Upcoming Project Information

In an effort to provide more transparency, NYCEDC is making detailed information available for Build NYC projects. Information for projects to be covered at the December 6, 2018, Build NYC Public Hearing to be held at 110 William Street, New York, NY, 10038, will be listed below: 

Charles B. Wang Community Health Center, Inc. 

Trustees of the Spence School, Inc. 

Charles B. Wang Community Health Center, Inc. 

Organization Name: Charles B. Wang Community Health Center, Inc. (“CBWCHC”), a New York not-for-profit corporation and its affiliate, Healthview CBWCHC Inc. (“Healthview”), a New York not-for-profit corporation.
Project Description: Proceeds from the Bonds will be used as part of a plan of financing to: (1) finance the design, construction, furnishing and equipping of an approximately 80,000 square foot building including 34 enclosed off-street parking spaces located on an approximately 12,410 square foot parcel of land located at 131-72 40th Road, Flushing, New York (the “Facility”), and (2) pay for certain costs related to the issuance of the Bonds. The Facility will be owned by Healthview and will be operated by CBWCHC as a primary care health center and will allow CBWCHC to expand its services and better serve the needs of its clients.
Address: 131-72 40th Road, Flushing, New York 11354.
Type of Benefits: Tax-exempt bond financing and an exemption from mortgage recording taxes.
Cost of Benefits to City: $6,233,033
Projected City Tax Revenues: $6,240,766
Total Project Cost: $70,335,000
Current and Projected Jobs: 80 full time equivalent jobs created.
Hourly Wage Average and Range: $27.00/hour, estimated range of $15.00/hour to $71.00/hour.

Trustees of the Spence School, Inc. 

Organization Name: Trustees of the Spence School, Inc. (“School”), a New York not-forprofit education corporation exempt from federal taxation pursuant to Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, as borrower.
Project Description: Proceeds from the Bonds, together with funds of the School and capital campaign funds, will be used as part of a plan of financing to: (1) demolish an existing building located on an approximately 15,005 square foot parcel of land located at 412 East 90th Street, New York, New York (the “Project Site”); (2) design, develop, construct, furnish and equip an approximately 53,500 square foot six-story building at LDCMT-26-9825 the Project Site which is expected to include a gymnasium and other athletic facilities and ancillary spaces, a multipurpose space, one or more classrooms and other instructional facilities, food service facilities, one or more offices, a greenhouse and a rooftop planting area, and ancillary facilities related to the foregoing (the “Facility”); and (3) pay for certain costs related to the issuance of the Bonds. The Facility will be owned and operated by the School. The School owns and operates a private independent girls’ school serving students from Kindergarten through Grade 12.
Address: 412 East 90th Street, New York, NY 10128.
Type of Benefits: Tax-exempt bond financing.
Cost of Benefits to City: $193,219
Projected City Tax Revenues: $3,783,012
Total Project Cost: $102,250,000
Current and Projected Jobs: 15.5 full-time equivalent jobs retained.
Hourly Wage Average and Range: $29.50/hour, estimated range of $20/hour to $44/hour.