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WTC Records Folder 0140 label, 2001

Machine-extracted title · confidence 100%

Archival folder label from the Office of the Mayor for World Trade Center records, identified as Folder 0140.

NYC-WTC_000136670–000136818

Folder label: “Folder 140

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NYC 9/11 Public Portal Document

cost caps at $150 per square foot for base building and $75 per square foot for tenant space. Allowable costs would include, for example, enhanced fiber optics or digital cable, high-speed Internet connections, and special computer rooms. The credit would apply to property placed in service on or after September 11, 2001, and before December 31, 2006.

Reasons for Change: Investment tax credits have been critical in encouraging capital investment. This proposal would provide an added incentive to replace damaged or destroyed property in a timely manner. In addition, taxpayers would have an incentive to invest in security system upgrades. It would reduce taxpayers' liability, while improving infrastructure and spurring investment and improving security. The Smart Buildings Technology Enhancement Credits would encourage high technology businesses, such as computer companies, financial services firms and other companies to locate or expand in lower Manhattan. State-of-the-art wiring and computer networking systems are essential components of nearly all businesses, especially the financial services industry. This would provide tax incentives to encourage building developers to rehabilitate and construct buildings to include these building improvements.

IV. Incentives to Retain a Residential Community in Lower Manhattan ➢ Resident Refundable Credit

Proposal. Provide a refundable credit against Federal income tax for individuals who live in lower Manhattan below Canal Street. The credit would be based on a sliding scale and would be indexed.

Reasons for Change: This proposal provides an incentive for residents in lower Manhattan to stay and will stimulate others to move to the area.

J:\PR\WTC\WTC4.doc

NYC-WTC 000136771

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NYC-WTC_000136771Source: NYC Law Department, mirrored locally

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