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City Approves 33.4M for Projects Totaling 184,600 SF

NEW YORK CITY-The IDA approves funding for Staten Island Hospital, Planned Parenthood and two Bronx-based private companies. The aid is earmarked for improvements and expansions and comes in the form of tax-exempt bond financing, real estate benefits and sales tax exemptions.

By Glen Thompson | Updated on April 17, 2002

NEW YORK CITY-The city’s Industrial Development Agency has approved tax-exempt bond financing, real estate benefits and sales tax exemptions for four projects. The $33.4 million will be used for expansion and relocation of a hospital, two private companies and a not-for-profit organization.

Staten Island University Hospital will receive the lion’s share of aid. IDA has approved $17.8 million in bonds to finance the build-out and equipping of an image-guided surgery center and the relocation of angiography services at 475 Seaview Ave. on Staten Island. The center will occupy 17,100 sf on the first floor of a newly constructed 92,000-sf, six-story tower.

Another sizeable outlay will finance improvements to Planned Parenthood of America Inc.’s new Manhattan headquarters. The not-for-profit currently occupies 70,000 sf at 810 Seventh Ave. and plans to move into an additional 104,000 sf at 424-438 W. 33rd St. Renovation of the new space is scheduled to begin in August and is expected take five months.

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