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.
| State: | New York |
| Effected Jurisdiction: | New York City |
Jurisdiction type: | Municipality |
| Fiscal year ending In: | 2019 |
| Program name: | Urban Development Corporation (currently known as Empire State Development Corporation [ESDC]) |
| Program purpose: | Construction/rehabilitation |
| Statutory authority: | McKinney’s Unconsolidated Laws of NY: Section 6252. |
| Abating jurisdiction(s): | State of New York |
| Applicable taxes: | Real Preoprty Tax; State and Local Sales Tax; Mortgage Recording Tax |
| Method of abatement: | (not specified) |
| Provisions for recapture: | (not specified) |
| Gross revenue loss: | $325,700,000 |
| Reimbursement / offset: | $0 |
| Net revenue loss: | $325,700,000 |
| Type of loss: | Passive |
| Additional notes on dislosure: | (none) |
