NY Real Prop Tax L § 499-C (2021)
2021 New York Laws RPT - Real Property Tax Article 4 - Exemptions Title 4 - Tax Abatement for Certain Commercial Properties in a City of One Million or More Persons 499-C - Eligibility Requirements.

§  499-c.  Eligibility  requirements. 1. No abatement shall be granted pursuant to this title unless:  (a) the landlord enters into a lease for eligible premises with a  new tenant or a renewal tenant and:  (1) the lease commencement date is within the eligibility period;  (2)  (i) if, by the sixtieth day following the rent commencement date, such new or renewal tenant employs  one  hundred  twenty-five  or  fewer employees  in  the  eligible  premises,  the initial lease term is for a period of at least five years or, with respect to a lease commencing  on or  after  April first, nineteen hundred ninety-seven, the initial lease term is for a period of at  least  three  years;  or  (ii)  if,  by  the sixtieth  day  following the rent commencement date, such new or renewal tenant employs more  than  one  hundred  twenty-five  employees  in  the eligible  premises,  the  initial lease term is for a period of at least ten years; and  (3) (i) if the lease is with a new tenant required  to  sign  a  lease with  an  initial  lease  term  of  at least five years, expenditures on improvements to the eligible  premises  and  the  common  areas  of  the eligible  building  are  in  an amount at least equal to ten dollars per square foot, provided, however, that with respect to a lease  commencing on  or  after  April  first,  nineteen  hundred ninety-seven, if, by the sixtieth day following  the  rent  commencement  date,  the  new  tenant employs  one  hundred  twenty-five  or  fewer  employees in the eligible premises, expenditures on improvements to the eligible premises and  the common areas of the eligible building are in an amount at least equal to five  dollars per square foot; or (ii) if the lease is with a new tenant required to sign a lease with an initial lease  term  of  at  least  ten years,  expenditures  on  improvements  to the eligible premises and the common areas of the eligible building are in an amount at least equal to thirty-five dollars per square foot; or (iii) if the  lease  is  with  a renewal  tenant,  expenditures  on improvements to the eligible premises and the common areas of the eligible building are in an amount at  least equal  to  ten  dollars  per  square  foot  for  any premises previously occupied by such renewal tenant, provided, however, that with respect to a  lease  commencing  on  or  after  April   first,   nineteen   hundred ninety-seven,  if,  by  the sixtieth day following the rent commencement date, the renewal  tenant  employs  one  hundred  twenty-five  or  fewer employees  in  the eligible premises previously occupied by such renewal tenant, expenditures on improvements to the eligible  premises  and  the common areas of the eligible building are in an amount at least equal to five  dollars  per  square  foot; and in an amount at least equal to the amount specified in clause (i) or (ii) of this  subparagraph,  depending upon  the  required  initial lease term, for any premises not previously occupied by such renewal tenant; or  (b) the landlord enters into a lease  with  an  expansion  tenant  for expansion premises and:  (1) the lease commencement date is within the eligibility period;  (2)  (i) if, by the sixtieth day following the rent commencement date, such expansion tenant employs one hundred twenty-five or fewer employees in the expansion premises, the initial  lease  term  for  the  expansion premises  is  for  a period of at least five years or, with respect to a lease commencing on or after April first, nineteen hundred ninety-seven, the initial lease term is for a period of at least three years; or  (ii) if,  by  the  sixtieth  day  following  the rent commencement date, such expansion tenant employs more than one hundred twenty-five employees  in such  expansion  premises,  the  initial  lease  term  for the expansion premises is for a period of at least ten years; and  (3) (i) if the lease is with an expansion tenant required  to  sign  a lease with an initial lease term of at least five years, expenditures on improvements  to  the  expansion  premises  and  the common areas of the eligible building are in an amount at least equal  to  ten  dollars  per square  foot, provided, however, that with respect to a lease commencing on or after April first,  nineteen  hundred  ninety-seven,  if,  by  the sixtieth  day following the rent commencement date, the expansion tenant employs one hundred twenty-five or  fewer  employees  in  the  expansion premises, expenditures on improvements to the expansion premises and the common areas of the eligible building are in an amount at least equal to five  dollars per square foot; or (ii) if the lease is with an expansion tenant required to sign a lease with an initial lease term of  at  least ten  years,  expenditures  on improvements to the expansion premises and the common areas of the eligible building are  in  an  amount  at  least equal to thirty-five dollars per square foot.   2.  No  abatement  shall  be  granted  pursuant  to  this  title if an applicant shall fail to meet any  of  the  requirements  of  this  title within  sixty  days  of  the rent commencement date; provided that for a lease with a renewal tenant, the expenditures on  improvements  required by  subdivision one of this section shall be made within one year of the lease commencement date.   3. (a) For purposes of determining whether the amount of  expenditures required  by  subdivision  one  of  this  section  have  been satisfied, expenditures on improvements to the common areas of an eligible building shall be included only if work on such improvements  commenced  and  the expenditures  are  made  on  or  after  April  first,  nineteen  hundred ninety-five  and  on  or  before  September  thirtieth,   two   thousand twenty-four; provided, however, that expenditures on improvements to the common  areas  of  an eligible building made prior to three years before the lease commencement date shall not be included.  (b) The landlord may allocate  expenditures  on  improvements  to  the common  areas of an eligible building to eligible tenants in such manner as reasonably relates to such eligible tenants.   4. For purposes of this title, the expiration date of a lease shall be determined by the expiration date  set  forth  in  such  lease,  without giving  effect  to any rights of the landlord or the tenant to terminate such lease prior to the expiration date set forth therein.   5. The lease for the eligible premises  shall  contain  the  following provisions:  (a) a statement of the tenant's percentage share;  (b)  a  statement  informing  the tenant in at least twelve-point type that:  (1) an application for abatement of real property  taxes  pursuant  to this title will be made for the premises;  (2)  the  rent,  including  amounts  payable  by  the  tenant for real property taxes, will accurately reflect any abatement of  real  property taxes granted pursuant to this title for the premises;  (3)  at  least  ten dollars per square foot or thirty-five dollars per square foot must be spent on improvements to the premises and the common areas, the amount being dependent upon  the  length  of  the  lease  and whether  it  is  a  new or a renewal lease, provided, however, that with respect to a lease commencing on or after April first, nineteen  hundred ninety-seven,  if,  by  the sixtieth day following the rent commencement date, the tenant employs one hundred twenty-five or fewer  employees  in the  relevant  premises,  at  least five dollars per square foot must be spent on improvements to the premises and the common areas; and  (4) all abatements granted with respect to a building pursuant to this title will be revoked if, during the benefit period, real  estate  taxes  or  water or sewer charges or other lienable charges are unpaid for more than one year, unless such delinquent amounts are paid  as  provided  in subdivision four of section four hundred ninety-nine-f of this title.   6. No abatement shall be granted pursuant to this title if:  (a)  a  tenant has relocated from any area of the borough of Manhattan north of the center line of 96th Street  or  from  any  portion  of  the boroughs of the Bronx, Brooklyn, Queens, or Staten Island;  (b)  the  lease  for  the  eligible  premises provides that during the initial lease term required by subdivision one of  this  section  either the  landlord  or  the  tenant  may  terminate  such  lease prior to the expiration date of such required initial lease term; provided that  such lease  may  provide that either the landlord or the tenant may terminate such lease if (1) the other party is in default of any of  such  party's obligations  under  the  lease, (2) the eligible premises are damaged or destroyed by fire or other  casualty,  (3)  the  eligible  premises  are rendered  unusable for any reason not attributable to any act or failure to act of either tenant or landlord, or (4) the  eligible  premises  are acquired by eminent domain; and  (c)  there  are  real  property taxes, water or sewer charges or other lienable charges currently due and owing on the eligible building  which is  the  subject of an application for abatement pursuant to this title, unless such real property taxes or charges are currently being  paid  in timely  installments pursuant to a written agreement with the department of finance or other appropriate agency.   7. No abatement shall be granted pursuant to  this  title  unless  the applicant  shall  file,  together  with  the  application,  an affidavit setting forth the following information:  (a) a statement that within the seven years immediately preceding  the date  of  application  for  a  certificate  of  abatement,  neither  the applicant nor any person owning a substantial interest in  the  eligible building  as  defined  in  paragraph  (c)  of  this subdivision, nor any officer, director or general partner of the applicant or such person was finally adjudicated  by  a  court  of  competent  jurisdiction  to  have violated section two hundred thirty-five of the real property law or any section  of  article  one  hundred fifty of the penal law or any similar arson law of another jurisdiction with respect to any building,  or  was an  officer,  director  or  general partner of a person at the time such person was finally adjudicated to have violated such law; and  (b) a statement setting forth any pending charges  alleging  violation of  section  two  hundred  thirty-five  of  the real property law or any section of article one hundred fifty of the penal  law  or  any  similar arson  law  of  another jurisdiction with respect to any building by the applicant or any person owning a substantial interest  in  the  eligible building  as  defined  in  paragraph  (c)  of  this  subdivision, or any officer, director or general partner of the applicant or such person, or any person for  whom  the  applicant  or  person  owning  a  substantial interest  in  the  eligible  building is an officer, director or general partner.  (c) for purposes of this subdivision and subdivision seven of  section four  hundred  ninety-nine-f of this title, "substantial interest" shall mean ownership and control of an interest of ten per centum or  more  in the eligible building or in any person owning the eligible building.