INDUSTRIAL AND COMMERCIAL

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1 Finance TM NEW YORK CITY DEPARTMENT OF FINANCE TAX & PARKING PROGRAM OPERATIONS DIVISION INDUSTRIAL AND COMMERCIAL ABATEMENT PROGRAM PRELIMINARY APPLICATION AND INSTRUCTIONS Mai to: NYC Department of Finance, Industria and Commercia Abatement Program, 59 Maiden Lane, 22nd Foor, Instructions: The competed appication must be accompanied by a narrative describing the project site; the proposed improvement(s); the proposed uses of the buiding or structure upon competion of improvements; and whether the improvements are buiding-wide or imited to specific buiding systems or renovations to particuar areas (such as specific foors or obby) of the buiding. There is no fee for this appication. NOTE: FAILURE TO FILE AN APPLICATION FOR INDUSTRIAL AND COMMERCIAL ABATEMENT PROGRAM (ICAP) BENEFIT BEFORE RECEIPT OF THE FIRST BUILDING PERMIT OR, IF NO PERMIT IS REQUIRED, THE START OF CONSTRUCTION WILL DISQUALIFY YOU FROM RECEIVING BENEFITS UNDER THIS PROGRAM. PROGRAM OVERVIEW AND MILESTONES OVERVIEW The Industria and Commercia Abatement Program (ICAP) provides for a partia abatement of taxes for eigibe industria or commercia buidings which are constructed, modernized, rehabiitated, expanded or otherwise physicay improved. As of May 18, 2011, benefits are avaiabe for eectricity generating units defined as Peaking Units. Benefits are not avaiabe for any other utiity property. Additionay, benefits for space used or hed out for retai purposes may receive imited or no benefits and may disquaify a project from any benefits depending upon ocation of the buiding and/or the construction work performed. ICAP benefits are granted as of right to a appicants whose projects quaify under the provisions of the egisation. EXPIRATIONS AND FILING DATES Under the current statute, ICAP wi expire March 1, Preiminary appications received after this date are ate and are not eigibe for benefits. CERTIFICATES OF ELIGIBILITY The Department of Finance, which administers this program, issues Certificates of Eigibiity for projects which meet the program requirements. No tax benefit wi be granted pursuant to this tite if a property is concurrenty receiving an exemption or abatement of rea property tax under any other aw, with a sma number of exceptions such as exemptions avaiabe to property owned by not- for- profit organizations. A subsequent ICAP benefit is not avaiabe for construction work on the same portion of the property for which construction work is the subject of an abatement pursuant to the ICAP program unti at east four years have eapsed since the first day of the first tax year of such prior abatement benefit. MINIMUM REQUIRED EXPENDITURES Appicants must meet Minimum Required Expenditure (MRE) targets. The MRE is a percentage of assessed vaue of the project in the year of the issuance of the buiding permit or, if no permit is required, the start of construction. The MRE is 30% of the property s taxabe assessed vaue in the tax year with a taxabe status date immediatey preceding the issuance of the first buiding permit, or, if no permit is required, commencement of construction. For an industria construction project that meets an MRE of 40% or more, the project wi be eigibe for the additiona abatement that reduces the pre-construction tax on the buiding or structure. FILING AND PERMITS Appicants must fie a preiminary appication with the Department of Finance PRIOR to the issuance of a buiding permit for this project or, if no permit is required, prior to the start of construction. Faiure to fie the preiminary appication timey wi disquaify an appicant from receiving any benefits under this program. If the fiing requirements are met, an appicant may commence construction once the Buidings Department issues a permit. Information regarding additiona fiings may be found on Page B: "Program Miestones." BENEFIT SCHEDULE The benefit schedue for industria projects is the same citywide. As is the benefit schedue for Peaking Units. For commercia projects, the City is divided into reguar, renovation and specia areas, the boundaries of which wi be set by the Temporary Boundary Commission for the first time in 2009 and every three years thereafter. Specia commercia areas designated previousy under ICIP wi Page A ICAP Preim. App. Rev

