Newsletter, Requests for Proposals

Current RFPs: Week of February 6, 2017

 

If you are interested in pursuing business opportunities pertaining to procurement, please contact Mark Thompson or Tunisha W. Walker.

Capalino’s Latest Business Opportunities:

Please see the full list of Request for Proposals recently issued by City government below:

Lighting System for Joyce Theater

February 14, 2017- 175 8th Avenue, NYC

Pin number: 8571700128

Construction of an ADA Ramp+Solar Panels

February 15, 2017- At the Fireboat House located opposite Grand Street between FDR Drive and the East Riverpark, Borough of Manhattan. Contract M144-114M.

This procurement is subject to participation goals for MBEs and/or WBEs as required by Local Law 1 of 2013. Contract Under Project Labor Agreement.

Bidders are hereby advised that this contract is subject to the Project Labor Agreement (PLA) Covering Specified Renovation and Rehabilitation of City Owned Buildings and Structures entered into between the City and the Building and Construction Trades Council of Greater New York (“BCTC”) affiliated local unions. Please refer to the bid documents for further information.

Integrated Pest Management Services

February 15, 2017- This contract is to control populations of cockroaches, ants, silverfish, termites, rats, mice, ants, carpenter ants, mosquitos, pigeons, flying insects, and small mammals (e.g., squirrels, raccoons, bats) and other arthropod or vertebrate pests, including their larvae (where required) in indoor and outdoor spaces and the identification and extermination of beg bugs. The RFB consists of three aggregate classes:  Aggregate Class 1 – Manhattan, Aggregate Class 2 – Bronx and Queens, and Aggregate Class 3 – Brooklyn and Staten Island.

Procurement of Container Trees

February 16, 2017- CB’s 1-8 (Mnhttn, BX, Qns), CB’s 9-14 (BK, Qns) and SI

Pin number: 84617B0070

Bond Collateral Assistance Fund

February 17, 2017-New York City Economic Development Corporation (NYCEDC), on behalf of the New York City Department of Small Business Services (SBS), is seeking a Consultant to design and administer a program to enhance M/WBEs’ (as defined below) and small business’ ability to access surety bonds in order to perform as a prime or subcontractor on construction contracts with New York City agencies, NYCEDC or any other New York City-funded entity, as determined by SBS. The program, the Bond Collateral Assistance Fund, will support i) M/WBEs and small businesses facing obstacles to qualifying for bid, payment, performance or ancillary bonding as prime or subcontractors on construction projects and ii) surety companies in serving a broader market.

NYCEDC plans to select a Consultant on the basis of factors stated in the RFP which include, but are not limited to: the quality of the proposal, respondent’s experience and demonstrated successful experience in performing services similar to those encompassed in the RFP.

It is the policy of NYCEDC to comply with all federal, state and City laws and regulations which prohibit unlawful discrimination because of race, creed, color, national origin, sex, age, disability, marital status and other protected category and to take affirmative action in working with contracting parties to ensure certified Minority and Women-owned Business Enterprises (MWBEs) share in the economic opportunities generated by NYCEDC’s projects and initiatives. Please refer to the Equal Employment and Affirmative Compliance for Non-Construction Contracts Addendum in the RFP.

Companies who have been certified with the New York City Department of Small Business Services as Minority and Women Owned Business Enterprises (“M/WBE”) are strongly encouraged to apply. M/WBE please contact Tunisha W. Walker.

NYPD Three Wheeled Scooter

February 17, 2017- A copy of the bid can be downloaded from the City Record Online site at www.nyc.gov/cityrecord. Enrollment is free. Vendors may also request the bid by contacting Vendor Relations via email at dcasdmssbids@nulldcas.nyc.gov, by telephone at (212) 386-0044 or by fax at 212-669-7603.

Pin number: 8571700135

Retail Marketing+Branding Strategist

February 22, 2017- New York City Economic Development Corporation (NYCEDC) is seeking a consultant or consultant team to perform a strategic analysis and formulate 360-degree marketing and branding strategy for the entire public market system in NYC. NYCEDC manages a system of major public retail markets in New York City (“NYC”). These historic public retail markets serve as a critical component of the food retail infrastructure for New York City’s communities. Our public retail markets strive to achieve the City’s double bottom line goals by:

1.  Providing small business assistance to vendors, allowing them to thrive in place (anti-gentrification);

2.  Promoting the market’s unique history and the role of the community to create city-wide destination;

3.  Providing access to affordable, healthy and diverse food options;

4.  Connecting the markets and vendors to the surrounding communities through programming, events and partnerships with local community stakeholders.

