Subsidy Alert: January 2015

Tuesday, December 23, 2014

In the public notices: SICIS North America, Inc.5 Bay Street, LLCMeushar 34th Street LLC (A Hudson Yards Commercial Construction Project) [not expected to be presented at the public hearing]FC Hanson Office Associates, LLC,  Trinity Episcopal School Corporation,

The New York City Industrial Development Agency and Build NYC public hearing will be held Thursday, January 8 at 10:00 am. The public hearing will be held at 110 William Street, 4th Floor, New York, New York 10038 (Fulton St. subway stop). Presentations may be pulled from the docket at the last moment, so call the IDA at (212) 312-3598 to confirm that the company you are interested in will be presented.

We have provided links to available project materials and cost/benefit analyses for projects expected to be presented at the hearing. We encourage anyone with concerns or comments about these proposals to attend the hearing and provide input on particular projects to the members of the IDA board. For more information, please email PublicHearings@nycedc.com or contact Fran Tufano at (212) 312-3596; Written testimony can be submitted to: 

New York City Industrial Development Agency, Attn: Ms. Frances Tufano

110 William Street, 5th Floor, New York, New York 10038

 If you plan to speak on any of these projects, please let GJNY know: 212.721.4865 or elizabeth@goodjobsfirst.org.

Projects of the New York City Industrial Development Agency - snapshot of project information or download the public hearing notice

Company name: SICIS North America, Inc., (”SICIS”) a Delaware corporation that distributes mosaic and decorative art including furniture, lighting, home accessories and jewelry and its affiliated real estate holding company, Bianca USA Real Estate, Inc. 

Proposed location: 150 Bruckner Blvd, Bronx, New York, 10454

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

Estimated cost to New York City: TBD

 

Company name: 5 Bay Street, LLC, 5 Bay Street Phase 1, LLC and 5 Bay Street Phase 2, LLC, affiliates of Triangle Equities Incorporated, a real estate development company

Proposed location: 5 Bay Street, Staten Island, New York 10301

Type of benefits: mortgage recording tax benefits

Estimated cost to New York City: TBD

 

Company name: Meushar 34th Street LLC (A Hudson Yards Commercial Construction Project), an affiliate of The Moinian Group [This project is not expected to be presented at the January 2015 public hearing]

Proposed location: 400 11th Avenue, New York, New York 10001

Type of benefits: Payments in lieu of City real property taxes and payments in lieu of City and State mortgage recording taxes

Estimated cost to New York City: TBD

 

Projects of the BuildNYC Resource Corporation - snapshot of project information or download the public hearing notice:

Company name: FC Hanson Office Associates, LLC, an entity that is affiliated with and controlled by Forest City Ratner Companies, LLC. Financing.

Proposed location: 139 Flatbush Avenue, Brooklyn, New York.

 Type of benefits: Tax-exempt and taxable bond financing and exemption from City and State mortgage recording taxes

Estimated cost to New York City: 

 

Company name: Trinity Episcopal School Corporation, a New York not-for-profit education corporation

Proposed location: 101, 115-121, and 139 West 91st Street, 110 and 640 Columbus Avenue, New York 10024

Type of benefits: Tax-exempt bond financing, and exemption of City and State mortgage recording taxes.

Estimated cost to New York City: