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NYCCRC has the capacity to issue triple tax-exempt private activity bonds. Our staff is available to assist borrowers in assessing the cost-effectiveness of financing proposed projects through NYCCRC.
Past Programs
The following NYCCRC programs are no longer active and are subject to current state law civic facility restrictions.
NIMBLE: Small Issuance Bond Program
The Nimble Small Issuance Bond Program was designed to provide cost effective tax-exempt financing for smaller projects, including equipment only needs in the in the $2 million to $5 million range.
Loan Enhanced Assistance Program (LEAP)
NYCCRC enabled not-for-profit organizations to access lower-cost, tax-exempt loans to finance construction, acquisition, renovation, and equipping of their facilities in New York City. Through LEAP, NYCCRC made direct loans to not-for-profits that were expanding or improving services in New York City. Due to the continued suspension of a portion of State law governing industrial development activities, this program is no longer active.
Recover NYC Program
The Recover NYC Program provided financial assistance to private-sector, for-profit companies seeking lower-cost financing for shovel-ready construction projects. Assistance was in the form of access to triple tax-exempt bond financing as authorized under the American Recovery and Reinvestment Act of 2009.
Inquiries
Contact one of our representatives by emailing NYCCRC@nycedc.com. The application process for NYCCRC programs is similar to the application process for NYCIDA programs; review step-by-step instructions on how to apply for NYCCRC programs, including submission of the Public Hearing Request forms by noted deadlines.