The Consultant will provide fully integrated and direct communication support for the three New York City public retail markets that NYCEDC directly manages: La Marqueta in East Harlem, Moore Street Market in East Williamsburg, and Essex Street Market on the Lower East Side.  In addition, the Consultant will provide guidance on strategy and tactics for integration with the other markets in the public retail market system (e.g. Arthur Avenue Market) as well as support for the creation of new markets through partnership or direct management.

NYCEDC plans to select a consultant on the basis of factors stated in the RFP which include,  but  are  not  limited to:  the quality of  the  proposal,  experience of  key staff identified in the proposal, experience and quality of any subcontractors proposed, demonstrated successful experience in performing services similar to those encompassed in the RFP, and the proposed fee.

It is the policy of NYCEDC to comply with all federal, state and City laws and regulations which prohibit unlawful discrimination because of race, creed, color, national origin, sex, age, disability, marital status and other protected category and to take affirmative action in working with contracting parties to ensure certified Minority and Women-owned Business Enterprises (MWBEs) share in the economic opportunities generated by NYCEDC’s  projects  and  initiatives.  Please  refer  to  the  Equal  Employment  and Affirmative Compliance for Non-Construction Contracts Addendum in the RFP.

This project has Minority and Women Owned Business Enterprise (“M/WBE”) participation  goals,  and  all  respondents  will  be  required  to  submit  an  M/WBE Participation Proposal with their response.

Reconstruction of a Comfort Station

February 23, 2017- In Corporal John A. Seravalli Playground located on Hudson Street, between Horatio and Gansevoort Streets, Borough of Manhattan. M/WBE please contact Tunisha W. Walker.

Pin number: 84617B0042

Reconstruction of a Comfort Station

February 23, 2017- Crotona Park, located near the Intersection of Franklin Avenue and Crotona Park South, Bronx. M/WBE please contact Tunisha W. Walker.

Pin number: 84617B0054

Operation of Vending Machines at DPR Facilities

February 23, 2017- In accordance with Section 1-13 of the Concession Rules of the City of New York, the New York City Department of Parks and Recreation (“Parks”) is issuing, as of the date of this notice, Request for Proposals (“RFP”) for the Installation, Operation and Maintenance of Vending Machines for the Sale of Food, Beverages and Merchandise at New York City Department of Parks and Recreation Facilities citywide.

Pin number: CWP-VMS 2017

Reconstruction of Comfort Stations+Facilities

February 24, 2017- For various parks and recreation locations, Citywide. M/WBE please contact Tunisha W. Walker.

Pin number: 84617B0056

Manage Outdoor Merchandise Subconcession

February 24, 2017- It is the goal of the Alliance to draw customers to a successfully-branded merchandise subconcession offering high quality and distinctive products and to work closely with the selected Proposer to create a neighborhood amenity that is commercially successful, has an attractive image and concept, and enhances the atmosphere of the Plazas and this vibrant neighborhood.

Pin number: 84117MNTR083

Auction Services for NYCHA Surplus Materials

February 28, 2017- The New York City Housing (NYCHA), by issuing this RFP, seeks proposals from qualified firms to provide auction services, including professional coordination and processing of designated surplus NYCHA materials or other personal property which NYCHA has previously determined it no longer needs and decided to dispose of. The NYCHA Property will never include real estate. The selected Proposer will be expected to store and safeguard the NYCHA Property, hold auctions as-needed by NYCHA (on at least a monthly basis unless directed by NYCHA to hold auctions on a more or less frequent basis), maintain an inventory documenting the receipt and sale of NYCHA Property (including the sale price and date of sale), select the method of sale which it has reasonably determined will yield the highest price, and dispose of NYCHA Property pursuant to NYCHA procedures once attempts to sell have been exhausted, as detailed more fully within Section II of this RFP.

Pin number: 64803

Consultant for Sidewalk Cleaning Equipment

March 6, 2016- New York City Economic Development Corporation (NYCEDC) is seeking a consultant or consultant team for the provision of fourteen (14) high pressure concrete sidewalk surface cleaning equipment to be used in cleaning high trafficked sidewalk in the City of New York commercial corridors and industrial business zones. Such equipment must be durable and capable of operating non-stop approximately 6 hours per day. The equipment must meet certain performance, operations, maintenance and safety criteria as well as project sites accessibility.

