§ 489-dddd. Eligibility for benefits. 1. A recipient of a certificate
of eligibility with an effective date of June thirtieth, nineteen
hundred ninety-two or before must make one-half the minimum required
expenditure within eighteen months of the effective date of such
recipient's certificate of eligibility, and make the minimum required
expenditure within thirty-six months of the effective date of such
certificate to be eligible to receive the benefits of this title. A
recipient of a certificate of eligibility with an effective date of July
first, nineteen hundred ninety-two or after must make one-half the
minimum required expenditure within thirty months of the effective date
of such recipient's certificate of eligibility, and make the minimum
required expenditure within sixty months of the effective date of such
certificate to be eligible to receive the benefits of this title;
provided, however, that a recipient of a certificate of eligibility for
renovation construction work for property located in the renovation
exemption area specified in subparagraph (ii) of paragraph (d) of
subdivision five of section four hundred eighty-nine-cccc of this title
must make one-half the minimum required expenditure within eighteen
months of the effective date of such recipient's certificate of
eligibility, or by December thirty-first, nineteen hundred ninety-four,
whichever is earlier, and make the minimum required expenditure within
thirty-six months of the effective date of such certificate, or by
December thirty-first, nineteen hundred ninety-five, whichever is
earlier, to be eligible to receive the benefits of this title; provided,
further, however, that a recipient who filed an application for a
certificate of eligibility for renovation construction work for property
located in the renovation exemption area specified in subparagraph (ii)
of paragraph (d) of subdivision five of section four hundred
eighty-nine-cccc of this title on or after July first, nineteen hundred
ninety-four, but before February first, nineteen hundred ninety-five,
must make one-half the minimum required expenditure within eighteen
months of the effective date of such certificate, or by July
thirty-first, nineteen hundred ninety-five, whichever is earlier, and
make the minimum required expenditure within thirty-six months of the
effective date of such certificate, or by July thirty-first, nineteen
hundred ninety-six, whichever is earlier, to be eligible to receive the
benefits of this title provided, further, however, that a recipient who
filed an application for a certificate of eligibility for renovation
construction work for property located in the renovation exemption area
specified in subparagraph (i) or (iii) of paragraph (d) of subdivision
five of section four hundred eighty-nine-cccc of this title on or after
July first, nineteen hundred ninety-five, must make one-half the minimum
required expenditure within eighteen months of the effective date of
such certificate, and make the minimum required expenditure within
thirty-six months of the effective date of such certificate, to be
eligible to receive the benefits of this title. Any recipient who shall
fail to make such expenditures shall become ineligible and shall pay,
with interest, any taxes for which an exemption or deferral was claimed
pursuant to this section. This subdivision shall not apply to the
recipient of a certificate of eligibility for construction of a new
building or structure that meets the requirements set forth in
subdivision nine of section four hundred eighty-nine-dddd of this title
in a new construction exemption area.

2. No benefits pursuant to this title shall be granted for
construction work on any condominium unit unless such unit is in a
building or structure which, if viewed as a whole and as if it were
under single ownership, would qualify as commercial or industrial
property. The minimum required expenditure applicable to any recipient
of a certificate of eligibility for construction work on a condominium
unit shall be equal to the minimum expenditure which would apply if a
certificate of eligibility were issued for construction work on the
entire property where such unit is located. Nothing in this subdivision
shall be construed to prevent owners of condominium units in the same
property from forming an association to be a recipient. This subdivision
shall not apply to any applicant whose property would be, or recipient
whose property is, the subject of a certificate of eligibility with an
effective date of July first, nineteen hundred ninety-two or after.

3. (a) No benefits pursuant to this title shall be granted for any
construction work unless the applicant filed an application for such
benefits on or before the date of issuance of a building permit for such
work. The requirements of this subdivision may be satisfied where the
applicant's architect, contractor or other representative authorized to
file the application for such building permit files with the department
of finance on behalf of the applicant a preliminary application
containing such information as the department of finance shall prescribe
by regulation.

(b) Notwithstanding paragraph (a) of this subdivision, an applicant
may file an application for benefits pursuant to this title for
renovation construction work for property located in the areas specified
in paragraph (c) of this subdivision, regardless of whether a building
permit for such work was issued before such application was filed,
provided that such permit was not issued before January first, nineteen
hundred ninety or after June thirtieth, nineteen hundred ninety-two, and
provided further that a final application is filed with, and accepted
by, the department of finance, on or before December thirty-first,
nineteen hundred ninety-two. The department of finance shall issue a
certificate of eligibility to such an applicant upon determining that
the applicant satisfies all other requirements of this title. The
effective date of such certificate shall be the date of acceptance by
the department of finance of a final application containing such
information as prescribed by rule of the department of finance. No
benefits pursuant to this title shall be granted for construction work
performed before the effective date of the recipient's certificate of
eligibility.

