The New York City Industrial and Commercial Abatement Program (ICAP) has been extended to remain in effect through 2030, with some modifications. The New York state budget bill for FY 2026, signed by Governor Kathy Hochul on...more
New York Governor Kathy Hochul signed the bill on extending the Industrial and Commercial Abatement Program (ICAP) for an additional four years, to March 1, 2029, with no modifications to the program....more
The New York City Economic Development Corporation (NYCEDC) and the New York City Industrial Development Agency (IDA) created the New Manhattan Commercial Revitalization (M-CORE) Program with the goal of supporting...more
6/8/2023
/ Applications ,
City of New York ,
Construction Project ,
Economic Development ,
Energy Efficiency ,
ICAP ,
Infrastructure ,
Property Tax ,
Renovations ,
Tax Abatement ,
Tax Incentives
On May 1, 2023, the New York State Legislature voted to adopt the Fiscal Year 2024 budget which included the renewal and extension of the sunset date of five programs that abate real estate taxes, reduce commercial rent tax,...more
The State's new omnibus bill renewed and extended programs that abate real estate taxes, city corporate taxes, and sales taxes, and provide energy discounts to qualified applicants. Developers and businesses with new...more