Commercial Revitalization Program (CRP)

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Commercial Revitalization Program (CRP)

View Benefits Online

The Annual CRP/CEP Renewal Application period starts April 2024. The Filing deadline is July 1, 2024.

Please see below for renewal applications.

This program is designed to increase commercial tenant occupancy in older buildings in lower Manhattan by encouraging owners to invest in building improvements. The Commercial Revitalization Program (CRP) provides tax incentives through a property tax abatement and a Commercial Rent Tax Special Reduction for nonresidential or mixed-use buildings built before 1975. Your property must be located in a designated abatement zone. You are required to make certain minimum capital improvements to the property to qualify.

Frequently Asked Questions

What specific types of "expenditures" can be attributed to the required threshold?
Eligible expenditures must be permanent, capital improvements to real property with a useful life of at least three years. This includes construction work such as electrical, plumbing, HVAC, drywall partition and associated painting, building-wide cabling/wiring, elevator and lobby work. Architectural and engineering costs to support such capital improvements are also eligible. It does NOT include expenditures for personal property like furniture including cubicles, computers and associated cabling/wiring, shelving or storage units. Expenditures for ordinary repairs, maintenance, replacements or decorations are also not eligible.

What common area investments can be claimed? What percentage of an overall building's common area investments can an individual tenant claim? How far back can the investments be claimed?
All common area expenditures that meet the definition of eligible expenditures can be claimed. There is no limit on the percentage of common area expenditures that may be applied to an individual tenant. However, a specific common area expenditure may not be applied to more than one tenant. Expenditures on common areas can be claimed no earlier than 3 years before the lease commencement date.

If a lease has an "out-clause" (voided under certain circumstances), can you apply for benefits?
An eligible lease may not have an early-out clause within the CRP benefit period by either the landlord or tenant. The only exceptions are when:

the eligible premises are damaged or destroyed by fire or casualty;

the eligible premises are rendered unusable for any reason not attributable to any act or failure of either tenant or landlord;

the eligible premises are acquired by eminent domain; and

the tenant or landlord is in default of any of such party's obligations under the lease.

Why does it have to be a pre-1975 building?
The legislation governing the program defines an eligible building as a non-residential or mixed-use building located in the abatement zone that received its initial certificate of occupancy or initial temporary certificate of occupancy prior to January 1, 1975. Where an otherwise eligible building has increased its square footage subsequent to January 1, 1975 such additional space is not eligible for benefits pursuant to this program.

How will I know how much the landlord is supposed to be passing on?
Benefits are issued as a credit on the landlord's tax bill. You can locate a summary of benefits on the CRP homepage link, under the “View Benefits Online” heading.

How long does this program run?
The program is due to sunset March 31, 2030. This means that a lease must commence by, and an application must be postmarked by March 31, 2024.

Benefit

If you qualify, the owner's tax bill will be reduced and the benefit will be passed on to you as a reduction in rent. You will receive either a 5 Year or 3 Year Abatement, depending on the lease term.

Lease Term

Abatement Period

Year 1

Year 2

Year 3

Year 4

Year 5

Minimum 3 years less than 5 years
3 Years
Property tax liability or $2.50 per sq. ft. whichever is less
2/3 of initial abatement
1/3 of initial abatement
Abatement Expires

5 years or more
5 Years
Property tax liability or $2.50 per sq. ft. whichever is less
2/3 of initial abatement
1/3 of initial abatement

Eligibility

Location
Eligible buildings must be located in the Title 4 abatement zone: Murray Street and Frankfort Street on the north, South Street on the east, Battery Place on the south, and West Street on the west.

Special Provisions for Fulton Street Hub Tenants
If you were a tenant in the Fulton Street Hub with a CRP Certificate of Abatement and your lease was terminated due to a takeover by eminent domain, you are eligible to receive a second Certificate of Abatement at no cost if you:

Relocate to an eligible location within the Lower Manhattan abatement zone;

Relocate within eighteen months after the first lease ends, or eighteen months after July 26, 2006 (the effective date of the law), whichever is later; and

Meet all other CRP eligibility requirements, including expenditure requirements.

Lease Information
The lease must be a "New," "Renewal," or "Expansion" lease and must begin on or before March 31, 2024. Subleases are not eligible. The lease term is based on the number of employees at the location sixty days after the lease begins. If there are fewer than 125 employees, the lease term must be at least three years. If there are more than 125 employees, the lease term must be for at least ten years.

Eligible Properties
Must be used for office space, retail stores, or private elementary or secondary schools.

Required Physical Improvements
Improvements to common areas are required. The minimum cost of improvements varies by the type of lease and number of employees.

Minimum Cost of Improvements

Lease Type

Less than 125 employees

More than 125 employees

New
$5.00 per sq. ft. of net leasable space
$35.00 per sq. ft. of net leasable space

Renewal
$5.00 per sq. ft. of net leasable space if previously occupied
$10.00 per sq. ft. for all applicable net leasable space

Expansion
$5.00 per sq. ft. of net leasable space
$35.00 per sq. ft. of net leasable space

Proof of Improvements

Spending on improvements under a lease renewal must occur within the three-year period prior to the start of the Renewal lease and up to 14 months after the tenant's rent commencement date.

Spending on improvements under New and Expansion leases must occur within the three-year period prior to the start of the lease and up to 60 days after the tenant's rent commencement date. Benefits cannot begin until one month after the rent commencement date.

Initial Application Requirements
You must submit a completed Commercial Revitalization Program application within 180 days of the start date of the lease. The application will be denied if received after this date. There are no exceptions. Please refer to the Commercial Revitalization Program Application for instructions and filing deadlines.