(c) Pursuant to paragraph (b) of this subdivision, an applicant may
file an application for benefits pursuant to this title for renovation
construction work for property located in the following areas in the
borough of Manhattan lying south of 96th Street:

(i) the area delineated by a line beginning at the point where the
center line of 96th Street would intersect the East River Pierhead line
and running westerly along the center line of 96th Street to the center
line of Fifth Avenue; thence southerly along said center line to the
center line of 59th Street; thence westerly along said center line to a
point one hundred fifty feet west of the center line of the Avenue of
the Americas; thence southerly parallel to the Avenue of the Americas to
the center line of 34th Street; thence easterly along said center line
to the East River Pierhead line; thence northerly along said Pierhead
line to the point of beginning; and

(ii) the area delineated by a line beginning at the point where the
center line of Fulton Street would intersect the East River Pierhead
line and running westerly along the center line of Fulton Street to the
center line of Church Street; thence southerly along said center line to
the center line of Liberty Street; thence westerly along said center
line to the Hudson River Pierhead line; thence southerly and along said
Pierhead line to the point of beginning.

(d) Notwithstanding paragraph (a) of this subdivision, an applicant
may file an application for benefits pursuant to this title for
renovation construction work for property located in the renovation
exemption area specified in subparagraph (iii) of paragraph (d) of
subdivision five of section four hundred eighty-nine-cccc of this title
within sixty days of the effective date of chapter six hundred sixty-one
of the laws of nineteen hundred ninety-five, regardless of whether a
building permit for such work was issued before such application was
filed, provided that such permit was not issued before February first,
nineteen hundred ninety-five, and provided further that a final
application is filed with, and accepted by, the department of finance,
on or before December thirty-first, nineteen hundred ninety-five. The
department of finance shall issue a certificate of eligibility to such
an applicant upon determining that the applicant satisfies all other
requirements of this title. The effective date of such certificate shall
be the date of acceptance by the department of finance of a final
application containing such information as prescribed by rule of the
department of finance. No benefits pursuant to this title shall be
granted for construction work performed before the effective date of
such certificate of eligibility.

4. No benefits pursuant to this title shall be granted to any
recipient for construction work on property any part of which is to be
used for a restricted activity.

5. No benefits pursuant to this title shall be granted for any
construction work unless the applicant shall file, together with the
application, an affidavit setting forth the following information:

(a) a statement that within the seven years immediately preceding the
date of application for a certificate of eligibility, neither the
applicant, nor any person owning a substantial interest in the property
as defined in paragraph (c) of this subdivision, nor any officer,
director or general partner of the applicant or such person was finally
adjudicated by a court of competent jurisdiction to have violated
section two hundred thirty-five of the real property law or any section
of article one hundred fifty of the penal law or any similar arson law
of another state with respect to any building, or was an officer,
director or general partner of a person at the time such person was
finally adjudicated to have violated such law; and

(b) a statement setting forth any pending charges alleging violation
of section two hundred thirty-five of the real property law or any
section of article one hundred fifty of the penal law or any similar
arson law of another jurisdiction with respect to any building by the
applicant or any person owning a substantial interest in the property as
defined in paragraph (c) of this subdivision, or any officer, director
or general partner of the applicant or such person.

(c) "Substantial interest" as used in this subdivision shall mean
ownership and control of an interest of ten per centum or more in a
property or any person owning a property.

6. If any person described in the statement required by paragraph (b)
of subdivision five of this section is finally adjudicated by a court of
competent jurisdiction to be guilty of any charge listed in such
statement, the recipient shall cease to be eligible for benefits
pursuant to this title and shall pay with interest any taxes for which
an exemption, abatement or deferral was claimed pursuant to this title.

7. In addition to any other qualifications for exemption from or
abatement or deferral of payment of taxes set forth in this title, an
applicant must be:

(a) obligated to pay real property tax on the property for which an
exemption, abatement or deferral is sought, whether such obligation
arises because of record ownership of such property, or because the
obligation to pay such tax has been assumed by contract; or

(b) the record owner or lessee of property which is exempt from real
property taxation who has entered into an agreement to sell or lease
such property to another person. Such person shall be a co-applicant
with such owner or lessee.

8. A co-applicant with a public entity shall be an eligible recipient
pursuant to this title, provided that for such period as the property
which is the subject of the certificate of eligibility is exempt from
real property taxation because it is owned or controlled by a public
entity no benefits shall be available to such recipient, pursuant to
this title. Such recipient shall receive benefits pursuant to this title
when such property ceases to be eligible for exemption pursuant to other
provisions of law, as follows: the recipient shall, commencing with the
date such tax exemption ceases, and continuing until the expiration of
the benefit period pursuant to this title, receive the benefits to which
such recipient is entitled in the corresponding tax year pursuant to
this title.

9. (a)(i) No benefits pursuant to this title shall be granted for
construction of a new building or structure in the new construction
exemption area specified in paragraph (a) of subdivision six of section
four hundred eighty-nine-cccc of this title unless (A) construction of
the foundation of such building or structure has been completed within
twelve months of the effective date of the recipient's certificate of
eligibility, or by December thirty-first, nineteen hundred ninety-seven,
whichever is earlier; and (B) construction of such building or structure
has been completed within thirty-six months of the effective date of the
recipient's certificate of eligibility, or by December thirty-first,
nineteen hundred ninety-nine, whichever is earlier.

