Manufacturing Facilities Bond Program
Manufacturers of tangible personal property acquiring, developing, renovating or equipping facilities for their own use can access triple tax-exempt bond financing and real estate, mortgage and sales tax reductions.
Not-For-Profit Bond Program
501(c)(3) not-for-profit organizations purchasing, developing, renovating or equipping facilities for their own use can access triple tax-exempt financing and mortgage recording tax reductions. Pooled bond structures to reduce costs are also available.
Exempt Facilities Bond Program
Companies developing facilities on publicly-owned docks and wharves or developing solid waste recycling facilities can access triple tax-exempt bond financing. Reductions in mortgage recording and sales taxes may also be available.
Empowerment Zone Facilities Bond Program
Developers of commercial, industrial or retail facilities, as well as other types of facilities within the areas of Upper Manhattan and the South Bronx designated as the Empowerment Zone, can access triple tax-exempt bond financing. Reductions in mortgage recording and sales taxes may also be available. Borrowers must, among other requirements, commit to employ Empowerment Zone residents to be eligible for the program.
New York Liberty Bond Program
Provides triple tax-exempt financing for construction of and major capital improvements to commercial and retail facilities within Lower Manhattan and New York City. This is a cooperative program of the City and the State of New York. In allocating New York Liberty Bonds, the State and the City are seeking projects that will contribute significantly to the City’s revitalization and long-term economic health in the aftermath of the events of September 11, 2001. Financing is provided by the program’s issuers, the New York City Industrial Development Agency and the New York Liberty Development Corporation (administered by the New York State Empire State Development Corporation).
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