NYCIDANew York City Industrial Development Agency
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The agency also has business incubators and its industrial agency, NYCIDA, provides tax breaks and financing for manufacturing jobs.
Specifically, the NYCIDA has agreed to provide the carrier with USD1.3m in triple tax exempt special facility revenue bonds.
NYCIDA accepted the growth based incentive package on August 3, 2010.
"These two companies are perfect examples of the types of companies the NYCIDA was created to assist," said NYCIDA chairman Seth W.
"Harlem Park will become home to an estimated 2,390 permanent jobs including those associated with the newly created MLB Network, and catalyzing private investment in the revitalization of Harlem's entertainment, arts and commercial corridor," said newly appointed NYCIDA chairman Seth W.
"The organizations helped by the NYCIDA represent some of the most innovative and creative projects throughout the City," said Robert C.
Lieber, president of New York City Economic Development Corporation, which administers NYCIDA.
"By helping Bank of America build this state-of-the-art global securities trading headquarters, NYCIDA is helping strengthen the City's position as the premier location for the financial services industry," said NYCIDA executive director Kei Hayashi.
An important component of the innovative strategy employed by Nixon Peabody was to have the city lease the land on which the stadiums are to be built to the NYCIDA, which in turn leased the land to the baseball teams in order to create a mechanism for the teams to make PILOT payments which support the bonds issued to finance the stadiums.
The NYCIDA board also approved a real estate and sales tax industrial incentive transaction for Maya Overseas Foods Inc., an importer of Eastern food products.
LLC has been approved for NYCIDA financing assistance to build a multi-dealer auto mall in East Harlem* its June meeting, the NYCIDA Board also approved assistance for two bakeries to help them expand their manufacturing facilities, and a liquor importer seeking to expand and renovate warehouse space.
Alper announced that two private schools have been approved for NYCIDA financing assistance to help them renovate and expand their facilities.