Governors Island: Governors Island is located in Upper New York Bay and is part of the borough of Manhattan. From1783 to 1966 the island was used as a US Army post and from 1966 to 1996 it was used as a US Coast Guard installation. More Recently, the city  has taken full control of the Islands development from New York State.  This new development plan includes a large recreational area with playing fields, woodland, and hills with scenic views of the Statue of Liberty and other landmarks.  The city hopes that these new plans will serve as an importnat source of revenue in the future.