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 7th Board of Directors meetings is below:

FedCap Rehabiliatation Services, Inc. Public Hearing Package- December 7, 2017

The Allen-Stevenson School Public Hearing Package- December 7, 2017

The Cathedral School of St. John the Divine Public Hearing Package- December 7, 2017

The Chapin School, LTD Public Hearing Package- December 7, 2017

Trinity Episcopal School Corporation Public Hearing Package- December 7, 2017

Volunteers of America- Greater New York, Inc. Public Hearing Package- December 7, 2017

Fedcap Rehabilitation Services, Inc.

Organization Name: Fedcap Rehabilitation Services, Inc. 
Project Description: Fedcap is seeking approximately $10,000,000 in tax-exempt and taxable revenue bonds to finance, refinance, or reimburse costs to renovate their headquarters, conference center, and program operations space and to acquire and install Oracle enterprise resource planning infrastructure. 
Addresses: 633 Third Avenue 6th Floor and 210 East 43rd Street, New York, New York 10017
Type of Benefits: Tax-exempt bond financing and deferral from City and State mortgage recording taxes.
Cost of Benefits to City: $144,625
Projected City Tax Revenues: $10,115,584
Total Project Cost: $10,000,000
Current Jobs: 237.5 full time equivalent jobs
Hourly Wage Average and Range: $20.00/hr. Wage of $9.00/hour to $88.00/hour

The Allen-Stevenson School

Organization Name: The Allen-Stevenson School
Project Description: The Allen-Stevenson School is seeking approximately $35,000,000 in tax-exempt revenue bonds to finance and refinance the construction and equipping buildings to be used for the visual and performing arts, science, a library and athletics. The bonds will also be used to refinance outstanding NYCIDA Series 2004 tax-exempt Civic Facility Revenue bonds. 
Addresses: 132 East 78th Street, New York, New York 10075
Type of Benefits: Tax-exempt bond financing and deferral from City and State mortgage recording taxes.
Cost of Benefits to City: $568,750
Projected City Tax Revenues: $17,578,875
Total Project Cost: $35,000,000
Current and Projected Jobs: 130 full time equivalent jobs currently and 1 additional full time equivalent job projected
Hourly Wage Average and Range: $54.58/hr. Wage of $14.78/hour to $125.78/hour

The Cathedral School of St. John the Divine

Organization Name: The Cathedral School of St. John the Divine
Project Description: The Cathedral School is seeking approximately $12,000,000 in tax-exempt revenue bonds to finance or refinance a portion of the costs of constructing and renovating educational and administrative space. 
Addresses: 28 Morningside Drive, New York, New York 10025
Type of Benefits: Tax-exempt bond financing
Cost of Benefits to City: $49,334
Projected City Tax Revenues: $5,145,685
Total Project Cost: $16,963,194
Current and Projected Jobs: 75.5 full time equivalent jobs
Hourly Wage Average and Range: $40.24/hr. Wage of $13.50/hour to $102.83/hour

The Chapin School, LTD.

Organization Name: The Chapin School, LTD.
Project Description: The Chapin School is seeking approximately $36,000,000 in tax-exempt and taxable revenue bonds to refinance a portion of the Build NYC Resource Corporation Series 2016 bonds and refinance or finance a portion of the costs of renovating, equipping and furnishing the School's facility. 
Addresses: 100 East End Avenue, New York, New York 10028
Type of Benefits: Tax-exempt bond financing
Cost of Benefits to City: $421,956
Projected City Tax Revenues: $5,184,336
Total Project Cost: $220,000,000
Current and Projected Jobs: 210 full time equivalent jobs currently and 15 additional full time equivalent jobs projected
Hourly Wage Average and Range: $39.00/hr. Wage of $16.00/hour to $82.00/hour

Trinity Episcopal School Corporation

Organization Name: Trinity Episcopal School Corporation
Project Description: Trinity Episcopal School is seeking approximately $10,000,000 in tax-exempt notes to finance, refinance, or reimburse expenses paid by the School costs to expand and renovate their existing facilities. 
Addresses: 101 West 91st Street, 115-121 West 91st Street, 110 Columbus Avenue, 640 Columbus Avenue, 139 West 91st Street, New York, New York 10024
Type of Benefits: Tax-exempt bond financing.
Cost of Benefits to City: $58,339
Projected City Tax Revenues: $7,257,001
Total Project Cost: $149,783,160
Current and Projected Jobs: 249.5 full time equivalent jobs currently and 8 new full time equivalent jobs projected. 
Hourly Wage Average and Range: $20.00/hr. Wage of $9.00/hour to $88.00/hour

Volunteers of America- Greater New York, Inc. 

Organization Name: Volunteers of America - Greater New York, Inc. 
Project Description: Volunteers of America - Greater New York  is seeking approximately $6,600,000 in tax-exempt revenue bonds to finance the leasehold renovation and equipping of approximately 30,000 square feet of space to be used for the provision of social welfare services to individuals including the homeless, those with mental illness, and developmental disabilities, 
Addresses: 135 West 50th Street, New York, New York 10020
Type of Benefits: Tax-exempt bond financing
Cost of Benefits to City:  $120,659
Projected City Tax Revenues:  $4,269,055
Total Project Cost: $9,325,380
Current and Projected Jobs: 113 full time equivalent jobs currently, 6 additional full-time equivalent jobs projected
Hourly Wage Average and Range: $37.72/hr. Wage range of $15.14/hour to $96.15/hour