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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

StateNew York
Effected JurisdictionNew York City
Jurisdiction type: Municipality
Fiscal year ending In2019
Program nameCommercial Growth and Industrial Incentive Programs
Program purpose: General Economic Development
Statutory authority: Industrial Development Act of 1969 as governed by Article 18-A of the General Municipal Law(
Abating jurisdiction(s): New York, New York
Applicable taxesReal Preoprty Tax; State and Local Sales Tax; Mortgage Recording Tax
Method of abatement: Payment In Lieu of Taxes (PILOT)
Provisions for recapture: Program participants are required to adhere to various lease provisions as a prerequisite to receive abatement benefits. The lease provisions authorize benefit recapture in the case of non-compliance.
Gross revenue loss: $114,323,000
Reimbursement / offset: $0
Net revenue loss: $114,323,000
Type of loss: Active
Additional notes on dislosure(none)