$3,000 tax credit/employee per year — Relocation Employment and Assistance Program (REAP)
Availability
Reap the Benefits
The abundance of as-of-right incentives, including significant tax and energy savings, ultimately drives value, which enhances a tenant’s business and bottom line.
City incentives package* includes:
35-45% reduction in electric and natural gas costs— Energy Cost Savings Program (ECSP)
30-35% reduction in electric delivery — Business Incentives Rate (BIR)
No commercial rent tax
* Other discretionary benefits may be available
| Incentive Package/Exemption (Annual Value per RSF) |
Low Density (200 SF per Employee) |
High Density (120 SF per Employee) |
| Relocation Employment and Assistance Program (REAP) | $15.00/RSF | $25.00/RSF |
| Energy Cost Savings Program (ECSP) and Business Incentive Rate (BIR) | $1.00/RSF | $1.00/RSF |
| Commercial Rent Tax Exemption (3.9%) | $3.00/RSF | $3.00/RSF |
| ICAP RE Tax Savings | $4.00/RSF | $4.00/RSF |
| Total Annual Savings | $23.00/RSF | $33.00/RSF |
| Incentive Package/Exemption (Annual Value per RSF) |
| Relocation Employment and Assistance Program (REAP) | |
| Low Density (200 SF per Employee) |
High Density (120 SF per Employee) |
| $15.00/RSF | $25.00/RSF |
| Energy Cost Savings Program (ECSP) and Business Incentive Rate (BIR) | |
| Low Density (200 SF per Employee) |
High Density (120 SF per Employee) |
| $1.00/RSF | $1.00/RSF |
| Commercial Rent Tax Exemption (3.9%) | |
| Low Density (200 SF per Employee) |
High Density (120 SF per Employee) |
| $3.00/RSF | $3.00/RSF |
| ICAP RE Tax Savings | |
| Low Density (200 SF per Employee) |
High Density (120 SF per Employee) |
| $4.00/RSF | $4.00/RSF |
| Total Annual Savings | |
| Low Density (200 SF per Employee) |
High Density (120 SF per Employee) |
| $23.00/RSF | $33.00/RSF |
* Other discretionary benefits may be available