Subsidy Alert: October 2015

Tuesday, September 29, 2015

In the public notices: Gotham Seafood Corp. ODA Primary Health Care Network, Inc., New York Stem Cell Foundation, Inc.Manhattan Country School, Inc.Congregation Machna Shalva

The New York City Industrial Development Agency and Build NYC public hearing will be held Thursday September 10 at 10:00 am. Hearings are held at 110 William Street, 4th Floor, New York, New York 10038 (Fulton St. subway stop). Presentations may be pulled from the docket before the hearing, 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: Gotham Seafood Corp., a New York Corporation that prepares and distributes fresh and frozen seafood, and Sean-Sakie Holdings Ltd., an affiliated real estate holding company. 

Proposed location: 1049-1055 Lowell Street, Bronx, New York 10459. 

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

Estimated cost to New York City: $2.2 million



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

Company name: ODA Primary Health Care Network, Inc

Proposed location: various locations in Brooklyn and Queens. See hearing notice for exact location details.

Type of benefits:  Approximately $5,000,000 in tax-exempt and taxable revenue bonds and exemption from City and State mortgage recording taxes. 

Estimated cost to New York City: $92,621

 

Company name: New York Stem Cell Foundation, Inc.

Proposed location:  619 West 54th Street, New York, New York 10019.

Type of benefits:  Approximately $12,000,000 in tax-exempt revenue bonds and exemption from City and State mortgage recording taxes. 

Estimated cost to New York City: $114,034

 

Company name: Manhattan Country School, Inc. 

Proposed location: 150 West 85th Street, New York, New York 10024. 

Type of benefits:  Approximately $24,300,000 in tax-exempt revenue bonds and exemption from City and State mortgage recording taxes.

Estimated cost to New York City: $625,811

 

Company name: Congregation Machna Shalva

Proposed location:  5813-5815 20th Ave., Brooklyn, NY, 11204

Type of benefits:   Approximately $3,300,000 in taxexempt revenue bonds and exemption from City and State mortgage recording taxes

Estimated cost to New York City: $71,657