Build NYC Approves Tax-Exempt Financing For Four New York City Non-Profit Institutions

Build NYC Approves Tax-Exempt Financing For Four New York City Non-Profit Institutions

New York, NY – July 25, 2012 – (RealEstateRama) — Build NYC Resource Corporation (Build NYC) today approved approximately $75.6 million in tax-exempt financing to assist four New York City non-profits. Seaview Senior Living Housing Development Fund Corporation, a not-for-profit organization formed by The Metropolitan Council on Jewish Poverty and Leewood-Seaview, was approved for approximately $33.6 million in tax-exempt bonds. The proceeds from the bonds will be used by Seaview to construct a 103,000 square foot 188-bed assisted living and memory care facility and an 11,500 square foot building for social and recreational use by residents, as well as to renovate a historical landmark building for visitors

SHARE

New York City Economic Development Corporation (NYCEDC) is the City’s primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC’s mission is to stimulate growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City’s competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City’s many opportunities.

Contact:

Phone: (212) 619-5000

Previous articleCall for Exhibitors Announced for National Clean Energy Workforce Education Conference
Next articleFORMER NORTH CAROLINA BUILDER ARRESTED AND CHARGED WITH TAX OBSTRUCTION AND CONVERSION OF GOVERNMENT PROPERTY