Community Investment Incentive Tax Abatement Program (CIITAP)
The Community Investment Incentive Tax Abatement Program (CIITAP) is a property tax abatement program that allows property owners to apply for abatement for a portion of their property taxes for a period of up to 7 years.
In conjunction with the goals of the , the objective of CIITAP is to encourage development in the City that increase jobs, increase the tax base, promote density in the city core, encourage rehabilitation and redevelopment of underutilized sites, and help create a vibrant downtown center. Specifically, the goals as stated in the Tompkins County Comprehensive Plan are as follows:■ Strengthen and enhance the City of Ithaca’s downtown area as the urban center of the county.
■ Increase the amount and density of housing and business space in the central business districts throughout the county.
■ Promote greater density by encouraging development of existing ‘gaps’ left by abandoned buildings and vacant parcels.
Project sponsors applying for tax abatement(s) under CIITAP must meet the following size, density, location, and municipal compliance requirements:
(1) Project Size Requirement: To meet the minimum project size requirement to be eligible for tax abatements under CIITAP, a project must provide a letter from the Tompkins County Assessment Office that states the project will result in an estimated increase in the assessed value of the property by at least $500,000.
(2) Project Density Requirement: To meet the minimum density requirement to be eligible for tax abatement under CIITAP, a project must either: (a) contain a minimum of 3 occupiable stories in height; or (b) must be a major restoration of an existing structure.
(3) Project Location Requirement: To meet the location requirement to be eligible for tax abatement under CIITAP, a project must either be: (a) located in the City of Ithaca Density District; or (b) a redevelopment of a Brownfield site registered as a DEC inactive hazardous waste site.
(4) Municipal Compliance: Each property in the City of Ithaca owned by an applicant must be in full compliance with all applicable local laws and regulations, consent agreements, and orders of the Director of Code Enforcement, and current on all taxes, assessments, fees and penalties due to the City. Properties owned by an applicant in the City of Ithaca shall include any property for which an applicant or their partners has an ownership interest of 20% or more. Partners shall include any partners owning 20% or more of the project's Limited Liability Company (LLC), Corporation, or project equity.
Eligibility is determined by the Mayor of the City of Ithaca, based on the above-stated criteria. Once eligibility has been determined, the Mayor will provide a letter of endorsement to the Tompkins County Industrial Development Agency (IDA).
The CIITAP diversity toolkit is designed to help you comply with the CIITAP requirements for the inclusion of women, people of color, individuals with disabilities, and members of other diverse groups in your workforce. Please click on the link below:
CIITAP Diversity Toolkit
For more detailed information, please refer to the application form: . You may also like to refer to: CIITAP Overview. If you have any questions about the process at all, please do not hesitate to contact:
Economic Development Planner
Planning & Economic Development Division
(607) 274-6550 / firstname.lastname@example.org
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