OVERVIEW

NYCIDA programs provide companies with access to triple tax-exempt bond financing or tax benefits to acquire or create capital assets, such as purchasing real estate, constructing or renovating facilities, and acquiring new equipment. Since 1990, NYCIDA has catalyzed more than $25 billion in private investment throughout the City with the support of the staff from the New York City Economic Development Corporation.

PUBLIC DOCUMENTS

Review the latest NYCIDA financial statements and other related public documents.

BOARD OF DIRECTORS

Visit our Board of Directors page to find out who serves on the NYCIDA board.

POLICIES & LEGISLATION

POLICIES

NYCIDA Omnibus Resolution On September 12, 2006 the NYCIDA Board of Directors unimously voted to adopt policies that will result in more open and efficient practices and procedures for reviewing, authorizing and providing NYCIDA benefits. Many of these policies have been informally implemented by the NYCIDA since late 2003, but the adoption of this resolution codifies these practices. View the  Omnibus Resolution (PDF) 340 KB. NYCIDA’s Uniform Tax Exemption Policy The Uniform Tax Exemption Policy prescribes the “financial assistance” offered by NYCIDA and the conditions under which applicants will qualify to receive it. For more information about NYCIDA’s Uniform Tax Exemption Policy, download the UTEP (PDF 125 KB).

LEGISLATION

Federal Legislation NYCIDA issued bonds are qualified private activity bonds in accordance with the Internal Revenue Code. For more information about private activity bonds, view the Title 26 Information Page USC, Internal Revenue Code of 1986, as amended, Subtitle A, CHAPTER 1, Subchapter Federal LegislationB, PART IV (Private Activity Bonds). State Legislation NYCIDA is a public benefit corporation organized under Article 18-A of the New York State General Municipal Law to serve the five boroughs of New York City. For more information about Article 18-A, view the New York State Consolidated Laws Information Page, General Municipal Law, Article 18-A, Title 1.

PUBLIC REPORTS

Annual Investment Projects Report To read about how NYCEDC's projects (including those administered by NYCIDA) benefit the City through supporting investment, job retention and growth, please download Volume I and Volume II of our Annual Investment Projects Report pursuant to LL48: Volume I (PDF 1970 KB) explains the primary programs through which we provide financial assistance and explains land sales and leases. It also provides summary information on the public benefits generated by these projects, explains the methodology for estimating public benefits and describes the public/private partnership that makes NYCEDC/NYCIDA successful. Volume II (PDF 1940 KB) provides estimated City costs and City benefits associated with each project.

RESOURCES

The Mayor's Office of Industrial and Manufacturing Businesses IMB oversees and coordinates the City's industrial and manufacturing jobs policy across all involved agencies, including the Departments of Small Business Services, Planning and Finance and the New York City Economic Development Corporation, among others. The Office is dedicated to retaining, attracting and promoting the industrial job base and addressing the needs of industrial and manufacturing firms by linking them to business assistance programs and workforce development programs, and helping to simplify their interactions with government.

PRESS RELEASES

NYC Capital Resource Corporation Approves $4.4 Million In Nimble Bonds For Manhattan-Based Information Technology Firm to ExpandNYC Capital Resource Corporation Approves $4.4 Million In Nimble Bonds For Manhattan-Based Information Technology Firm to Expand

NYCIDA Assists Two Industrial Companies To Expand In QueensThe Board of the NYCIDA today gave preliminarily approval for sales and real estate tax incentive packages to assist two industrial companies to expand in Queens.

SUCCESS STORIES

View our Success Stories to read about companies that have successfully located or expanded their businesses in New York City.

CONTACT INFORMATION

New York City Economic Development Corporation (NYCEDC) c/o NYCIDA 110 William Street New York, NY 10038 NYCIDA@nycedc.com  (212) 312-3600