New York Laws
Title 2-D - Tax Exemption and Deferral of Tax Payments for Certain Industrial and Commercial Properties in a City of One Million or More Persons
489-CCCC - Temporary Commercial Incentive Area Boundary Commission; Classes of Area; Excluded Areas.

(b) Not later than October first of each year when areas are to be
designated, the commission shall publish a notice at least once in the
city's official paper or a newspaper of general circulation in the city
setting forth the proposed boundaries of areas to be designated and the
date, not earlier than five nor later than fifteen days following the
publication of such notice, on which the commission will hold a public
hearing to hear all persons interested in the designation of areas. A
copy of such notice shall be forwarded to the local legislative body and
each community board of the city.
(c) The commission shall make such designation, and notify the local
legislative body of such designation, not later than November first of
each year when areas are to be designated. The designation shall be
effective as provided in paragraph (d) of this subdivision.
(d) Within thirty days after the first stated meeting of the local
legislative body following the receipt of notice of such designation,
the local legislative body may, by majority vote, disapprove such
designation. If, within such thirty-day period, the local legislative
body fails to act or fails to act by the required vote, the local
legislative body shall be deemed to have approved such designation. Such

designation shall be effective as of the first taxable status date after
the local legislative body approves such designation and shall remain in
effect until the first taxable status date after the local legislative
body approves a new designation pursuant to this paragraph.
3. The commission may designate areas to be special exemption areas,
regular exemption areas, deferral areas, or excluded areas in accordance
with the level of benefits such commission determines to be necessary to
encourage commercial construction work in such areas, provided, however,
that designation of areas in the city of New York shall be made in
accordance with the provisions of subdivisions four and five of this
section.
4. (a) In the city of New York, the commission may designate any area
other than the area lying south of the center line of 96th Street in the
borough of Manhattan, to be a special exemption area if it determines
that market conditions in the area are such that the availability of a
special exemption is required in order to encourage commercial
construction work in such area. In making such determination, the
commission shall consider, among other factors, the existence in such
area of a special need for commercial and job development, high
unemployment, economic distress or unusually large numbers of vacant,
underutilized, unsuitable or substandard structures, or other
substandard, unsanitary, deteriorated or deteriorating conditions, with
or without tangible blight.
(b) Any other area in such city, other than the area lying south of
the center line of 96th Street, which the commission has not designated
as a special exemption area shall be a regular exemption area.
(c) In the city of New York, on or after January first, nineteen
hundred ninety-two, the commission shall not designate any area to be
either a deferral area or an excluded area, nor shall the commission
make any new designation in any urban renewal area designated pursuant
to article fifteen of the general municipal law so as to reduce the
level of benefits available pursuant to this title in such area.
(d) Notwithstanding any other provision of this title, any area in the
city of New York designated as an empire zone in accordance with article
eighteen-B of the general municipal law, which the commission has not
designated as a special exemption area, shall be a special exemption
area as of July first, nineteen hundred ninety-five or as of the date of
the designation of such area as an empire zone, whichever is later.
5. (a) The following area in the borough of Manhattan shall, except as
otherwise provided in paragraphs (b), (c) and (d) of this subdivision
and subdivision six of this section, be an excluded area: the area in
the borough of Manhattan lying south of the center line of 96th Street
and north of the center line of 23rd Street.
(b) The following areas in the borough of Manhattan shall, except as
otherwise provided in paragraph (d) of this subdivision and subdivision
six of this section, be excluded areas as of July first, nineteen
hundred ninety-two; provided, however, that if an application for a
certificate of eligibility has been filed for commercial construction
work in such areas on or before December thirty-first, nineteen hundred
ninety-two and the recipient presents evidence satisfactory to the
department of finance: (i) (A) for a new building or structure, that
construction has been completed on a foundation, as described in
approved plans, on or before June thirtieth, nineteen hundred
ninety-three; or (B) for an existing building or structure, that at
least five per centum of the minimum required expenditure has been made
for commercial construction work, as described in approved plans, on or
before June thirtieth, nineteen hundred ninety-three; and (ii) that all
other requirements of this title have been met; then, a deferral of tax

