Benefits are not available for any other utility property. Utilities: As of May 18, 2011, benefits are available for electricity generating units defined as Peaking Units.Construction must be completed no later than five years from the date of issuance of the first building permit, or if no permit is required, from the start of construction.Industrial construction projects that spend 40% of the Taxable Assessed Value receive additional benefits.You must spend at least 30% of the property's Taxable Assessed Value no later than four years from the date the building permit was first issued or from the start of construction if no permit is required.List of Borough, Block and Lots (BBLs) in special areas.

Special areas of the city can be viewed with the links below:

Additional benefits may be granted for new commercial construction or renovations in special areas of the City.

Lower Manhattan in the area between Murray Street, Battery Place, South Street and West Street.

Below 59th Street, specific commercial Renovation benefits are available and additional benefits are provided in:

Commercial Renovations can be anywhere in the City except in some parts of Manhattan- Areas that do not qualify: between 59th Street and 96th Street (including north side of 59th street and south side of 96th street).

New Commercial Construction can be anywhere in the City except in some parts of Manhattan- The area south of 96th Street (including the south side 96th Street) and north of Murray, Frankfort, and Dover Streets does not qualify.

Previously approved ICIP benefits were not affected.ДЄpplicants that successfully submitted their preliminary application within the required timeframe can use the combined Final ICIP/ICAP application below.

ICAP replaced the Industrial Commercial Exemption Program (ICIP) which ended in 2008. To be eligible, industrial and commercial buildings must be built, modernized, expanded, or otherwise physically improved. This program provides abatements for property taxes for periods of up to 25 years. The NFP, ICIP, and ICAP 2022-23 renewal period has begun.

Icap org com