The New York City Industrial and Commercial Abatement Program (ICAP) will be extended to remain in effect through 2029, with no modifications.
The bill to extend the deadline from March 1, 2025, to March 1, 2029, to...more
The New York City Department of Finance requires that properties receiving benefits under the Industrial Commercial Incentive Program (ICIP) file a Certificate of Continuing Use (CCU) to renew the real estate benefits for the...more
The New York City Economic Development Corporation (NYCEDC) and the New York City Industrial Development Agency (IDA) created the New Manhattan Commercial Revitalization (M-CORE) Program with the goal of supporting...more
6/8/2023
/ Applications ,
City of New York ,
Construction Project ,
Economic Development ,
Energy Efficiency ,
ICAP ,
Infrastructure ,
Property Tax ,
Renovations ,
Tax Abatement ,
Tax Incentives
On May 1, 2023, the New York State Legislature voted to adopt the Fiscal Year 2024 budget which included the renewal and extension of the sunset date of five programs that abate real estate taxes, reduce commercial rent tax,...more
The New York State Enacted Fiscal Year 2021 budget included the renewal and extension of nine programs that abate real estate taxes, city corporate taxes, sales taxes, and provide energy discounts to qualified applicants....more
The State's new omnibus bill renewed and extended programs that abate real estate taxes, city corporate taxes, and sales taxes, and provide energy discounts to qualified applicants. Developers and businesses with new...more
Four major New York City based incentives programs for residential and commercial property owners and tenants are scheduled to sunset in June. Depending on individual circumstances, there may be an opportunity to vest...more