§ 5-12 Premises.
RCNY § 5-12
(a)Criteria for replacement premises.
(1)In order for an applicant's premises to qualify as replacement premises: (i) the applicant must take occupancy of such premises after May 3, 1985; (ii) the applicant must continue such occupancy while a special rebate is received; (iii) the premises must: (A) be non-residential; (B) be premises for which an applicant has entered into a written agreement to buy and/or lease after May 3, 1985; (C) be located in an eligible move-in area; (D) except as otherwise provided in subparagraph (E) of this paragraph, be premises with provisions to receive energy services either: (I) from a utility; (II) a vendor; or (III) NYCPUS; and (E) if such premises receive electricity from an on-site cogenerator, such on-site cogenerator shall occupy the same site as such premises; (iv) the premises such applicant previously occupied must have been located in an eligible move-out area, and the applicant must have occupied such premises for a continuous period of twenty-four (24) months during the thirty (30) month period immediately preceding the applicant taking occupancy of its new premises.
(2)An applicant's new premises shall not be considered replacement premises if the new premises are occupied as the result of a merger of the applicant with or into any other person, firm or entity, or the acquisition, by the applicant, of all or substantially all of the capital stock or assets and properties of any other person, firm or entity, unless: (i) the new premises were formerly occupied by such other person, firm or entity; (ii) such other person, firm or entity: (i) had substantially ceased business operations at the new premises prior to occupancy by the applicant; and (ii) had either: (A) filed or acquiesced in the filing against it of a petition for any relief under any bankruptcy or similar law for the protection of debtors, prior to occupancy by the applicant; or (B) applied for or acquiesced in the appointment of a trustee or receiver for all or a substantial portion of its assets and properties, prior to occupancy by the applicant; (iii) the applicant transfers or relocates, from its previously occupied premises to the new premises, a substantial amount of personnel, and/or machinery or equipment, and/or other tangible assets, and/or executory contracts (contracts not yet performed in whole or in part, and which will be performed at the new premises); and (iv) the applicant conducts, at the new premises, the same type of business conducted at its previously occupied premises and/or a type of business reasonably related thereto or constituting a reasonable expansion or growth therefrom.
(b)Criteria for specially eligible premises.
(c)Special criteria applicable to manufacturing premises located in Manhattan below 96th Street. Non-residential premises contained in real property located in the area lying south of the center line of 96th Street in the Borough of Manhattan may qualify as specially eligible premises if the criteria in paragraph (4) of subdivision (i) of § 22-601 of the Code and the provisions of subdivision (b) of this 66 RCNY § 5-12 for specially eligible premises are otherwise satisfied where such premises are used primarily for manufacturing activities, provided such premises shall be improved as a result of expenditures in an amount in excess of ten per centum of the assessed value of such real property attributable to such premises at which such real property was assessed for tax purposes for the tax year in which such improvements commenced.