payments pursuant to subdivision four of section four hundred
eighty-nine-bbbb of this title shall be granted for such commercial
construction work, except that no deferral of tax payments shall be
granted for commercial construction work on mixed-use property:
(1) the area delineated by a line beginning at the point where the
center line of 96th Street would intersect the Hudson River Pierhead
line and running easterly along the center line of 96th Street to the
center line of Central Park West; thence southerly along said center
line to the center line of 59th Street; thence westerly along said
center line to the Hudson River Pierhead line; thence northerly along
said Pierhead line to the point of beginning; and
(2) the area delineated by a line beginning at a point where the
center line of 59th Street would intersect with a point one hundred
fifty feet west of the center line of 8th Avenue and running easterly
along the center line of 59th Street to a point one hundred fifty feet
west of the center line of the Avenue of the Americas; thence southerly
parallel to the Avenue of the Americas to a point which is the midpoint
between the center line of 42nd Street and the center line of 41st
Street; thence westerly parallel to 41st Street to a point one hundred
fifty feet west of the center line of 8th Avenue; thence northerly
parallel to 8th Avenue to the point of beginning.
(c) The following area in the borough of Manhattan shall, except as
otherwise provided in paragraph (d) of this subdivision and subdivision
six of this section, be an excluded area as of January first, nineteen
hundred ninety-three; provided, however, that if an application for a
certificate of eligibility has been filed for commercial construction
work in such area on or before December thirty-first, nineteen hundred
ninety-two and the recipient presents evidence satisfactory to the
department of finance: (i) (A) for a new building or structure, that
construction has been completed on a foundation, as described in
approved plans, on or before December thirty-first, nineteen hundred
ninety-three; or (B) for an existing building or structure, that at
least five per centum of the minimum required expenditure has been made
for commercial construction work, as described in approved plans, on or
before December thirty-first, nineteen hundred ninety-three; and (ii)
that all other requirements of this title have been met, then, a
deferral of tax payments pursuant to subdivision four of section four
hundred eighty-nine-bbbb of this title shall be granted for such
commercial construction work, except that no deferral of tax payments
shall be granted for commercial construction work on mixed-use property:
the area delineated by a line beginning at the point where the center
line of 59th Street would intersect with the Hudson River Pierhead line;
thence southerly along said Pierhead line to the center line of Liberty
Street; thence easterly along said center line to the center line of
Church Street; thence northerly along said center line to the center
line of Fulton Street; thence easterly along said center line to the
East River Pierhead line; thence northerly along said Pierhead line to a
point which is the midpoint between the center line of 34th Street and
the center line of 33rd Street; thence westerly parallel to 33rd Street
to a point one hundred fifty feet west of the center line of the Avenue
of the Americas; thence northerly parallel to the Avenue of the Americas
to a point which is the midpoint between the center line of 42nd Street
and the center line of 41st Street; thence westerly parallel to 41st
Street to a point one hundred fifty feet west of the center line of 8th
Avenue; thence northerly parallel to 8th Avenue to the center line of
59th Street; thence westerly along said center line to the point of
beginning.
(d) Notwithstanding the provisions of paragraphs (a), (b) and (c) of
this subdivision, the following areas in the borough of Manhattan shall
be renovation exemption areas: (i) as of July first, nineteen hundred
ninety-two and until June thirtieth, two thousand eight: the area in the
borough of Manhattan lying south of the center line of 23rd Street; (ii)
as of July first, nineteen hundred ninety-two and until January
thirty-first, nineteen hundred ninety-five: the area in the borough of
Manhattan lying south of the center line of 96th Street and north of the
center line of 23rd Street; and (iii) as of July first, nineteen hundred
ninety-five and until June thirtieth, two thousand eight the area in the
borough of Manhattan lying south of the center line of 59th Street and
north of the center line of 23rd Street.
6. Notwithstanding the provisions of subdivision five of this section,
the areas in the borough of Manhattan specified in paragraphs (a), (b)
and (c) of this subdivision, except the "Project Area" described in a
lease held by the Battery Park City Authority as tenant and originally
dated as of November twenty-fourth, nineteen hundred sixty-nine and
thereafter from time to time amended, shall be new construction
exemption areas: (a) as of July first, nineteen hundred ninety-five and
until December thirty-first, nineteen hundred ninety-six: the area in
the borough of Manhattan lying south of the center line of 96th Street,
excluding the area specified in paragraph (b) of this subdivision; and
(b) as of July first, nineteen hundred ninety-five and until June
thirtieth, two thousand three: the area in the borough of Manhattan
bounded by Murray Street on the north starting at the intersection of
West Street and Murray Street; running easterly along the center line of
Murray Street; connecting through City Hall Park with the center line of
Frankfort Street and running easterly along the center line of Frankfort
and Dover Streets to the intersection of Dover Street and South Street;
running southerly along the center line of South Street to Peter Minuit
Plaza; connecting through Peter Minuit Plaza to the center line of State
Street and running northwesterly along the center line of State Street
to the intersection of State Street and Battery Place; running westerly
along the center line of Battery Place to the intersection of Battery
Place and West Street; and running northerly along the center line of
West Street to the intersection of West Street and Murray Street; and
(c) as of July first, two thousand three and until June thirtieth, two
thousand eight: the area in the borough of Manhattan bounded by Murray
Street on the north starting at the intersection of West Street and
Murray Street; running easterly along the center line of Murray Street;
connecting through City Hall Park with the center line of Frankfort
Street and running easterly along the center line of Frankfort and Dover
Streets to the intersection of Dover Street and South Street; running
southerly along the center line of South Street to Peter Minuit Plaza;
connecting through Peter Minuit Plaza to the center line of State Street
and running northwesterly along the center line of State Street to the
intersection of State Street and Battery Place; running westerly along
the center line of Battery Place to the intersection of Battery Place
and West Street; and running northerly along the center line of West
Street to the intersection of West Street and Murray Street, except the
area in the borough of Manhattan bounded by Church Street on the east
starting at the intersection of Liberty Street and Church Street;
running northerly along the center line of Church Street to the
intersection of Church Street and Vesey Street; running westerly along
the center line of Vesey Street to the intersection of Vesey Street and
West Broadway; running northerly along the center line of West Broadway
to the intersection of West Broadway and Barclay Street; running
westerly along the center line of Barclay Street to the intersection of

Barclay Street and Washington Street; running southerly along the center
line of Washington Street to the intersection of Washington Street and
Vesey Street; running westerly along the center line of Vesey Street to
the intersection of Vesey Street and West Street; running southerly
along the center line of West Street to the intersection of West Street
and Liberty Street; and running easterly along the center line of
Liberty Street to the intersection of Liberty Street and Church Street.