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 or Territory: | New York |
| Effected Jurisdiction: | New York City |
Jurisdiction type: | Municipality |
| Fiscal year ending In: | 2022 |
| Program name: | Commercial Growth Program |
| 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): | City of New York |
| Applicable taxes: | Real Property Tax; State and Local Sales Tax; Mortgage Recording Tax |
| Method of abatement: | Tax Exemption |
| Provisions for recapture: | Non-compliance with lease provisions authorizes benefit recapture |
| Gross revenue loss: | $180,045,000 |
| Reimbursement / offset: | $0 |
| Net revenue loss: | $180,045,000 |
| Type of loss: | Active |
| Additional notes on dislosure: | (none) |
| Document source: | https://comptroller.nyc.gov/wp-content/uploads/documents/ACFR-2022.pdf |
