Living Wage Capital Fund RFP

New York City Economic Development Corporation (“NYCEDC”), on behalf of the City of New York (the “City”), is seeking proposals (“Proposals”) in response to this Request for Proposals (“RFP”) from qualified individuals or companies (“Respondents”) who will construct, renovate and/or improve commercial, retail or industrial facilities, employ a significant number of individuals in certain qualifying occupations and pay all of their respective employees a living wage.

NYCEDC intends to disburse up to a total of $10 million of capital funding provided by the City to selected Respondents for the purpose of subsidizing the costs of capital improvements for selected projects. The amount of funding received by a selected Respondent will be $8,500 for each full-time equivalent employee or independent contractor who works in certain qualified occupations.  Recipients of funding will be required to pay a living wage to all of their employees and certain other individuals working at the project facility for the life of the capital asset being improved.  In order to secure the performance of these obligations, recipients of funding will be required to execute and record a performance mortgage against the project facility.

Submission Deadlines:

January 24, 2014

April 25, 2014

July 24, 2014

December 22, 2014

Read More and Download Application Here:

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