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The City’s Planning Department withdraws its proposal to increase contributions to the Theater Fund, which supports local, off-Broadway theater productions. On February 27, 2017, the Department of Planning withdrew its application to raise the contribution rate for air rights sales within Manhattan’s Special Theater Subdistrict right before the City Council’s Zoning Subcommittee was set to vote on the issue. The proposed text amendment would have instituted a higher contribution rate, established a floor sale price, altered the sale review process, and changed the parameters of the Theater Fund’s authorities. (read more…)
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Contributions from transfers of development rights by theaters in the district would be increased four fold—from $17.60 per square foot to 20 percent of the sales price. On September 7, 2016, the City Planning Commission held a public hearing on a proposed amendment to the City’s Zoning Resolution that would solidify the contribution rate to the Theater Subdistrict Fund related to the transfer of development rights from 46 listed theaters in Manhattan’s Theater Subdistrict. Currently, a transfer of development rights from an enumerated theater requires a contribution to the Theater Subdistrict Fund of $17.60 per square foot transferred. City Planning’s proposed amendment would change the contribution rate to a set 20 percent of the sales price and would establish a floor price for transfers as a basis for a minimum contribution. Additionally, the amendment would change the certification requirement of the special permit from approval by the City Planning Commission to only the Chairperson. For CityLand’s previous coverage of the Theater Subdistrict Fund click here. (read more…)
1998 zoning amendment required contribution to theater fund for transfer of development rights from certain theaters. On October 19, 2011, the City Planning Commission held a public hearing on a proposed amendment to the City rules that would increase the contribution to the Theater Subdistrict Fund connected to the transfer of development rights from 46 listed theaters in Manhattan’s Theater Subdistrict. The proposal was published in the City Record on September 15, 2011.
The City in 1982 created the Theater Subdistrict to halt further demolitions of Midtown theaters. The Subdistrict comprises an area generally bounded by West 40th and West 57th Streets and Sixth and Eighth Avenues. The Subdistrict restricted the demolition of designated theaters and permitted theaters to transfer development rights to other parcels in the area. A set of amendments to the Subdistrict approved in 1998 created a mechanism that permitted certain theaters to transfer development rights on an as-of-right basis. A theater could transfer its development rights if it committed to operate as a legitimate theater and if a financial contribution was made to the Theater Subdistrict Fund. The fund is administered by the Theater Subdistrict Council, which was created in 2007 and allocates grants to promote the theater industry.
The City Planning Commission is required to review and adjust the contribution amount no more than once every three years and no less than once every five years. The adjustment reflects changes in the assessed values of properties within the Subdistrict. In 1998, the contribution amount was set at $10 per square foot of transferred floor area and increased to $14.91 in 2006. (read more…)
