NYCEDC's Compliance Department is responsible for the management, reporting, and oversight of a portfolio consisting of NYCIDA, Build NYC and NYCNCC post-closing transactions and agreements, NYCEDC land sales, and NYCEDC loan and guarantee programs.
The purpose of project investments from NYCNCC is to create measurable benefits and outcomes for low-income communities in New York City. Therefore, projects must provide quarterly, semi-annual and annual reporting documents for the life of the NMTC compliance period that track project outcomes. Reporting documents include an annual employment & benefits report, quarterly financial statements, semi-annual compliance certifications, and annual data on project specific metrics such as jobs created and/or other measurable outcomes (e.g. patient visits in the case of a healthcare center, or number of youth served in the case of a community facility).
Each year, NYCNCC projects are required by City and State legislation to report certain employment and benefit utilization. The following forms are required by law:
- Employment & Benefits Forms
- Living Wage Attachment
- NYS-45 Summary Page
The NYCEDC Compliance department will assign a specific Compliance Manager to coordinate with project representatives on reporting and compliance.
NYCNCC Programs and Policies may also include Living Wage, Prevailing Wage, HireNYC and M/WBE contracting requirements, as applicable.
If you have any questions, please contact your assigend Compliance Manager or the Compliance Department at [email protected] or 212.312.3963.