June 2002

World Trade Center Grant Program

On January 23, the Empire State Development Corporation (ESDC) announced the World Trade Center Business Recovery Grant Program, designed to provide assistance to certain businesses that were economically affected by the events of September 11. Depending on their location and size, businesses located downtown can receive up to $300,000 in grant assistance.

A business is eligible if it meets the following criteria:

The eligible area is the entire area of downtown Manhattan below 14th Street. This consists of four separately defined areas that determine the maximum available grants. The grant amounts are based on annual gross revenues and the business’ location within the eligible area:


Eligible businesses must file an application form with the following documentation:

Applications will be accepted through December 31, 2002, and processed in order of receipt.

This program is contingent on approval by the U.S. Department of Housing and Urban Development. Grant applications are subject to audit, and grant funds are subject to recapture in the event that the recipient fails to resume its operations in New York City within one year, or relocates out of New York City within three years. Finally, if a business has received assistance under any other ESDC-funded programs, this amount will be deducted from the total grant under this program.

This Month | About Us | Archives | Advertise| NYSSCPA

The CPA Journal is broadly recognized as an outstanding, technical-refereed publication aimed at public practitioners, management, educators, and other accounting professionals. It is edited by CPAs for CPAs. Our goal is to provide CPAs and other accounting professionals with the information and news to enable them to be successful accountants, managers, and executives in today's practice environments.

©2002 CPA Journal. Legal Notices

Visit the new cpajournal.com.