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"We are going to go through a capital campaign," which will consist of equity debt, bonds, grants and fundraising from the grass roots, he said. They were committed to working with the attorney general's Charities Bureau, which supervises charitable organizations and works to protect donors, he said. El-Gamal testified at the hearing, saying they were opposed to designating the building a landmark because it does not meet the requirements of historical significance. "This is not the Woolworth building, this is not the Chrysler building," he said later in an interview. The five-story building on Park Place, a few blocks north of Wall Street, was completed between 1857 and 1858 and is an Italian Renaissance-inspired palazzo. It formerly housed a department store, which closed after the building was damaged on Sept. 11. Muslim prayer service is held at the building at least one day a week. Landmark status could require the owners to obtain the approval of the city's Landmarks Preservation Commission before making significant changes. It's unlikely that, if granted such status, the building could be demolished. The city's 11-member Landmarks Preservation Commission is expected to vote later this summer on whether the building meets the standards of architectural, cultural and historic characteristics to qualify it for landmark status.
[Associated
Press;
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