NYCEDC plans to select a consultant on the basis of factors stated in the RFP which include, but are not limited to: the quality of the proposal, experience of key staff identified in the proposal, experience and quality of any subcontractors proposed, demonstrated successful experience in performing services similar to those encompassed in the RFP.

It is the policy of NYCEDC to comply with all federal, state and City laws and regulations which prohibit unlawful discrimination because of race, creed, color, national origin, sex, age, disability, marital status and other protected category and to take affirmative action in working with contracting parties to ensure certified Minority and Women-owned Business Enterprises (MWBEs) share in the economic opportunities generated by NYCEDC’s projects and initiatives. Please refer to the Equal Employment and Affirmative Compliance for Non-Construction Contracts Addendum in the RFP.

Companies who have been certified with the New York City Small Business Services as Minority and Women Owned Business Enterprises (“M/WBE”) are strongly encouraged to apply.

Dynamic Project at Beast 21st St. Downtown Far Rockaway

March 14, 2017- Be a part of Mayor de Blasio’s Housing New York affordable housing plan through a new development opportunity located in Downtown Far Rockaway, Queens. New York City Economic Development Corporation (NYCEDC) and the New York City Department of Housing Preservation and Development (HPD) are seeking proposals for the long-term ground lease and development of an approximately 42,500-square-foot-site (the Site) in the center of Downtown Far Rockaway. The highly visible Site is located less than a block from the A train, adjacent to a planned public plaza, and less than a mile from the beach. It is also above the 100-year and 500-year flood plains.

The RFP presents an exciting opportunity to create a mixed-use development as one of the first steps in the comprehensive revitalization of Downtown Far Rockaway. You’ll be creating a dynamic project that activates the commercial heart of the district; providing the community with needed housing, services and amenities; and contributing to the evolution of the neighborhood.

Public investments totaling $90 million are already underway in Downtown Far Rockaway and, in February 2016, Mayor de Blasio announced the allocation of an additional $91 million to act on the vision shared by the community and laid out by the Downtown Far Rockaway Working Group. This represents a total commitment of more than $180 million to the neighborhood.

As one of many strategies in the Downtown Far Rockaway Roadmap For Action, NYCEDC is currently conducting the required environmental review and preparing an application for the Uniform Land Use Review Procedure to rezone the neighborhood, including the Site, to allow for a wider range of uses, strengthening existing commercial corridors and unlocking the potential for more vibrant, mixed-use development throughout the area. For further details, visit http://www.edc.nyc/FarRockaway.  This project has M/WBE participation goals, and all respondents will be required to submit a M/WBE Narrative Form with their response.

Groundbreaking Redevelopment: Sea View Healthy Community

March 31, 2017- Approximately 80 acres of city land is available for a master planned, mixed-use community at a scenic, historic Sea View Hospital site (the “Site”) in New York City. New York City Economic Development Corporation (“NYCEDC”), in partnership with NYC Health & Hospitals and in coordination with the New York City Department of Housing Preservation and Development, is seeking proposals. Located just north of Staten Island’s verdant Greenbelt park system and replete with the dramatic New York Harbor views for which it is named, Sea View Hospital is now mostly vacant and available for redevelopment as “Sea View Healthy Community.” Consistent with the hospital’s legacy as New York City’s historic battlefront against tuberculosis and as the site of significant advances leading to its cure, Sea View Healthy Community aims to facilitate healthy living and wellbeing among its residents and visitors.

NYCEDC seeks proposals that incorporate a diverse mix of uses, including health-focused programming, retail, commercial, and community facilities (particularly medical and wellness facilities); and housing for a range of incomes, ages, and ability levels. As a “Healthy Community,” the Site’s redevelopment should promote exercise, access to nature, social engagement, and good nutrition for its residents and visitors. Given its size and location, the Site represents a unique opportunity to develop a groundbreaking concept that will be the first of its kind in the New York City and among the first of its kind in the nation.

This RFEI is not intended as a formal offering for the disposition of the Site. NYCEDC may elect to release a targeted request for proposals to selected respondents of this RFEI and, potentially, other parties at a later time. Notwithstanding the foregoing, NYCEDC reserves the right to select a developer for a portion of or the entire Site, on the basis of responses to this RFEI without any further process. Therefore, NYCEDC strongly encourages all parties interested in redeveloping all or portion(s) of the Site to submit proposals in response to this RFEI.

