IDA also approves tax -exempt bonds for 2 health care entities and 1 private school. On October 9, 2007, the New York City Industrial Development Agency voted to provide financial assistance to four entities.

IDA awarded the Bronx Parking Development Company $225 million in tax-exempt bonds to finance the design, construction, and renovation of three new parking garages, two existing garages and six surface lots that would serve the new Yankee Stadium. According to IDA, the parking project will create approximately 555 construction and operational jobs. (read more…)

Sites include residential developments, farmers’ market, sports complex and hotel. The New York City Economic Development Corporation issued three requests for proposals seeking developers for projects on Staten Island’s northeastern shore.

The sites are located along Front Street in Homeport, the former U.S. Navy facility in the Stapleton section of Staten Island.

The three new RFPs are part of the first phase of development under the New Stapleton Waterfront Development Plan. 3 CityLand 149 (Nov. 15, 2006). In preparation of the site, EDC will demolish the former Navy buildings, while the City will relocate the government offices that currently occupy them. (read more…)

Projects intended to spur development in Harlem and Jamaica. On September 21, 2007, the Office of the Deputy Mayor for Economic Development held a hearing in the New York City Economic Development Corporation’s offices to receive public comment on the City’s plan to seek State funds for two redevelopment projects in Harlem and Jamaica. The City hopes to secure State funding under the Restore New York’s Communities Initiative, a State initiative created last year to revitalize urban areas and stabilize neighborhoods.

Under the Restore NY plan, municipalities must submit an application to the Empire State Development Corporation that details a project on government-owned land which will attract people and investment, increase the tax base, improve municipal finances and lessen dependence on state aid. The City is limited to two annual applications of $10 million each. (read more…)

Site will be one of first parcels developed after major rezoning. The New York City Economic Development Corporation issued a request for proposals seeking a developer to purchase a 45,000-square-foot City-owned site in downtown Jamaica and develop it into a mixed-use building with retail space, housing, and parking. A two-story parking garage partially used by the NYPD currently occupies the site, which is part of the Special Downtown Jamaica District from Jamaica Avenue to 93rd Avenue, between 169th and 168th Streets.

The City approved the site for sale and rezoned it to accommodate retail, service and residential uses under the Jamaica Plan, one of the largest rezonings in the City’s history. 4 CityLand 117 (Sept. 15, 2007). (read more…)

Proposal lists a $1 purchase price for Williamsburg firehouse. The New York City Economic Development Corporation issued requests for proposals for the two former Brooklyn FDNY firehouses that spurred controversy when DCAS proposed to sell the buildings at public auction. Opposition by local community boards and Borough President Marty Markowitz to the outright sale resulted in a compromise under which the City Council voted to limit future users to community facility providers and to prohibit a sale of the firehouse at 299 DeGraw Street in Brooklyn’s Cobble Hill neighborhood. 4 CityLand 71 (June 15, 2007).

The RFPs follow-up on the Council’s vote. At 299 DeGraw Street in Cobble Hill, the proposal seeks a viable not-for-profit tenant to redevelop the 4,250-square-foot firehouse for a community, education or cultural use. The $1-a-year lease would be limited to one ten-year term with two five-year renewal options. (read more…)