Herbert E. Berman President Roosevelt Island Operating Corp. e-mail: HBerman@rioc.com

A long-held dream of creating a world-class recreational amenity at Southpoint is poised to move forward this year as final design work is being prepared for stabilizing a 12-acre site on our southern tip for public access and enjoyment.

Residents and others will get a chance to review and comment on the design at a public review session I anticipate will be held in the late spring. Groundbreaking is scheduled for early 2008, so there will be no disruption of Fourth of July festivities this year. Plans are for the area to remain open during construction as much as possible.

The $12 million project has been made possible by support from our State and local elected representatives, especially Councilmember Jessica Lappin, who has shepherded a $3 million initial allocation through the City budget process for use at Southpoint. The State budget includes $4 million for Southpoint, and we have been able to commit $4 million in RIOC’s own reserve funds towards Southpoint.

I want to emphasize that RIOC is able to invest the $4 million in Southpoint’s re-emergence because of sound and prudent management of our fiscal affairs that has made us a model for public-benefit corporations across the State. It is because of that prudence that we have been able to create our first self-generated capital program, which has resulted in many of the improvements – new lighting, street repairs, garage upgrades, enhanced recreational facilities – that have made life better on the Island.

The first phase of the Southpoint project includes three elements – stabilizing the Renwick ruins and making them accessible to the public, opening public access to the area north of the ruins, and generally improving infrastructure throughout the area to be able to support the next phase of the project.

The final design, being prepared by the firm of Wallace, Roberts and Todd, is following along the lines of the master plan for Southpoint jointly developed in 2005 by RIOC and the Trust for Public Lands, which remains our partner in the final development. That jointly-prepared master plan will transform Southpoint into a unique public amenity, adding to an unparalleled inventory of historically-significant sites including the Lighthouse (also designed by James Renwick, Jr.), Octagon Tower, Blackwell House and the Tram itself.

There is more information on development plans, including information about our partnership with the Trust for Public Lands, on our website at www.rioc.com.

Let me also introduce some more new members of RIOC’s legal and finance staff.

Arthur Eliav, who interned in RIOC’s legal department while attending Benjamin Cardozo School of Law, has joined us as Assistant Counsel. Edith Mayfield, who spent 16 years working as a paralegal at the Battery Park City Authority, has joined the legal team at RIOC, as well.

Othniel Maragh, a graduate of Clark Atlanta University (and a point guard on the basketball team there), is a new purchasing assistant. Nancy Zee, who has 20 years experience in accounting, is keeping tabs on our accounts.

Please join me in welcoming them to Roosevelt Island.