Programs

Build NYC Resource Corporation

Not-for-Profit Bond Program

Build NYC provides access to tax-exempt and taxable bond financing for 501(c)(3) organizations to acquire capital for real estate projects, debt refinancing and other operational needs.

Why bond financing?

  • Lower interest rates than conventional loans
  • The ability to refinance existing debt
  • Full waiver from the 2.8% mortgage recording tax
  • Build NYC does not require a rating
  • Build NYC debt can be structured with variable or fixed interest rates

Borrowers work with an underwriter or placement agent and, in some cases, a financial adviser to determine the structure of the bond offering. A variety of factors specific to the borrower and its proposed project, including debt service coverage, will determine the specific interest rate. Bond amounts below $5 million may not make financial sense for some borrowers; Build NYC is a discretionary program and together with the borrower’s adviser, underwriter and/or placement agent, will help evaluate whether bond financing is appropriate.

Additional Programs

Companies developing facilities described as "exempt facilities" under the Internal Revenue Code may be able to access tax-exempt bond financing.  Exemptions from mortgage recording tax may also be available.

  • Airport facilities
  • Dock and wharf facilities
  • Solid waste disposal facilities
  • Recycling facilities
  • Transportation-related infrastructure
  • Other projects eligible for qualified private activity bond financing pursuant to the Internal Revenue Code

Inquiries

Contact one of our representatives by emailing [email protected]. The application process for Build NYC programs is similar to the application process for NYCIDA programs; review step-by-step instructions on how to apply for Build NYC programs, including submission of the Public Hearing Request forms by noted deadlines.

Contact Info

[email protected]

212.312.3600

Tags

Build NYC