Economic Development & Tax Incentives
DHC’s Economic Development and Tax Incentives Practice Group helps clients navigate tax incentive programs and economic development benefits from New York City and New York State economic development organizations, including New York City’s Economic Development Corporation, New York State’s Empire State Development Corporation, and Industrial Development Agencies and Local Development Corporations throughout the state. DHC has five offices located in New York City, NY, Albany, NY, Washington, D.C., White Plains, NY and Palm Beach, FL.
Our practice group has secured significant, often multi-million-dollar savings, for a diverse range of commercial and nonprofit clients including manufacturers, warehouse and transportation companies, food and beverage concerns, sports/athletics developments, multifamily housing projects, real estate developers, logistics/warehousing businesses, private schools, social service organizations and more.
What we do
- Structure and close local, state, and federal tax incentive packages
- Negotiate complex payment in lieu of tax agreements
- Counsel clients in tax-exempt bond financing transactions
- Secure New York City and New York State based grants
- Provide project analysis and negotiation services
- Conduct economic impact report reviews
- Advise on public-private partnerships and development projects
- Assist with economic development project annual reporting and compliance
- Lobby elected officials
Financial assistance
- Sales Tax Exemption on construction material, and eligible furniture, fixtures, and equipment
- Mortgage Recording Tax Exemption
- Payment in Lieu of Real Property Taxes or Deferral Agreement (PILOT)
- Obtention of Tax-Exempt or Taxable Bonds that provide a lower interest rate
- Employment and capital investment grant funds
- Workforce development initiatives and programs
Representative experience
- Closed multi-million-dollar tax incentive package for leading New York City manufacturing facility
- Successfully negotiated and closed $1MM New York State grant for leading New York State real estate developer
- Secured over $30,000,000 of financing and grants for a New York based County
- Represented a major distributor of trucks in connection with the acquisitions and financing of multiple locations throughout the Greater Metropolitan Area
- Negotiated complex, multi-party, economic development incentive agreement for leading social services nonprofit organization
- Represented a series of NYC Private Schools and Universities in their tax-exempt financing of its acquisition and expansion of its physical campus
- Secured the extension of a lease, with the City of New York for a major food retailers distribution facility
- Represented a major Trade Association in connection with benefit packages for both its headquarters and Trade school
- Structured and Closed 30-year property tax exemption for complex Transit Oriented Development housing community on Long Island
- Secured Multi-Million-dollar tax exemption package from New York State and Town of Babylon for an international biomedical testing company
- Created innovative, first in New York, tax incentive program to assist small and mid-size businesses
- Spearheaded Nassau County’s Superstorm Sandy Economic Recovery Taskforce and delivered direct financial relief to over 2500 small businesses
