The proposed BID on Morris Park Avenue in the Bronx would allow for an annual assessment on businesses to fund marketing and promotion services, beautification, economic development initiatives, and advocacy. 

Billtrust, a software company, announced the decision to move headquarters to Central Jersey when the New Jersey Economic Development Authority approved its application for just under $1.3 million in Grow New Jersey tax credits at the NJEDA's August meeting.

Greystone announced the closing of a $550 million permanent Freddie Mac loan for a prominent mixed-income development in Manhattan. The deal is the largest single-asset tax-exempt financing completed by Freddie Mac and the first-of-its-kind private-placement structure that includes permanent financing for hundreds of affordable housing units in New York City, according to officials.

Spurred by new laws, especially the Farm Brewery Law, and state tax incentives the number of farm breweries in New York leaped from 45 in 2014 to 168 this year. And the overall number of breweries — which includes farm brewers, micro brewers and restaurant brewers — more than doubled to 350 since 2014.

Manufacturing in New York City's garment district is in jeopardy of unraveling at its seams. The city's Economic Development Corporation may soon begin the certification process to lift the zoning laws that have protected fashion and apparel businesses in these few blocks in Midtown Manhattan for decades.

The New York State manufacturer of more than 3,000 different liquid and dry chemical products has been approved for $4.78 million in state tax breaks to relocate its operation from Glendale to an industrial building in Paterson, according to the New Jersey Economic Development Authority (EDA).

Two Capital Region, New York, communities are getting millions of dollars from the state to upgrade their water systems. The money will be used to fund water storage tanks, pump station facilities, replacing old water mains and developing new groundwater wells.

The latest developments in federal courts indicate that state subsidies for renewable energy, including renewable-energy portfolio standards and mandated procurement programs, are safe from challenges, at least for now.

A source close to the New York State Homes and Community Renewal agency, which oversees the issuance of tax-exempt bonds through the Housing Finance Agency, says it will not fund any more so-called "80/20 projects" (where a minority of the units are designated affordable) through the program until at least the end of 2018.

Join the CDFA New York/New Jersey Financing Roundtable for a special one-day conference hosted at the offices of BNY Mellon in New York City. This event will feature a number of economic development finance experts from around the states discussing development finance tools, authorities, resources and approaches, and how these can affect the New York and New Jersey economies going forward.

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