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    Search results for "Upper East Side, Manhattan" Economic Development Corporation

    RFEI issued for vacant Corn Exchange building

    Economic Development Corporation  •  Request for Expressions of Interest  •  East Harlem, Manhattan
    Image: Courtesy of Cityland.

    City is in process of reclaiming landmarked building after owner failed to redevelop property. On March 22, 2011, the City’s Economic Development Corporation issued a request for expressions of interest for the purchase and redevelopment of what remains of the landmarked Corn Exchange Building at the corner of East 125th Street and Park Avenue in East Harlem. The Lamb & Rich-designed six-story building was built in 1884 and has deteriorated significantly over the years.

    The building was abandoned in the 1970s and lost its two-story mansard roof after a fire in the late 1990s. EDC in 2000 selected Ethel Bates, under Corn Exchange LLC, to rehabilitate the building and establish a non-profit culinary school. EDC sold the building to Bates for $10,000 in 2003. Bates failed to redevelop the site in the required three year period, and EDC sued to reclaim the property in 2007. Supreme Court Justice Judith J. Gische awarded title of the building back to EDC in January 2009. 6 CityLand 33 (March 15, 2009). Bates has appealed the decision. While EDC’s lawsuit was pending, Landmarks filed a demolition by neglect lawsuit against Bates for failing to maintain the building, citing collapsed floors, missing windows, and water damage. Justice Gische, however, declined to order Bates to make immediate repairs, ruling that the court could not compel Bates to rehabilitate a building she no longer owned. Subsequently, the Department of Buildings in April 2009 issued an emergency violation citing dangerous conditions above the second floor and demolished the building’s top two floors. (more…)

    Tags : Corn Exchange Building, Upper Manhattan Empowerment Zone
    Date: 04/15/2011
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    Lycée Français and DoubleClick on IDA’s July Calendar

    Economic Development Corporation  •  Public Notice & Board Meeting  •  Citywide

    July public hearing notice lists $143 million in bond offerings and six straight leases. The New York City Industrial Development Agency, a component of the Economic Development Agency, held its monthly public hearing on July 19, 2007. The 14 project applications detailed in IDA’s public notice included over $143 million in bond offering and six straight leases.

    The largest bond application on the July calendar was made by the Lycée Français de New York, an exclusive Upper East Side private school, for a $55.6 million civic facility revenue bond to be used to refinance 2002 IDA bonds. The private school used the 2002 bonds to acquire, design and develop a portion of its 150,000-square-foot school located on East 75th Street at York Avenue. The financial assistance requested to be conferred by IDA for the new bond would include exemption from City and State mortgage recording taxes. (more…)

    Tags : 111 Eighth Avenue, DoubleClick, HeartShare Human Services, IDA bonds, Lycée Français
    Date: 07/15/2007
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