Philip R. Pitruzzello has replaced David Emil as president and chief executive officer of the Battery Park City Authority.
Pitruzzello joins the authority after a one-year stint with the recently consolidated State of New York Mortgage Agency and the New York State Housing Finance Agency, where he served as senior vice president and counsel.
Emil, who could not be reached for comment, left the authority last month after six years as president and chief executive officer to take a private sector job.
The authority, created by the New York State legislature in 1968, sells bonds to develop the 92-acre Battery Park development in lower Manhattan.
"It has long been known by the [authority's] board that David Emil wished to return to the private sector," said authority chairman Harry W. Albright Jr. in a prepared statement.
"Mr. Pitruzzello is eminently qualified to pick up where David has left off," Albright added. "I know of no one better qualified, who understands the workings of this complex organization as well as Philip."
Authority officials list among Emil's accomplishments the refinancing last year of $250 million of authority debt. The complicated bond refunding produced millions of dollars of savings, and followed lengthy negotiations between the authority and state and city officials.
Emil also helped build a new school and an affordable housing building on the authority's property in lower Manhattan, officials said, and has played a role in the next phase of residential construction at the authority.
Pitruzzello is no newcomer to Battery Park City. Before joining the state mortgage and housing agencies, he spent six years as the authority's counsel. During that time, Pitruzzello also earned the title of chief operating officer.
The recent gubernatorial election, however, could have an impact on how long Pitruzzello remains at his new job. The agency's president does not have a term of office and generally serves at the pleasure of the board, whose members are nominated by the governor and confirmed by the Senate.
Gov. Mario Cuomo lost to Republican candidiate George Pataki last month. Pataki will have his first opportunity to nominate a board member when the term of authority chairman Harry W. Albright Jr., a Republican, expires at the end of 1996.
Pitruzzello is a graduate of the University of Chicago and Boston University School of Law. Pitruzzello served at the New York State Medical Care Facilities Finance Agency, Housing Finance Agency, Power Authority of the State of New York, and as assistant counsel to the governor.
