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MegadealsSubsidy Tracker Individual Entry
Company: Bear Stearns Company, Inc. #2 (1999)
Parent Company:
JPMorgan Chase
Subsidy Source: local
Location: New York
Address: 383 Madison Avenue
Zip: 10017
Project Description: The Company entered into a Commercial Incentive Bond project with NYCIDA on December 1, 1991 (amended to Commercial Straight Lease project on September 1, 1999) for a total project amount of $1,500,000,000 to commence with the acquisition, leasing, subleasing, licensing, installation, maintenance, repair and replacement of machinery, equipment, furniture, furnishings, fixtures, and other items of personalty therein or thereabout, including items of computer hardware and software, all to constitute a commercial facility for exclusive use at, or in connection with, each of One MetroTech, Brooklyn, NY, and 245 Park Avenue, New York, NY, to demolish an existing building and to construct a new building located at 383 Madison Avenue, New York, NY to serve as the Company?s new headquarters, and for the purposes of providing support operations for their securities and financial data processing, communications, facilities, general administration, accounting, bookkeeping and info systems.
Year: 2009
Major Industry of Parent: financial services
Specific Industry of Parent: banking & securities
Subsidy Value: $4,221,718
Program Name: Industrial Development Agencies
Awarding Agency: New York City Industrial Development Agency
Type of Subsidy: tax credit/rebate; property tax abatement
Source of Data:
(click here)
Notes: Subsidy value is total for the year of property tax abatements and sales tax exemptions net of payments in lieu of taxes.
Source Notes: If an online information source is not working, check the Tracker
inventory page for an updated link.