Upcoming Project Information

In an effort to provide more transparency, NYCEDC is making detailed information available for Build NYC projects. Detailed information for projects that were covered at previous Build NYC Public Hearing and Board of Directors meetings is below:

Build NYC Public Hearing Notice - July 2017

Barkai Foundation, Inc. 

Company Name: 

Barkai Foundation, Inc. 

Project Description:

Barkai Foundation, Inc. is seeking $7,000,000 in tax exempt bonds, the proceeds of which will be used to finance the acquisition, renovation, furnishing or equipping of two buildings to be used to provide educational services. 

Addresses:

5312 21st Avenue, Brooklyn, New York 11204 and 2064 53rd Street, Brooklyn, New York 11204

Type of Benefits:

Tax exempt bond financing and exemption from City and State mortgage recording taxes

Cost of Benefits to City:

TBD

Projected City Tax Revenues:

TBD

Total Project Cost:Approximately $7,300,000
Current and Projected Jobs:88 full-time equivalent jobs currently, projected at project completion date.
Hourly Wage Average and Range:

$36.01/hour, range between $15.00/hour to $238.10/hour

Cooke Center for Learning and Development, Inc. 

Company Name: 

Cooke Center for Learning and Development, Inc.  

Project Description:

Cooke Center is seeking $47,000,000 in tax exempt bonds, the proceeds of which will be used to finance the demolition of an existing building located at 1713-1727 Madison Avenue, the construction, equipping and furnishing of an approximately 67,000 square-foot building and other project costs. The building will be used to provide educational services for special-needs students from Kindergarten through Grade 12. 

Addresses:

1713-1727 Madison Avenue, New York, New York 10029

Type of Benefits:

Tax exempt bond financing and exemption from City and State mortgage recording taxes

Cost of Benefits to City:

TBD

Projected City Tax Revenues:

TBD

Total Project Cost:Approximately $55,675,000
Current and Projected Jobs:168 full-time equivalent jobs currently, 177 full-time equivalent jobs projected within three years of project completion.
Hourly Wage Average and Range:

$36.06/hour, range between $15.00/hour to $137.83/hour

Grace Church School 

Company Name: 

Grace Church School  

Project Description:

Grace Church School is seeking approximately $11,500,000 in tax-exempt revenue bonds and $40,000,000 in reissued tax-exempt revenue bonds to finance the renovation and equipping of units at 46 Cooper Square, New York, New York. In addition the School has requested changes to the terms of the Build NYC Resource Corporation Revenue Bonds, Series 2013 in the amount of $40,000,000. The facility will be operated by the School as a private co-educational school serving students in pre-Kindergarten through Grade 12. 

Addresses:

46 Cooper Square, New York, New York 10003, 65 East 10th Street, New York, New York 10003, and 84-98 Fourth Avenue, New York, New York 10003

Type of Benefits:

Tax exempt bond financing and exemption from City and State mortgage recording taxes

Cost of Benefits to City:

TBD

Projected City Tax Revenues:

TBD

Total Project Cost:Approximately $55,100,000
Current and Projected Jobs:62 full-time equivalent jobs currently, 65 full-time equivalent jobs projected within three years of project completion.
Hourly Wage Average and Range:

$48.22/hour, range between $16.48/hour to $124.51/hour

Hyde Leadership Charter School 

Company Name: 

Hyde Leadership Charter School

Project Description:

Hyde Leadership Charter School is seeking $17,000,000 in tax exempt bonds to finance the acquisition, renovation, and equipping of an approximately 31,500 square foot building located on an approximately 13,388 square foot parcel of land located at 830 Hunts Point Avenue, Bronx, New York, fund a debt service reserve fund and pay for costs of issuance. The School will own and operate the facility as a charter high school serving students in Grades 9-12. 

Addresses:

830 Hunts Point Avenue, Bronx, New York 10474

Type of Benefits:

Tax exempt bond financing and exemption from City and State mortgage recording taxes

Cost of Benefits to City:

TBD

Projected City Tax Revenues:

TBD

Total Project Cost:Approximately $17,000,000
Current and Projected Jobs:172.5 full-time equivalent jobs currently, 65 full-time equivalent jobs projected within three years of project completion.
Hourly Wage Average and Range:

$29.89/hour, range between $12.00/hour to $105.00/hour

Inwood Academy for Leadership Charter School  

Company Name: 

Inwood Academy for Leadership Charter School and Friends of Inwood Academy for Leadership

Project Description:

Inwood Academy for Leadership Charter School is seeking $11,700,000 in tax exempt bonds to finance the renovation, furnishing, and equipping of an approximately 35,469 square foot building located on an approximately 36,500 square foot parcel of land located at 3896 10th Avenue, New York, New York 10034. The facility will be operated by the School as a charter school providing educational services for students in Grades 9-12. 

