Compliance

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.

Compliance Reporting

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).

Employment & Benefits Report 

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

Download Employment & Benefits Report Forms

Additional Reporting Requirements

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.