The Bloomberg administration has proposed a broad revamping of the city-state agency overseeing the rebuilding of Lower Manhattan, city and state officials said yesterday.

In presenting the timetable, John C. Whitehead, chairman of the Lower Manhattan Development Corporation, the city-state agency overseeing the rebuilding, said no decisions had been reached about individual projects.

Some environmental advocacy organizations said they believed that the schedule set by the corporation, a city-state agency, was feasible, if optimistic.

Mr. Higgins of the development corporation, a city-state agency established after Sept. 11, said the assistance program would be accepting applications by late summer.

The development corporation, the city-state agency formed to direct the rebuilding effort, was always intended to have a limited life.

The new city-state agency that will manage Governors Island will be headed by Randy A. Daniels, New York's secretary of state.

The acquisition will pose a challenge to the city-state agency, which needs to make the island self-sustaining.

While it was created as a city-state agency, it is a subsidiary of the Empire State Development Corporation and has always been dominated by the state.

Mr. Green had also proposed the creation of a new city-state agency that would oversee an aggressive effort to bring renewed economic life to the area around the World Trade Center site.

The city-state agency created to oversee that redevelopment must finally get organized.