Funding Agreements

NYCEDC has a dedicated team that works with private organizations that are awarded City funds by elected officials. NYCEDC administers the payment of these funds, which must be used to help underwrite the costs of capital projects that provide the City with a public benefit.

Our funding agreement team ensures that the City’s capital funds will be used according to the City’s capital eligibility guidelines. We partner with the City’s Law Department to draft a contract through which these funds can be channeled and approved by other City agencies. The funding recipient works with us to meet all City requirements and develop a capital project that is beneficial and appropriate for both the City and the organization.

Some of our past funding recipients include community and senior centers, job-training facilities, and cultural organizations, among others. Typical projects include renovations, new construction, and acquisition of property.

Throughout the life of the project, our team proactively administers and efficiently manages the disbursement of funding, recipient compliance and all other contractual requirements.

Though NYCEDC administers the payment of Funding Agreements, we want to stress that we do not determine or select the funding recipients. Funding Agreements are awarded directly by elected officials and not by NYCEDC.