Upcoming Project Information

In an effort to provide more transparency, NYCEDC is making detailed information available for upcoming NYCIDA projects. Detailed information for projects that will be covered in the next NYCIDA Public Hearing can be found below.

NYCIDA Public Hearing Notice - March 9, 2017

Public Hearing Package Marathon Energy 2017

NYCIDA Board of Directors Meeting Minutes February 2017 - DRAFT

NYCIDA Table of Contents - March 2017.pdf

NYCIDA NOTICE OF MEETING OF BOARD OF DIRECTORS - 3.14.17

Marathon Energy Corporation

Company Name: 

Marathon Energy Corporation, a New York corporation, and ASDR Realty Corp. an affiliated holding company. 

Project Description:

Marathon Energy is seeking financial assistance in connection with the acquisition, renovation, furnishing, and equipping of an approximately 40,354-square-foot building in Woodside, Queens. 

Addresses:

62-01 34th Avenue, 33-53 62nd Street, and 33-51 62nd Street, Woodside, NY, 11377

Type of Benefits:

Payments in lieu of City real property taxes, deferral of City and State mortgage recording taxes, and exemption from City and State sales and use taxes.

Cost of Benefits to City:

$3,385,604 in NYCIDA financial assistance, $1,022,472 in NYCIDA financial assistance in excess of available as-of-right incentives. 

Projected City Tax Revenues:

$18,588,220

Total Project Cost:Approximately $11,200,000
Current and Projected Jobs:52 existing full-time equivalent jobs, 15 full-time equivalent jobs projected. 
Hourly Wage Average and Range:

$41.66/hour, estimated range of $14.28/hour to $137.40/hour.

 

 R, Limited Liability Company 

Company Name: 

R, Limited Liability Company d/b/a R & Company, a New York limited liability company and RG Familiy LLC, an affiliated real estate holding company.

Project Description:

R, Limited Liability Company is seeking financial assistance in connection with the acquisition, renovation, furnishing, and/or equipping of a 5,027 square foot to-be-formed condo unit.

Address:

66 White Street, New York, NY 10013

Type of Benefits:

Payments in lieu of City real property taxes, deferral of City and State mortgage recording taxes, and exemption from City and State sales and use taxes.

Cost of Benefits to City:

Approximately $3,498,704

Projected City Tax Revenues:

Approximately $20,196,928

Total Project Cost:Approximately $9,047,564 
Current and Projected Jobs:0 existing full-time equivalent jobs at the location, 55 full-time equivalent jobs projected.
Hourly Wage Average and Range:

$41.00/hour, estimated range of $17.50/hour to $100.00/hour.