Industrial Development Agency Program
The most powerful New York City incentive program - the IDA Straight Lease - provides significant 25 year property tax savings among other benefits and is discretionary and requires rigorous evaluation by the IDA Board and staff. For over 25 years, the principals of City One, have assisted companies through this difficult evaluative process helping to structure the transactions to meet IDA rules and eligibility requirements.
This long track record of success demonstrates that City One is uniquely familiar and knowledgeable about all aspects of the IDA application and approval process, ensuring success with the project’s real estate abatements, sales tax exemptions, mortgage recording tax deferrals, etc.
City One assists in analyzing the cost benefit of each project, assists with IDA Public Hearing and application submissions and works with IDA staff, company counsel, bank counsel, and IDA Bond counsel to meet each individual project’s timeframe to completion. City One provides post- closing services including assistance with compliance, refinancing, recapture issues, Pilot issues, project terminations, etc.