Relocation and Employment Assistance Program (REAP) Tax Credit: An annual credit against city business taxes of up to $3,000 per employee for companies that relocate from outside New York City or from Manhattan below 96th Street.
Commercial Expansion Program (CEP) Tax Credit: Real property tax abatements for tenants signing qualifying leases. This program makes commercial Brooklyn tenants exempt from a tax which, for Manhattan tenants, consists of approximately 3.9% of their base rent.
Industrial and Commercial Incentive Program (ICIP) Tax Credit: Partial exemption from increases in real property taxes that would otherwise result from construction or renovation of commercial buildings.
Energy Cost Savings Program: 12-year program providing discounts of up to 45 percent on the delivery portion of electric and gas bills.