(ii) No benefits pursuant to this title shall be granted for
construction of a new building or structure in the new construction
exemption area specified in paragraph (b) of subdivision six of section
four hundred eighty-nine-cccc of this title unless: (A) construction of
the foundation of such building or structure has been completed within
twenty-four months of the effective date of the recipient's certificate
of eligibility; and (B) construction of such building or structure has
been completed within forty-two months of the effective date of the
recipient's certificate of eligibility.

(iii) Notwithstanding subparagraph (i) of this paragraph, benefits
pursuant to this title may be granted for construction of a new building
or structure in the new construction exemption area specified in
paragraph (a) of subdivision six of section four hundred
eighty-nine-cccc of this title, provided that (A) construction of the
foundation of such building or structure has been completed by December
thirty-first, nineteen hundred ninety-eight; (B) construction of such
building or structure has been completed by December thirty-first, two
thousand; (C) such building or structure is located in the portion of
such new construction exemption area lying south of the center line of
34th Street; and (D) the applicant meets all other eligibility
requirements for benefits pursuant to this title, including, but not
limited to, the requirement that an application for a certificate of
eligibility for construction of such new building or structure shall
have been made before January first, nineteen hundred ninety-seven.

(iv) No benefits pursuant to this title shall be granted for
construction of a new building or structure in the new construction
exemption area specified in paragraph (c) of subdivision six of section
four hundred eighty-nine-cccc of this title unless (A) construction of
the foundation of such building or structure has been completed within
twenty-four months of the effective date of the recipient's certificate
of eligibility; and (B) construction of such building or structure has
been completed within forty-two months of the effective date of the
recipient's certificate of eligibility.

(b) No benefits pursuant to this title shall be granted for
construction of a new building or structure in a new construction
exemption area unless such building or structure meets the requirements
set forth in subparagraphs (i) and (ii) of this paragraph and, in
addition, meets at least two of the five requirements set forth in
subparagraphs (iii) through (vii) of this paragraph.

(i) The height of at least fifty per centum of the floors in such
building or structure shall be not less than twelve feet, nine inches
measured from the top of the slab comprising the floor to the bottom of
the slab comprising the ceiling, provided, however, that in the case of
a new building or structure that is eligible for benefits pursuant to
subparagraph (iii) of paragraph (a) of this subdivision, the height of
at least forty per centum of the floors in such building or structure
shall be not less than twelve feet, nine inches measured from the top of
the slab comprising the floor to the bottom of the slab comprising the
ceiling;

(ii) Such building or structure shall be served by fiber-optic
telecommunications wiring and shall contain vertical penetrations for
the distribution of fiber optic cabling to individual tenants on each
floor;

(iii) The total square footage of such building or structure is not
less than five hundred thousand gross square feet;

(iv) A minimum of two hundred thousand gross square feet or
twenty-five per centum of such building or structure is comprised of
floors of not less than forty thousand gross square feet;

(v) At least ten per centum of the gross square footage of such
building or structure is comprised of floors that contain no more than
eight structural columns, excluding any columns within the core or on
the periphery of such building or structure;

(vi) The electrical capacity of such building or structure is not less
than six watts per net square foot;

(vii) Emergency backup power sufficient to accommodate a need of six
watts per net square foot is available in at least two hundred thousand
gross square feet or twenty-five per centum of such building or
structure.

10. No benefits pursuant to this title shall be granted for
construction work performed pursuant to a building permit issued after
July thirty-first, two thousand eight, except that if a building permit
is issued on or before July thirty-first, two thousand eight for
construction work on a building or structure described in an application
for a certificate of eligibility filed on or before June thirtieth, two
thousand eight, construction work performed as described in such
application pursuant to any additional building permit issued on or
after August first, two thousand eight shall be eligible for benefits
pursuant to this title in accordance with this subdivision.

(a) Except as provided in paragraph (b) of this subdivision, all
construction work performed pursuant to any such application shall be
completed on or before December thirty-first, two thousand thirteen. No
benefits shall be granted for construction work performed after such
date, and any exemption granted pursuant to this title in relation to
property on which such construction work was performed shall not exceed
the amount of the exemption in effect for such property on the tax roll
for which the taxable status date is January fifth, two thousand
fourteen.

(b) All construction work performed pursuant to any such application
for the construction of a new building or structure in the new
construction exemption area specified in paragraph (c) of subdivision
six of section four hundred eighty-nine-cccc of this title shall be
completed in accordance with subparagraph (iv) of paragraph (a) of
subdivision nine of this section and, if not completed in accordance
with such subparagraph, shall not be eligible for benefits pursuant to
this title.

(c) For purposes of this subdivision, construction work as described
in an application for a certificate of eligibility shall be deemed
completed on the date on which the department of buildings of a city
that has enacted a local law pursuant to this title issues a temporary
or final certificate of occupancy or, if such construction work does not
require the issuance of a certificate of occupancy, the date on which
the applicant and the applicant's architect or professional engineer for
such construction work submit to the department of finance an affidavit
certifying that such construction work has been completed. For purposes
of this subdivision, a demolition permit shall be deemed to be a
building permit issued for construction work.