1. Informational meeting with staff and preliminary assessment of eligibility.
2. Submission of information necessary to prepare the notice of hearing (must occur at least six week in advance of NYCIDA Board meeting when Board action is desired).  Please use our online form.  
3. Application submission (must occur three weeks in advance of NYCIDA Board meeting when Board action is required).
4. Some programs require additional approvals prior to seeking NYCIDA benefits (see below.)
5. NYCIDA Public Hearing (NYCIDA's notice of hearing and proposed project description must be published 30 days in advance of hearing).
6. NYCIDA Board of Directors' Inducement.
7. NYCIDA Board of Directors' Authorization (Inducement and Authorization approvals can be sought at same meeting).

Liberty Bonds 
New York Liberty Bond applicants must receive selection for the program by the City and State prior to NYCIDA Board action. 

Empowerment Zone
Empowerment Zone Facilities Bond applicants must be selected by the Upper Manhattan Empowerment Zone or Bronx Overall Economic Development Corporation prior to NYCIDA Board action. 

Bond Programs
Bond Program transactions require the following additional processes after obtaining NYCIDA Board of Directors’ Authorization:

• Following NYCIDA Board Authorization, Mayor's sign-off pursuant to Tax Equity and Fiscal Responsibility Act ("TEFRA") is requested and typically obtained within two weeks.
• New York Liberty Bond transactions must receive designation by the Mayor and the Governor in addition to TEFRA sign-off.
• Empowerment Zone Facilities Bond transactions must receive Mayoral designation in addition to TEFRA sign-off.
• Working group reviews bond and other transaction documents.
• For public offerings, marketing the bonds to investors commences upon receipt of TEFRA sign-off.
• Closing - bonds sold and proceeds for project costs deposited in a trustee-held account.

Industrial Incentive Programs 
Small Industry Incentive/Industrial Incentive Program transactions require the following additional processes after obtaining NYCIDA Board of Directors’ Authorization:

• Following NYCIDA Board Authorization, working group reviews documents needed to effect project and NYCIDA transaction. 
• Closing (NYCIDA transaction typically occurs simultaneously with closing on facility acquisition and financing).

Transactions eligible for assistance that have financing commitments can typically complete the application and approval procedures within 90 days or less.  For schedule information, visit Public Hearing Notices & Schedules.

NYCIDA assistance must be requested prior to entering into project commitments unless existing commitments are contingent upon subject to NYCIDA assistance.

For the most part, triple tax-exempt bond proceeds may be used to reimburse project expenditures incurred no earlier than 60 days prior to NYCIDA Board of Directors Inducement.

Conditional Language for Industrial Development Agency
It is acknowledged by Seller and Purchaser that Purchaser will be seeking financing for the acquisition of the Premises through the New York City Industrial Development Agency and that this agreement is conditioned upon the receipt of an inducement resolution from said agency, in an amount and on terms and conditions acceptable to Purchaser. If for any reason whatsoever an inducement resolution complying with the foregoing requirements is not issued on or before ______, 20___ then this contract shall be null and void and of no further force and effect, except that the Escrowee, upon receipt of written demand from Purchaser, shall promptly remit to Purchaser the $_____ deposit given hereunder together with any and all interest earned thereon.