NYC 9/11 Public Portal Document
Economic Recovery and Revitalization
Preliminary Cost Estimate
($ in millions)
World Trade Center Recovery Zone $2,000
I. Incentives to Retain and Expand Employment in Lower
Manhattan
> Employee Retention Grants
II. Incentives to Rebuild in New York
➢ Triple Tax Exempt Reconstruction Bonds
➢ Taxable Reconstruction Bonds
➢ Additional Private Activity Bond Authority
> Deductibility of State and Local Sales Taxes
> Accelerated Depreciation, Expanded Business Expense Deduction
and Shortened Amortization Benefits for Business Expenses
III. Incentives for Relocation or Expansion in Lower Manhattan
➢ Federally-Backed Sales Tax Exemption for Parcels within the
Recovery Zone
> Investment Tax Credits for Investment in Equipment, Security
Systems and Smart Buildings Technology Enhancements
IV. Incentives to Retain a Residential Community in Lower
Manhattan
> Resident Refundable Credit
J:\PR\WTC\WTC2.doc 10
NYC-WTC 000136757
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