Compromise may lead to REAP revival

January 2004
Crain's New York Business;1/12/2004, Vol. 20 Issue 2, p10
New York City Mayor Michael Bloomberg and Assembly Speaker Sheldon Silver have settled their differences over the Relocation and Employment Assistance Program. According to insiders the Legislature is expected to revive the program early in the new session that began last week. The program, which expired in June, offered companies $3,000 per employee in tax credits for 12 years for moving to boroughs outside Manhattan or north of 96th Street in Manhattan, New York City, New York. The compromise reached by Bloomberg and Silver is said to include incentives for companies moving to lower Manhattan from outside the state.


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