Archives of the Mayor's Press Office

FOR IMMEDIATE RELEASE
Date: Thursday, June 24 1999

Release #246 -99

Contact: Sunny Mindel/Curt Ritter 212/788-2958
Bernadette O'Leary 212/312-3523 (EDC)


MAYOR GIULIANI ISSUES REQUESTS FOR PROPOSALS TO DEVELOP 1.5 MILLION-SQUARE-FEET OF CITY-OWNED PROPERTY

Nine Properties With Unique Development Opportunities Available For Development

Mayor Rudolph W. Giuliani today issued Requests for Proposals (RFP) for the development of 1.5 million-square-feet of City-owned properties. The New York City Economic Development Corporation (EDC) is offering nine groups of properties, each suitable for a variety of commercial, industrial, retail and residential purposes, for development. The nine properties, located throughout the City, include a former courthouse in Far Rockaway, Queens.

"By issuing these RFP's, the City is taking another step to encourage private development of City-owned property, which will generate jobs for New Yorkers and put under-used City-owned property back on the tax rolls," said Mayor Giuliani. "Last year, EDC's real estate development group sold or leased 16 City-owned properties valued at $70 million. These projects are expected to generate $1.9 billion in private investment and more than 4,500 new jobs."

Many of these properties are eligible for the Industrial and Commercial Incentive Program (ICIP), a tax exemption/abatement program based on the value of improvements to the land. Some of the properties are also within New York State Economic Development Zones, making them eligible for business wage, sales and investment tax credits.

Individuals interested in submitting proposals can attend an informational meeting on Wednesday, July 21st, at 9:30 a.m. at Pace University's Downtown Theater located on Spruce Street between Park Row and Gold Street in Lower Manhattan. Completed proposals must be submitted to EDC, 110 William Street, New York, NY 10038, by 2 p.m. on September 27, 1999. Individuals who plan to attend the informational meeting or who need additional information on the properties should call EDC at (212) 312-3969 or e-mail info@newyorkbiz.com.
CHAMBERS AND WEST STREETS, MANHATTAN


11th AVENUE AND WEST 44th STREET, MANHATTAN

UPPER WEST SIDE, MANHATTAN

CENTRAL HARLEM, MANHATTAN

UPPER PARK AVENUE, EAST HARLEM

ZEREGA INDUSTRIAL PARK, THE BRONX

EAST NEW YORK IN-PLACE INDUSTRIAL PARK, BROOKLYN

HAMMEL SECTION, ROCKAWAY, QUEENS

ROCKAWAY BOULEVARD, QUEENS

www.ci.nyc.ny.us


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