pastels, chalk, and charcoal to capture the magical vistas of the Hudson River and the unique landscape of Wagner Park. An artist/educator will help participants of all levels with instruction and critique. Materials provided. For adults ages 18 and up.

Also as part of Climate Week NYC, BPCA will launch a dog waste composting initiative at its three dog runs – more information coming soon – and participate in trainings, tours, and panels in furtherance of its sustainability efforts. These include recycling training for staff, a visit to the Sims Materials Recovery Facility in Sunset Park, and a tour of BPCA’s Parks Operations headquarters for New York State agencies. Authority staff will also participate in these Climate Week NYC events on Friday, September 27:

  • BPCA President & CEO B.J. Jones speaks on a panel regarding Battery Park City Coastal Resiliency: Systemically Reducing Risk in Lower Manhattan as part of Climate Week NYC 2019’s Built Environment Symposium.
  • BPCA Assistant Director of Parks Operations Ryan Torres presents a case study about Successful Sustainability Projects at New York State’s GreenNY Forum at the Jacob K. Javits Convention Center

As a sustainability leader, over the past year the Authority has made the following strides in green governance:

  • In July, BPCA issued $76.3 million in Sustainability Bonds Phase 1 of its Capital Plan, which includes development of a comprehensive resiliency infrastructure – entailing perimeter storm barriers, flood protection systems, waterproofing, and landscaping to protect its residents and assets from climate change. The proceeds will also finance projects that enhance public access to open space, accessibility and walkability, and preserve the socio-cultural attributes of Battery Park City. The Authority’s Sustainability Bond Framework aligns with the Green Bond Principles, Social Bond Principles and Sustainability Bond Guidelines (promulgated by the International Capital Markets Association), as well as United Nations Sustainable Development Goals 11 (Sustainable Cities and Communities) and 13 (Climate Action).

  • In May, the BPCA Board approved a resolution supporting creation of a Sustainability Plan and New Green Guidelines, which will, among other things, facilitate the Authority’s commitment to “achieve a carbon neutral Battery Park City by the middle of the century, along with greenhouse gas reduction and clean energy improvement targets, a strategy for achieving those targets, and a framework for ensuring BPCA lessees and business partners meet BPCA’s enumerated goals.” Last month BPCA issued an RFP for creation of this plan, which will guide the Authority’s sustainability efforts and initiatives for the next decade. BPCA’s Sustainability Plan will be presented on Earth Day 2020.

  • On Earth Day 2019, BPCA launched its Zero Waste Initiative, a waste-reduction program that includes education, regular reporting and review of vendor practices, and pledges from more than 100 Authority staff members to reduce, reuse, and recycle. Focusing initially on BPCA’s practices at its Parks Operations Headquarters, the goal is to attain TRUE certification (an assessor-based program that rates how well facilities minimize waste), decrease office waste going to landfill by 90% over the next 12 months, and learn from this experience to expand Zero Waste to the Authority’s other spaces – and eventually to the community.

  • Also on Earth Day, in partnership with Gateway Plaza – Battery Park City’s largest residential complex – BPCA launched the neighborhood’s first building-specific composting program, diverting more than 4,000 lbs. of waste to date

  • BPCA’s Investment Guidelines emphasize the consideration of environmental, social, and governance (ESG) factors in the Authority’s investment strategy. BPCA encourages its investment managers to include ESG factors in their analytical processes and prohibits investment in companies that are heavily-reliant on fossil fuels.

  • Last October, BPCA released its first-ever, scientific study of the use of Battery Park City’s 36 acres of parks and public spaces, an effort aimed at helping BPCA meet the challenges of maintaining the high level of satisfaction that its park users enjoy. The study’s findings confirmed that Battery Park City parks are extremely successful in providing an attractive and safe environment for a varied array of user populations.

Read more about BPCA’s sustainability initiatives here.

About BPCA: Established in 1968, The Hugh L. Carey Battery Park City Authority is a New York State Public Benefit Corporation charged with developing and maintaining a well-balanced community on the Lower West Side of Manhattan. Battery Park City’s 92- acre site has achieved worldwide acclaim as a model for community renewal in planning, creating, and maintaining a balance of commercial, residential, retail and park space. For more info visit: bpca.ny.gov.                            

Contact:                              Nick Sbordone  (212) 417-3194

Read Press Release