We now service clients on a full array of benefits citywide. The following is a sampling of some of the more active incentives in New York City.

> For Tenants
> For Landlords and Developers

Real Estate Incentives and Other Services for Tenants

Relocation Employment Assistance Program (REAP)
City tax credit of $3,000 per qualified employee per year over 12 years. Credits are paid in cash for up to 5 years if they exceed company’s tax liability. Applicants must be:
(1) in business at least 2 years;
(2) from outside of NYC (outside the 5 boroughs);
(3) opening an office in NYC south of Houston St.;
(4) without any substantial operations in NYC between 1/1/02 and 7/1/03;
(5) investing at least $25 per square foot in build-outs OR in a qualified building;
(6) signing a lease with a term of 3 or more years.
Additional rules apply. We can handle all technical requirements and applications.

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Commercial Revitalization Program (CRP)
Companies and not-for-profits below Murray and Frankfort Streets may receive: (1) rent abatements (i.e., subsidies) of up to $10 per square foot payable over 5 years for qualified tenants whose space is improved by $5 or more per square foot; (2) commercial rent tax exemptions and reductions; and (4) energy discounts. Program renewed through March 2010. MUST FILE WITHIN 180 DAYS OF LEASE COMMENCEMENT. We handle all filings with the City.

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Commercial Expansion Program (CEP)

Provides real estate tax abatement in designated zones throughout New York City valued at up to $10 per square foot over five years.

Commercial Rent Tax Special Reduction

Exempts Commercial Rent Tax obligation of firms in Lower Manhattan for up to five years, at the value of base annual rent in the base year. Permanent exemption available in certain zones, as well as to retailers south of Murray Street.

Sales Tax Exemptions

Eliminates 8.375% sales tax on build-out costs in lower Manhattan, and on all build-out and furniture, fixtures, & equipment for new sites at Ground Zero.

Compliance
We can handle all of the compliance work and filings for economic development benefits. Employment reports, sales tax exemption claims, certifications, energy credits, spreadsheets and other paperwork—all can be done through our office. There is no need to spend valuable in-house staff time, or money on expensive attorneys or accountants. doing this highly specialized, technical, time-consuming work. Our team is uniquely able to handle the administrative process at a fraction of the time and cost.

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Government Consulting
As the bridge between small business owner and many government agencies operating in New York City, we help clients resolve pending issues with government agencies, advise them on government matters and help with contract procurement.

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Real Estate Incentives and Other Services for Landlords
and Developers

Industrial and Commercial Incentive Program (ICIP)
Property owners who make substantial investments in upgrading and renovating buildings downtown may obtain real estate tax freezes or exemptions for up to 12 years. We help owners save multimillions in property taxes by shepherding all applications and proof through the system.

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Lower Manhattan Energy Program and Energy-Related Grants
Owners may qualify for electricity discounts of approximately 15% for up to 12 years, as well as cash grants for labor and equipment using energy-efficient systems. Our energy expert is an engineer with more than 15 years’ experience and can negotiate these benefits for you with the State and City.

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Compliance
We can handle all compliance with government agencies for continuation of benefits under City and State programs. Affidavits with proof of expenditures, employment reports, certifications for continuation of benefits, and other filings—all can be handled by our office. There is no need to spend valuable staff time or pay expensive attorneys or accountants for this highly specialized detail work. Our team is uniquely qualified to handle the back end administration of all your benefits so that your firm may continue to receive maximum awards.

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