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2019 | 2018 | 2017 | 2016 | 2015

New York City, NY Revenue Losses from Subsidy Programs

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Click on the name of a program for more details.

Program Name Program Type Gross Revenue Loss Reimbursement / offset Net Revenue Loss Type of Loss
Battery Park City Authority (The Authority) Economic development $162,200,000 $0 $162,200,000 Passive
Build NYC Tax Abatement Program Financing $5,136,000 $0 $5,136,000 Active
Commercial Conversion Programs 421-a, 421-b and 421-g Construction/rehabilitation $1,641,100,000 $0 $1,641,100,000 Active
Commercial Growth and Industrial Incentive Programs Economic development $114,323,000 $0 $114,323,000 Active
Division of Alternative Management Programs Community development $48,600,000 $0 $48,600,000 Active
Industrial and Commercial Incentive Program (ICIP) and Industrial and Commercial Abatement Program (ICAP) Construction/rehabilitation $794,500,000 $0 $794,500,000 Active
J51 Program Construction/rehabilitation $297,900,000 $0 $297,900,000 Active
Low Income Housing Program 420-C Construction/rehabilitation $273,300,000 $0 $273,300,000 Active
Major Capital Improvement (MCI) Program Rent control $11,700,000 $0 $11,700,000 Active
Relocation and Assistance Programs (REAP), Lower Manhattan Relocation and Employment Assistance Program for Eligible Benefits (LMREAP-EB) and Lower Manhattan Relocation and Employment Assistance Program for Special Eligible Benefits (LMREAP-SEB) Business incentive $33,000,000 $0 $33,000,000 Active
Solar Electric Generating System (SEGS) Abatement Program Renewable energy $15,400,000 $0 $15,400,000 Active
Sports Arena Used by the NHL and NBA Sports $43,100,000 $0 $43,100,000 Active
The Commercial Revitalization (CRP) and Commercial Expansion (CEP) Programs Construction/rehabilitation $15,200,000 $0 $15,200,000 Active
Urban Development Action Area Programs Construction/rehabilitation $21,200,000 $0 $21,200,000 Active
Urban Development Corporation (currently known as Empire State Development Corporation [ESDC]) Construction/rehabilitation $325,700,000 $0 $325,700,000 Passive
TABULATED TOTAL $3,802,359,000 $0 $3,802,359,000