Forms

CRP Lower Manhattan Commercial Revitalization Program Application
(includes Proofs of Employment and Expenditures forms)

CRP Owner Renewal Application (Online)

CRP Tenant Renewal Application (Online)

General Forms

Computer Data Request - Use this form to request computer data. Upon completion of Parts A, B and C, fax this form to the Department of Finance, Legal Affairs Division.

Power of Attorney POA-1 - These instructions explain how the information entered on this power of attorney (POA) will be interpreted and the extent of the powers granted.

Military Request for Relief (from Lien Sales, ECB and Parking Judgments, and Tax Warrants)

Renewing your Abatement

To keep this benefit, you are required to submit an annual CERP Renewal form via SmartFile.

The 2024/25 Renewal Period has started. All submissions will be accepted until July 1, 2024.

Owner Application

Tenant Application

Online Renewal User Guide

Renewal Form FAQs

Section 1. General Information

Do I need to renew my CERP Tax Abatement?
Yes, any property that receives CERP abatement is required to fill out a renewal form each year.

How do I renew our CERP Tax Abatement?
Both the applicant Tenant and applicant Owner should have received a letter from Finance in late April with details on how to submit a renewal form online. If you did not receive this letter please contact Finance or call 311.

Do I have to complete the form online?
No, but completing the form online will provide you with a confirmation email and a receipt of the submission of your records. Paper forms can be requested by contacting Finance. Please note, any paper forms must be submitted on or before July 1, with a certified mailing receipt or official DOF time stamp from the Customer Business Center.

Why is it better for me to renew online?
When you renew online, we send you a confirmation email that we received your form. This gives you a record of receipt to keep for your files.

Section 2. Logging Into the Application Form

How do I access the online renewal application?
Visit CRP Renewals and CEP Renewals.

What is my User ID and Password?
Your User ID and password are in the letter we sent you in April. If you do not have your letter, contact Finance or contact 311.

I do not have the letter the Department of Finance sent me; how do I get my User ID and password?
If you do not have your letter, contact Finance or contact 311.

I want to change my password. Can I?
Yes, click Change Password on the grey bar at the top of each screen and enter your desired password. Passwords are a minimum of six (6) characters including one letter or number.

I changed my password but I forgot what I changed it to. What do I do?
Click Forgot Your Password in the log-in box. Your password will be emailed to the email address you provided.

Section 3. Owner/Tenant Information

The Owner or Tenant name is spelled or abbreviated incorrectly. How do fix it?
Contact Finance or contact 311.

What if there is a change in Building Ownership?
If there is a change in building ownership, contact Finance or contact 311. Please attach the lease transfer and be sure that the previously recorded building owner is referenced.

What if there is change in the Tenant occupying the space?
If there is a change in the tenant occupying the benefitting space, please contact Finance or contact 311.

I submitted the Contact Information incorrectly and I need to change it. What do I do?
Click Profile Information in the grey bar at the top of the screen. You will be able to change contact information as well as mailing address.

I received more than one User Name and Password for a single application. Why?
Please contact Finance or contact 311.

Will each party know if the other party completed their portion of the renewal form?
No. Each party received a notification email and subsequent letter regarding the 2015 CERP renewal process. Each party has separate User ID and password credentials and must complete and submit their associated form.

What will happen if one of the participating parties, Tenant (representative) or Owner (representative) fails to complete the renewal form?
DOF will reach out to the delinquent party before a final revocation is enacted. A failure to respond to this outstanding notification will result in the indefinite revocation of the abatement benefits for the associated application.

Section 4. Property List

The property location address is incorrect. How do I fix it?
Contact Finance or contact 311. We will review the request.

The Owner is going to sell the building; do I still need to complete the renewal form?
Yes, if the subsequent owner wants to continue the abatement credited to the property, the renewal form must be submitted on behalf of the benefitting application.

The Tenant is going to vacate the entire premises; do I still need to complete the renewal form?
No. If the tenant has already or plans to vacate the premises during the 2020/21 tax year (July – June), please contact Finance. In the email body, please identify if you are the Building Owner (representative) or the Tenant (representative) and the vacancy date.

The Tenant is going to sublet the entire premises; do I still need to complete the renewal form?
Yes, there is a section on the form that requests information on any subleased portion of the benefitting premises. Be sure to provide the sublease agreement on the forms upload option.

What do I do if the Application Number is incorrect?
Contact Finance. We will review the request.

Section 5. The Form

Do I need to submit a complete form the first time I work on it?
No, you can save your work and come back later to complete the form.

I have additional information to provide. How do I do this?
Under the Tenant form, you can upload supporting documentation while completing the renewal. If you are the Owner or Tenant with additional documentation, you should contact Finance. Please note that only: .pdf, .jpg, .jpeg, .doc and .docx can be uploaded. Each file cannot exceed 5MB.

What do I do if I start uploading documents and cannot complete the upload because the system cannot accommodate them?
If you try to upload or attach a file format that is not accepted, you will see this message: Only .pdf, .jpg, .jpeg, .doc and .docx accepted.

What happens if I walk away from my computer and have not saved or submitted my form?
If you are in the middle of completing a form and get called away AND you do not save your work, the application will time out after one hour. This means your work will be lost. Remember to click Save & Complete Later if you are going to step away from your computer.

How do I know that my form was uploaded successfully?
A confirmation email will be sent to the email address you provided.

6. Can I print a copy of my renewal form?
Yes, once you have successfully submitted your renewal application you be given an option to print the form.

7. I answered YES to a question and a textbox opened. I typed my answer but am getting an error message. What did I do wrong?
You may need to type a longer response. All text boxes require at least 25 characters.﻿﻿

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