LMDC is a joint State-City corporation formed in 2001 by then-Governor George Pataki and then-Mayor Rudy Giuliani to manage the Federal grants awarded for the recovery of Lower Manhattan after September 11th 2001 and to oversee the rebuilding and revitalization of Lower Manhattan. LMDC activities and programs are funded through a Community Development Block Grant from the United States Department of Housing and Urban Development (HUD). LMDC is governed by an eight member Board of Directors: four appointed by the Governor and four appointed by the Mayor.