It is the policy of NYCEDC to comply with all federal, state, and City laws and regulations which prohibit unlawful discrimination because of race, creed, color, national origin, sex, age, disability, marital status and other protected category and to take affirmative action in working with contracting parties to ensure certified Minority and Women-Owned Business Enterprises (MWBEs) share in the economic opportunities generated by NYCEDC’s projects and initiatives. This project has M/W/DBE participation goals, and all respondents will be required to submit an M/W/DBE Participation Proposal with their response.

 Sale+Redevelopment of 11-24 Jackson Ave LIC

April 21, 2017-  The New York City Economic Development Corporation (NYCEDC), in partnership with the Metropolitan Transportation Authority (MTA), is seeking proposals from qualified developers (Respondents, each a Respondent) for the sale and redevelopment of 11-24 Jackson Avenue in Long Island City, Queens.

On a site that spans over 58,000 square feet, this project is an opportunity to create a thriving mixed-use and mixed-income development with ground floor retail, a community facility, and much-needed open space. The project represents an unprecedented opportunity for qualified developers to make a lasting, meaningful impact on our city. While the expectation of this RFP is to sell the site, NYCEDC and the MTA also reserve the right to negotiate alternate disposition structures. Please contact or visit www.nycedc.com/RFP for more information.

NYCEDC plans to select a developer on the basis of factors stated in the RFP which include, but are not limited to: the quality of the Proposal; the extent to which the Project supports a vibrant mixed-income housing program that contributes to the City’s goal of fostering economically diverse neighborhoods; the quality of the proposed commercial space, community facility space, and publicly accessible open space to serve a rapidly growing neighborhood population; the Proposal’s financial viability and the successful experience of the Respondent’s team in executing similar projects, and the proposed fee.

It is the policy of NYCEDC to comply with all federal, state and City laws and regulations which prohibit unlawful discrimination because of race, creed, color, national origin, sex, age, disability, marital status and other protected category and to take affirmative action in working with contracting parties to ensure certified Minority and Women-owned Business Enterprises (MWBEs) share in the economic opportunities generated by NYCEDC’s projects and initiatives.

This project has Minority and Women Owned Business Enterprise (M/WBE) participation goals, and all respondents will be required to submit an M/WBE Participation Proposal with their response.

Construct Infrastructure and Resiliency Improvements at H+H Facilities

June 28, 2018-New York City Economic Development Corporation (NYCEDC) is seeking qualified firms to construct infrastructure and resiliency improvements estimated at ~$173 million at four NYC Health and Hospitals (H+H) facilities: Bellevue Hospital (Manhattan), Coler Rehabilitation and Nursing Care Center (Roosevelt Island), Coney Island Hospital (Brooklyn) and Metropolitan Hospital (Manhattan). In October 2012, each facility suffered extensive flood damage as a result of Hurricane Sandy. Since then, each hospital has temporarily restored the damaged areas and, working with the Federal Emergency Management Agency (“FEMA”), have developed plans to mitigate damage from future storms and flooding.

NYCEDC, as the lead of an interagency team, is now focused on completing priority mitigation projects at these four facilities. This initial work will make existing facilities more resilient and protect against future disasters.  Once complete, these initial projects will further the City’s resiliency goals and ensure that these public hospitals have the necessary safeguards in place to operate during a storm and mitigate damage and power loss.

NYCEDC plans to prequalify firms on the basis of factors stated in the RFQ which include, but are not limited to: the firm’s demonstrated experience and expertise in the particular trade for which the firm is submitting its qualifications; the firm’s record regarding accidents and lost work days on construction projects; and the firm’s resources available for the Project.

NYCEDC and H+H will be contracting with multiple design and engineering firms for all contract documents associated with the Services.  The Construction Management firm (CM) will provide construction management services for the Project, including holding all construction subcontracts for the Project.

Notice of Funding Availability for the Preservation of Affordable Housing South of Houston Street

December 31, 2019– The City of New York Department of Housing Preservation and Development announces the availability of $11,800,000 in funding for the acquisition and preservation of affordable housing south of, and including properties on, East/West Houston Streets, bounded by the Hudson and East Rivers in Lower Manhattan to applicants who are funded pursuant to a Request for Qualifications issued by HPD (“RFQ”).

Purpose:
The purpose of the Lower Manhattan Acquisition Program is to preserve residential housing with apartments affordable to low-income households.

Program Description:

Request for Qualifications (RFQ):
In order to become qualified for participation in the program, not-for-profit organizations must respond to the RFQ and be found qualified by HPD. Applicants may respond to the RFQ available at the website below. To be considered for qualification, applicants must demonstrate ownership, management and rehabilitation experience, as well as financial strength and stability. Please refer to the RFQ for more information on qualification.

