§ 62-04 Ineligible Projects, Items of Work.
RCNY § 62-04
(a)In order for a building to be characterized as rehabilitated and not characterized as newly constructed, one of the following conditions must be met before, during and after construction: (1) At least seventy-five percent (75%) of the total area of the original perimeter walls, but in any event at least fifty percent (50%) of the total area of the original non-party perimeter walls, must remain in place as perimeter walls in the building for which benefits are claimed; or (2) At least eighty percent (80%) of the original structural floor area of the building must remain in place as structural floor in the building for which benefits are claimed.
(b)Ineligible Items of Work. Rehabilitation Program Benefits are not available for: (1) Any portion of a building that results from new construction as distinguished from alterations or improvements or which represents an increase in the gross cubic content of a building from the gross cubic content in existence as of the day immediately preceding the Commencement Date.
(2)Any portion of a building occupied by stores, professional offices, community facilities or otherwise used for commercial or non-residential purposes pursuant to the classifications set forth in the Zoning Resolution.
(3)Any item of work if a building is receiving tax exemption or abatement for the same or a similar item of work as of the December 31 preceding the date of application for a Certificate of Eligibility and Reasonable Cost, provided, however, that if an item or a system which was previously repaired is replaced in its entirety while the building is still receiving Rehabilitation Program Benefits for such repair, Rehabilitation Program Benefits for the replacement shall be granted only to the extent that the Certified Reasonable Cost of the replacement exceeds the amount of the previously granted Certified Reasonable Cost attributable to the repair. (Added City Record 5/21/2025, eff. 6/20/2025)