2 Industria and Commercia Abatement Program - Preiminary Appication PROGRAM OVERVIEW AND MILESTONES - Continued continue to be in effect unti new boundaries are set. MILESTONES Fie preiminary appication for Certificate of Eigibiity with the ICAP M/WBE Compiance Report before issuance of buiding permit, or if no permit is required, the start of construction. For projects $750,000 and over appicants are aso required to submit a copy of the preiminary appication for Certificate of Eigibiity and the ICAP M/WBE Compiance Report to the Department of Finance and the Division of Labor Services at the Department of Sma Business Services. For compete ICAP Benefit Schedues, visit nyc.gov/finance A ICAP appicants must reach out to M/WBE firms for the purpose of promoting contacting opportunities on the project. To find M/WBE firms, pease access the City s Onine Directory of Certified Businesses. To search for firms by commodity codes, ocations, and keywords, go to commencement of construction. Fie competed fina appication for Certificate of Eigibiity no ater than one year after the effective date of eigibiity. The effective date of eigibiity is the date of the first buiding permit that aows construction to proceed, or if no permit is required, no ater than one year from the date that construction started. Construction does not need to be compete to submit a fina appication, so there are no exceptions. If a fina appication is submitted after one year, the appication wi be automaticay denied. Submit proof of meeting the minimum required expenditure within appicabe time periods after issuance of the buiding permit on projects under construction or upon competion. Notify the ICAP unit in writing within 15 days of competion of project and submit fina construction report within 60 days of competion. A fina certificate of eigibiity wi then be issued. Fie Certificate of Continuing use bienniay with the Department of Finance during the benefit period. However, an amendment to the certificate of continuing use must be fied immediatey in certain circumstances when space is converted to another use. Notify the Division of Labor Services 15 business days before commencement of work. Submit an Empoyment Report for projects with construction contracts in excess of $2,500,000 for the appicant and subcontractor contracts in excess of $1,000,000. Project must be competed no ater than five years from the date of the first permit. Receive a buiding permit, where required, prior to the AGENCY ADDRESSES AND TELEPHONE NUMBERS NYC DEPARTMENT OF FINANCE ICAP 59 Maiden Lane, 22nd Foor E-mai: nyc.gov/contactfinance NYC DEPARTMENT OF SMALL BUSINESS SERVICES Energy Cost Savings Program 110 Wiiam Street, 7th Foor Teephone: For financing initiatives contact: NYC DEPARTMENT OF SMALL BUSINESS SERVICES Division of Labor Services Program 110 Wiiam Street, 7th Foor Teephone: NYC ECONOMIC DEVELOPMENT CORPORATION Industria Deveopment Agency 110 Wiiam Street, 6th Foor Teephone: NOTE THIS PRELIMINARY APPLICATION, WHEN DULY FILED, WILL FULFILL THE REQUIREMENT THAT AN APPLICATION BE MADE BEFORE ISSUANCE OF A BUILDING PERMIT OR, IF NO PERMIT IS REQUIRED, THE START OF CONSTRUCTION. HOWEVER, THE FILING OF A PRELIMINARY APPLICATION DOES NOT CONFER THE RIGHT TO ANY BENEFIT. Page B

3 Finance SECTION I APPLICANT INFORMATION Type or print a information 1. Name of Appicant: Contact person (if other than appicant): PRINT FIRST NAME PRINT LAST NAME Address: NUMBER AND STREET CITY STATE ZIP CODE Teephone Fax Emai Number: Number: Address: Appicant s Empoyer Appicant s Socia Identification Number: OR Security Number: 2. Name of Representative (If a representative is designated beow, correspondence wi be sent ony to the representative): Representative Firm Name: Name: PRINT FIRST NAME PRINT LAST NAME Address: NUMBER AND STREET CITY STATE ZIP CODE Teephone Fax Emai Number: Number: Address: SECTION II SITE INFORMATION TM NEW YORK CITY DEPARTMENT OF FINANCE TAX & PARKING PROGRAM OPERATIONS DIVISION INDUSTRIAL AND COMMERCIAL ABATEMENT PROGRAM PRELIMINARY APPLICATION FOR CERTIFICATE OF ELIGIBILITY Mai to: NYC Department of Finance, Industria and Commercia Abatement Program, 59 Maiden Lane, 22nd Foor, This Preiminary Appication, when duy fied, wi fufi the requirement that an appication be made before issuance of a buiding permit, but does not confer the right to any benefit. Return the competed appication and the required attachments to the address above. 1. Borough: Bock: Lot(s): 2. Site Address: NUMBER AND STREET CITY STATE ZIP CODE SECTION III PROJECT INFORMATION 1. Tota foor area: square feet 2. Type of project (check a that appy): q New buiding q Ateration q Addition to existing space 3. Proposed use (check a that appy): q Industria q Commercia q Retai q Hote q Residentia q Utiity 4. Retai square footage: 5. Estimated cost of construction: $ 6. Wi proposed work require a buiding permit? q YES q NO If "no," continue with question #9. 7. Has a buiding permit been issued? q YES q NO If "yes," give date: / / 8. Date of commencement or projected commencement: / / 9. Wi the project require any zoning change, other variance or consent from a government agency? q YES q NO If "yes," describe: 10. Has an appication been made for any other New York City Exemption or Abatement Program, for exampe J-51, ease abatement, ECSP, prior ICIP, ICAP etc.? q YES q NO If "yes," specify: If no, wi you be appying for any q YES q NO 11. This appication is for (check a that are appicabe): q Industria q Commercia q Additiona Industria Abatement Abatement Abatement 12. Are you panning to subcontract? q YES q NO If "yes," pease ist a trades: ICAP Preim. App. Rev