Addresses:

3896 10th Avenue, New York, New York 10034.

Type of Benefits:

Tax exempt bond financing and exemption from City and State mortgage recording taxes

Cost of Benefits to City:

TBD

Projected City Tax Revenues:

TBD

Total Project Cost:Approximately $12,200,000
Current and Projected Jobs:86.5 full-time equivalent jobs currently, 100 full-time equivalent jobs projected within three years of project completion.
Hourly Wage Average and Range:

$16.00/hour, range between $15.00/hour to $25.00/hour

Mary McDowell Friends School  

Company Name: 

Mary McDowell Friends School 

Project Description:

Mary McDowell Friends School is seeking $20,800,000 in tax-exempt revenue bonds to finance the demolition of an approximately 5,340 square foot building located at 18-20 Bergen Street, Brooklyn, New York; the construction, equipping, and furnishing of an approximately 13,098 square foot addition to an existing approximately 20,380 square foot building; the renovation of a 37,596 square foot building at 23 Sidney Place, Brooklyn, New York, and the refunding of all or a portion of Build NYC Resource Corporation Revenue Bonds (Series 2013 Mary McDowell Friends School Project). The facilities will be used to provide educational services for special-needs students from Kindergarten through Grade 12. 

Addresses:

18-20 Bergen Street and 23 Sidney Place, Brooklyn, New York 11201

Type of Benefits:

Tax exempt bond financing and exemption from City and State mortgage recording taxes

Cost of Benefits to City:

TBD

Projected City Tax Revenues:

TBD

Total Project Cost:Approximately $25,800,000
Current and Projected Jobs:135 full-time equivalent jobs currently, 143 full-time equivalent jobs projected within three years of project completion.
Hourly Wage Average and Range:

$36.70/hour, range between $21.98/hour to $68.57/hour

180 W. 165th Street LLC  

Company Name: 

180 W. 165th Street LLC and Metropolitan Lighthouse Charter School

Project Description:

The School is seeking $33,500,000 in tax-exempt revenue bonds to finance the acquisition, renovation, and equipping of an approximately 51,600 square foot building located at 180 W. 165th Street, Bronx, New York, construction of a 6,000 square foot aaddition. The building will be used by the School to provide educational services for students from Kindergarten through Grade 8. The School plans to add one grade per years it serves Kindergarten through Grade 12 by school year 2021-2022.

Addresses:

180 West 165th Street, Bronx, New York 10452

Type of Benefits:

Tax exempt bond financing and exemption from City and State mortgage recording taxes

Cost of Benefits to City:

TBD

Projected City Tax Revenues:

TBD

Total Project Cost:Approximately $33,500,000
Current and Projected Jobs:52.5 full-time equivalent jobs currently, 73.5 full-time equivalent jobs projected within three years of project completion.
Hourly Wage Average and Range:

$36.89/hour, range between $15.00/hour to $74.18/hour

Siach Yitzchok   

Company Name: 

Siach Yitzchok

Project Description:

The School is seeking $7,000,000 in tax-exempt revenue bonds to finance the construction and equipping of an approximately 38,000 square foot building located at 1045 Beach 9th Street, Far Rockaway, New York 11691. The building will be owned and operated by the School as a private elementary school serving boys in pre-Kindergarten through Grade 8. 

Addresses:

1045 Beach 9th Street, Far Rockaway, New York 11691

Type of Benefits:

Tax exempt bond financing and exemption from City and State mortgage recording taxes

Cost of Benefits to City:

TBD

Projected City Tax Revenues:

TBD

Total Project Cost:Approximately $7,000,000
Current and Projected Jobs:39.5 full-time equivalent jobs currently, 53 full-time equivalent jobs projected within three years of project completion.
Hourly Wage Average and Range:

$37.13/hour, range between $14.02/hour to $76.61/hour