Real Estate & Capital Projects SupportBuild NYC Build NYC Resource Corporation (Build NYC), a local development corporation incorporated under the New York Not-for-Profit Corporation Law, is administered by NYCEDC and assists qualified projects in obtaining tax-exempt and taxable bond financing. As a conduit bond issuer, Build NYC’s primary goal is to facilitate access to private activity tax-exempt bond financing for a variety of eligible borrowers to acquire, construct, renovate and/or equip their facilities.
New Markets Tax CreditsThe New Markets Tax Credit (NMTC) program is a federal tax credit program administered by the U.S. Department of Treasury Community Development Financial Institutions (CDFI) Fund that is designed to generate private-sector capital investment in low-income communities. The program permits taxpaying investors to receive a credit against federal income tax liability in exchange for making qualified equity investments (QEI) in designated Community Development Entities (CDEs). Substantially all of the qualified equity investment must in turn be used by the CDE to provide investments to projects and businesses in low-income communities.
NYCEDC facilitates the use of the New Markets Tax Credit program for the financing of projects in low-income communities through NYC Neighborhood Capital Corporation and strategic collaborations with a number of national CDEs.
Capital Access Loan Guarantee Program A public-private partnership that helps micro and small businesses experiencing difficulty accessing conventional bank loans to obtain loans and lines of credit up to $250,000 for working capital, leasehold improvements, and equipment purchases. Some micro lenders will consider start-up loan applications.
The program also provides up to a 40 percent guarantee on loans for qualified NYC micro (under 20 employees) and small (21-100) businesses experiencing difficulty in accessing loans.
Non-Profit Capacity Building Workshop Led by the consultant team of Penn Flood Consulting and Denham Wolf Real Estate Services, the Capacity Building Workshop is designed to help organizations begin to plan capital projects like the renovation of a facility, acquisition of space, or new construction. Participants walk away with a sense of board engagement, fundraising, budgeting, city-specific requirements on capital project funding, and the basics of construction planning and management.
Real Estate Advisory ServicesContact the Strategic Investments Group for advisory on available space in properties for sale or lease in the private market or those owned/managed by the City.
Administration of City Capital Grants NYCEDC has a dedicated team that works with private organizations that are awarded City funds by elected officials. NYCEDC administers the payment of these funds, which must be used to help underwrite the costs of capital projects that provide the City with a public benefit.