4 Industria and Commercia Abatement Program - Preiminary Appication Page 2 SECTION IV AGREEMENTS AND CERTIFICATION The undersigned agrees and represents that: The appicant wi compy with the Rues of the Office of the Mayor for impementation of Executive Order No. 50 (1982) or amendments reating to equa empoyment opportunity programs to the same extent as if the appicant was a contractor with the City of New York and wi not commence construction work unti at east 15 business days have eapsed without comment after fiing Empoyment Reports for itsef and each such contractor, if appicabe. Empoyment Report forms are avaiabe from the Department of Finance and shoud be fied with the Division of Labor Services, 110 Wiiam Street, 7th Foor, or ca the Division of Labor Services at The appicant wi aso compy with and be subject to the rues issued from time to time by the Department of Finance to secure compiance with a appicabe City, State and federa aws or which impement mayora directives and executive orders designed to ensure equa empoyment opportunity. Under Loca Law 67 of 2008, a ICAP appicants must reach out to City-certified Minority and Women-owned Business Enterprises (M/WBEs) for the purpose of promoting contracting opportunities on the project. Pease submit the ICAP M/WBE Compiance Report, aong with the Preiminary Appication for Certificate of Eigibiity, to the Division of Labor Services at the Department of Sma Business Services. INDUSTRIAL AND COMMERCIAL ABATEMENT PROGRAM (ICAP) APPLICANT RESPONSIBILITY CHECKLIST Submit FINAL appication Submit PRELIMINARY Appication for Certificate of Eigibiity for benefits stage Search for firms in the CONTRACT VALUE Onine Directory of Certified Firms Less than $750,000 3 Soicit bids from at east three certified M/WBE firms for each subcontracting project* Submit a copy of the ICAP M/WBE Compiance Report to DLS Submit Empoyment Report to DLS 15 days before commencement of work Submit ICAP M/WBE Compiance Report to NYC Department of Finance $750,000 - $1.5 miion $1.5 miion - $2.5 miion Greater than $2.5 miion *The appicant sha maintain records demonstrating its compiance with this provision. Ready to Search for Certified Firms? Visit The Onine Directory of Certified Businesses provides a comprehensive, searchabe too that heps city buyers and contractors identify certified Minority and Women-owned Business Enterprises (M/WBEs) throughout the New York City tri-state area. Find detaied information on certified companies, incuding a brief description of their work history, contact information, and detaied information about what the companies se. I certify that the information on this appication, and any accompanying documents, is, to the best of my knowedge, true correct and compete. Signature: Print Name: Tite: / / Date: To inform the Department of Sma Business Services (SBS) of contracting and subcontracting opportunities, or to get additiona hep finding M/WBEs, pease contact Buyers Services at or e-mai buyer@sbs.nyc.gov.

5 Finance TM NEW YORK CITY DEPARTMENT OF FINANCE TAX & PARKING PROGRAM OPERATIONS DIVISION INDUSTRIAL AND COMMERCIAL ABATEMENT PROGRAM (ICAP) MINORITY AND WOMEN-OWNED BUSINESS ENTERPRISES (M/WBE) COMPLIANCE REPORT Mai to: NYC Department of Finance, Industria and Commercia Abatement Program, 59 Maiden Lane, 22nd Foor, NY The ICAP M/WBE Compiance Report must be submitted with the Preiminary Appication for Certificate Eigibiity. Loca Law 67 of 2008 requires that a Industria and Commercia Abatement Program (ICAP) beneficiaries incude City-certified Minority and Women-owned Business Enterprises (M/WBE) firms in construction projects for which tax abatements are granted. A ICAP appicants must reach out to M/WBE firms for the process of promoting contracting opportunities on the project. To find M/WBE firms, pease access the City s Onine Directory of Certified Businesses. To search for firms by commodity codes, ocations, and keywords, go to For projects over $750,000, ICAP appicants must indicate which outreach activities they performed by checking the boxes beow. Pease note appicants must keep detaied records of the outreach activities accessibe at their pace of business. Outreach Activities (check a that appy): q Advertised opportunities to participate in the project in genera circuation media, trade and professiona association pubication, sma business media, and pubications of M/WBE organizations q Provided written notices of specific opportunities to M/WBE firms inviting their participation q Hed meetings with M/WBEs prior to the date their bids or proposas were due, for the purpose of expaining in detai the scope and requirements of the work for which their bids or proposas were soicited q Made efforts to negotiate with M/WBEs to perform specific subcontracts, or act as suppiers or service providers q Made timey requests to the NYC Department of Sma Business Services for hep ocating certified M/WBE firms q Attempted to identify interested M/WBEs not currenty on the ist of City-certified firms Appicants with construction projects $1.5 miion and greater must compete the above requirements as we as ist at east three M/WBE firms that were soicited to perform subcontracting work for each subcontract on the project (see next page).

6 Industria and Commercia Abatement Program - M/WBE Compiance Report Page 2 SUBCONTRACT DESCRIPTION AMOUNT NAME AND ADDRESS OF SOLICITED M/WBE FIRMS SOLICITED RESPONDED AWARDED SUBCONTRACT DESCRIPTION AMOUNT NAME AND ADDRESS OF SOLICITED M/WBE FIRMS SOLICITED RESPONDED AWARDED SUBCONTRACT DESCRIPTION AMOUNT NAME AND ADDRESS OF SOLICITED M/WBE FIRMS SOLICITED RESPONDED AWARDED If you have competed the Compiance Report you must aso submit a copy of this page.