Proposals:
Qualified not-for-profit organizations may submit proposals to request acquisition funding for eligible residential buildings. Proposals will be assessed on both the viability of the project and strength of the applicant’s experience. Proposals will be evaluated and funded on a “first-come, first-served basis” for the duration of the program. The City reserves the right to accept or reject any or all applications received as a result of this advertisement.

Notice Requirements:
All not-for-profit organizations entering into negotiations with building owners must comply with tenant and owner notification procedures in accordance with the federal Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970. Information about these notification requirements will be provided to pre-qualified non-profits. The Request for Qualifications (RFQ), map of the program area, and additional information about the program are available on HPD’s website: http://www1.nyc.gov/site/hpd/developers/rfp-rfq-rfo.page. Interested parties should forward all requested documentation to the Department of Housing Preservation and Development; Attention of Lower Manhattan Acquisition Program RFQ Coordinator, 100 Gold Street—Room 9-O3, New York, NY 10038; or electronically to HPDPres@nullhpd.nyc.gov. This program is made possible by a grant from the Lower Manhattan Development Corporation, which is funded through Community Development Block Grants from the U.S. Department of Housing and Urban Development.

Andrew Cuomo, Governor
Bill de Blasio, Mayor
Alicia Glen, Deputy Mayor for Housing and Economic Development
Vicki Been, HPD Commissioner
David Emil, LMDC President
Avi Schick, LMDC Chairman

Develop Transitional Residences for Homeless Families + Drop-In Center for Adults

November 2, 2020- The Department of Homeless Services is soliciting proposals from organizations interested in developing and operating transitional residences for homeless adults and families including the Neighborhood Based Cluster Residence and drop-in centers for adults. This is an open-ended solicitation; there is no due date for submission. Proposals will be reviewed by the Department as they are received and contracts will be awarded on an on-going basis, until the agency’s capacity needs are met. DHS reserves the right to award a contract on the basis of initial offers received without discussion. Contracts will be awarded to responsible applicants whose negotiated offers are determined to be the most advantageous to the City, taking into consideration the price and other such factors and criteria set-forth in the RFP. Contract award will be subject to the timely completion of contract negotiations between the agency and the selected proposer.

It is anticipated that the transitional residence contracts will range from 3 to 30 years including renewal options and depending on the financial terms and conditions.

Pursuant to Section 312 (c) (1) (ii) of the New York City Charter, the Competitive Sealed Bid procurement method is not the most advantageous method because judgment is required in evaluating competing proposals, and it is in the best interest of the city to require a balancing of price, quality and other factors.

Thus, pursuant to Section 3-03 (c) of the Procurement Policy Board Rules, the open ended RFP will be used because the Department will select qualified providers to develop and operate transitional residences in order to address the need to create additional shelter capacity citywide. In addition, this open-ended method will provide interested applicants an opportunity to propose sites for the targeted population, as they become available for shelter development.

All proposers must meet the following minimum qualifications 1) must have a tax exempt status under 501 (c) (3) of the Internal Revenue Code and or be legally incorporated as a for-profit entity; 2) must demonstrate that they have, or can obtain by the contract start date, site control of the proposed Standalone facility location(s); and 3) must demonstrate an intent to enter into lease agreements with the owner(s) or management designee(s) for each property.

Pin number: 07100S003262

Infrastructure+Resiliency Improvements at Coney Island Hospital

May 31, 2022- New York City Economic Development Corporation (NYCEDC) is seeking qualified firms to construct infrastructure and resiliency improvements at Coney Island Hospital. Due its location, the hospital is vulnerable to extreme coastal storms and in October 2012, the facility suffered extensive flood damage as a result of Superstorm Sandy. Since then the hospital has temporarily restored the damaged areas and, working with the Federal Emergency Management Agency (“FEMA”), have developed plans to mitigate damage from future storms and flooding.

NYCEDC, as the lead of an interagency team, is now focused on the Major Work project. The construction of the Coney Island Hospital campus project is currently envisioned to build a new resilient acute care hospital tower to be known as the Critical Services Structure (“CSS”) and to include the following work:
• Provide on-site valet parking for 300 cars
• Demolition of existing buildings, including Hammett Pavilion, Building 6, and various existing site improvements;
• Renovation and selective demolition of 60,000 gross sq. feet including portions of the existing Main Building and Tower Building; and
• Build a new permanent flood mitigation structure (s) (e.g. flood wall) around the campus.

