Bonds and the Recovery Act: A Guide to Municipal Bonds Enabled Under the 2009...
January 2010Allison Lirish DeanPerhaps the most obscure aspect of the $787 billion American Recovery and Reinvestment Act is how it seeks to expand bond programs for public infrastructure and private...
View ArticleWythe Hotel
In December 2010, the Board of the New York City Capital Resources Corporation approved $15 million in Recovery Zone Facility Bond financing for a luxury boutique hotel in Williamsburg, Brooklyn. Good...
View ArticleSt. Barnabas Hospital/Arthur Management Project
On December 15, 2009, The Board of the New York City Capital Resource Corporation (CRC) approved $19.8 million in tax-free Recovery Zone Facility Bonds (RZFBs) to be used by Arthur Management...
View ArticleE Smith Legacy, LLC
This proposal for a new hotel in Harlem did not receive Recovery Zone Facility Bond financing even though it was authorized for $19.7 million by the CRC board. Media reports indicate that the developer...
View ArticleAlbee Square / City Point
Despite being one of the most profitable retail destinations in the city, Albee Square Mall in Downtown Brooklyn was demolished in 2007 to make way for a new retail development called City Point. The...
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GJNY Report: Kept in the Dark: Poor Reporting on New York City's Recovery...
March, 2011Want to learn about how a Recovery Zone Facility Bond project in your neighborhood is creating jobs? Or even whether a particular development is financed by one of these special bonds...
View ArticleSummary of RZFBs criteria in New York City
Private businesses may use RZFBs to finance a broad range of construction projects, including office buildings, industrial facilities or retail complexes. The New York City Industrial Development...
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