NYCCRC spurs economic development and job creation and retention throughout New York City by providing access to lower-cost financing for qualified industrial, manufacturing, and other companies.

The mission of the New York City Capital Resources Corporation (NYCCRC) is to encourage community and economic development and job creation and retention throughout New York City by providing access to tax-exempt bond financing programs to qualified not-for-profit institutions, manufacturing, industrial, and other businesses for their eligible capital projects at a lower-cost than traditional means.

Until January 2008, NYCCRC issued tax-exempt bonds for not-for-profit organizations’ capital projects, but the program was halted due to the continued suspension of a portion of State law governing industrial development activities. Read our press release calling for the permanent restoration of Industrial Development Agency and Capital Resource Corporation authority to assist not-for-profit civic facilities.