NYCEDC is seeking qualifications for the following types of construction contractors:
• Concrete Contractors • Abatement Contractors • Demolition Contractors • Electricians • Plumbers • Elevator Contractor Scaffolding/Sidewalk bridge • Mechanical – HVAC • Fire Protection • Masonry • Site/Civil Work • Low voltage electrician • Site Fencing • Painting • Carpentry • MEP Insulation • Steel Work • Roofing and Waterproofing • Spray on Fire Proofing • Tile Work • Flooring • Windows • General Contractors • Exterior Façade

NYCEDC plans to select contractors on the basis of factors stated in the RFQ which include, but are not limited to: the firm’s demonstrated experience and expertise in the particular trade for which the firm is submitting its qualifications; the firm’s composition and experience in coordinating and implementing similar projects; the firm’s familiarity with public approvals, permitting and experience working with multiple governmental agencies; the firm’s record regarding accidents and lost work days on construction projects; and the firm’s resources available for the Project.  The Services described above will require extensive coordination and collaboration among the Construction Management firm (the “CM”) hired by NYCEDC, the other construction trades working within the Project Site, and the Project Team.

NYCEDC has contracted with NBBJ to lead the design effort for all contract documents associated with the Services. The CM will provide construction management services for the Project, including holding all construction subcontracts for the Project.  NYCEDC anticipates that initial projects will be procured in Q1 2017. Design packages will continue to be completed and released periodically with final projects’ anticipated completion in May 2022. NYCEDC will issue advertisements in the City Record and provide a notice on EDC’s procurement website (www.nycedc.com) of forthcoming design packages to be issued by the CM. Once NYCEDC posts an advertisement for a forthcoming design package, firms will have approximately 30 days to provide their qualifications in order to be considered for the prequalified list of firms who will receive the bid package from the CM.

It is the policy of NYCEDC to comply with all federal, state and City laws and regulations which prohibit unlawful discrimination because of race, creed, color, national origin, sex, age, disability, marital status and other protected category and to take affirmative action in working with contracting parties to ensure certified Minority and Women-owned Business Enterprises (MWBEs) share in the economic opportunities generated by NYCEDC’s projects and initiatives.
The HHC Coney Island Hospital Major Work has a Minority and Women Owned Business Enterprises (“M/WBE”) participation goal of 30 percent. Companies who have been certified with the Empire State Development’s Division of Minority and Women’s Owned Business Development as M/WBE are strongly encouraged to apply to this RFQ. To learn more about M/WBE certification and NYCEDC’s M/WBE program, please visit http://www.nycedc.com/opportunitymwdbe.  An optional informational session will be held on Tuesday, November 22, 2016 at 11:00 am at NYCEDC. Those who wish to attend should RSVP by email to CIHRFQ@nulledc.nyc on or before November 21, 2016.

NYC Industrial Developer “Fund” for Qualified Projects Seeking Fund Support

The NYC Industrial Developer Fund is a $150 million public/private fund to provide project financing for industrial real estate development projects in New York City.  The Fund is designed to catalyze investment in 400,000 sf of new or renovated industrial real estate workspace across New York City, supporting the creation of as many as 1,200 quality and accessible industrial jobs by 2020.The Industrial Developer Fund supports industrial job-creation in New York City by providing public/private financing for industrial real estate development projects.  Total size of the Fund is $150 million, which includes approximately $60 million in public funds leveraging $90 million in private financing.

The Industrial Developer Fund provides qualified real estate developers with partial public gap-financing assistance in the form of grants, low-interest subordinate loans, and guarantees on senior private loans.  These public funds are intended to leverage owner equity so that the transaction merits traditional bank/senior lender financing provided under the Fund structure.

Qualified projects seeking fund support will be considered when high impact projects are unable to move forward due to funding gaps.  The Fund will consider both non-profit and for-profit entities.

New York City’s industrial and manufacturing sector employs 530,000 people, or 15.4 percent of the city’s private sector workforce.  The sector is a vital pathway to the middle class for many families, with median wages of $50,400 a year. In addition, more than 328,000 jobs in the sector (61.5 percent) are located outside Manhattan, 62 percent of the workforce comes from culturally diverse backgrounds, and nearly half are foreign-born. Finally, approximately 63 percent of jobs are available to individuals who do not have a college degree.

For additional information, please contact the NYCEDC Strategic Investments Group at 212.618.5737 or

 

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