Straight-lease (Industrial Incentive Program) transaction for Petroform Products Corp., a real estate holding company, for the benefit of Acme Metal Cap Co., Inc., a manufacturer of stamped components, and American Star Cork Co., an affiliate that imports and manufactures composition cork, in connection with the constructing and installing of a photovoltaic system in an approximately 16,950 square foot existing building on an approximately 13,900 square foot parcel of land, located at 33-53 62nd Street, Woodside, Queens, New York, Block 1185, Lot 43. The financial assistance proposed to be conferred by the Agency will consist of payments in lieu of City real property taxes, exemption from City and State mortgage recording taxes and exemption from City and State sales and use taxes.

Approximately $30,000,000 civic facility revenue bond transaction for the American National Red Cross, a not-for-profit humanitarian organization, for the benefit of the American Red Cross in Greater New York, a chapter of the American National Red Cross, in connection with the acquisition, renovation, furnishing, and equipping of an approximately 104,000 square foot, 4-story building with below grade garage space located on an approximately 25,000 square foot parcel of land located at 514 West 49th Street, New York, New York, which will serve as the headquarter offices for the American Red Cross in Greater New York. The financial assistance proposed to be conferred by the Agency will consist of such bond financing and exemption from City and State mortgage recording taxes.

Approximately $12,600,000 civic facility bond transaction for the benefit of Cong. Machne Chaim Inc. d/b/a Bais Sarah Educational Center For Girls, a not-for-profit private girls school, in connection with the financing and/or refinancing of costs related to (i) the acquisition, improvement, furnishing and equipping of an three-story, approximately 63,000 square foot building located on an approximately 30,000 square foot parcel of land, and (ii) the construction and equipping of an approximately 21,000 square foot additional floor, located at 6101-6123 16th Avenue, Brooklyn, New York, to be used as a school serving girls in pre-kindergarten through grade twelve. The financial assistance proposed to be conferred by the Agency will consist of such bond financing and exemption from City and State mortgage recording taxes.

Straight-lease (commercial retention) transaction for the benefit of Bank of America Corporation and its eligible affiliates for the renovation of approximately 343,736 square feet of office space located at 50 Rockefeller Center, New York, New York (third through 14th floors), and the acquisition and/or leasing and installation of machinery, equipment, furniture, fixtures and other tangible personal property all for use at the above location. The financial assistance proposed to be conferred by the Agency will consist of exemption from City and State sales and use taxes. This project was induced and authorized on February 10, 2004 and November 9, 2004 respectively. No new financial assistance is being provided.

Approximately $7,000,000 civic facility revenue bond transaction for the benefit of Bnos Bais Yaakov of Far Rockaway, an independent, not-for-profit private girls school to finance and refinance the costs incurred in connection with the acquisition, construction and equipping of an approximately 78,266 square foot facility located on an approximately 78,925 square foot parcel of land located at 613 Beach 9th Street, Far Rockaway, Queens, New York for use as a school serving students from nursery school through grade eight. The financial assistance proposed to be conferred by the Agency will consist of such bond financing and exemption from City and State mortgage recording taxes.

Approximately $4,000,000 civic facility revenue bond transaction for the benefit of Miller Day Care Center, Inc. d/b/a Basic Trust, an independent, not-for-profit childcare center, in connection with the acquisition, renovation, furnishing and equipping of an approximately 5,000 square foot building located on an approximately 1,855 square foot parcel of land located at 107 West 85th Street, New York, New York, to be used as a childcare center serving children from nursery through preschool. The financial assistance proposed to be conferred by the Agency will consist of such bond financing and exemption from City and State mortgage recording taxes.

Straight-lease (Industrial Incentive Program) transaction for a real estate holding company to be formed for the benefit of B. P. Air Conditioning Corp., a wholesale distributor of air conditioning, heating and refrigeration systems and related services, in connection with the acquisition, renovation and equipping of an approximately 22,500 square foot facility comprised of two connected buildings on an approximately 10,000 square foot parcel of land located at 84-00 73rd Avenue, Glendale, Queens, New York, Block 3810, Lots 444, 83, 90, 435, all part of Glendale Business Park. The financial assistance proposed to be conferred by the Agency will consist of payments in lieu of City real property taxes, exemption from City and State mortgage recording taxes and exemption from City and State sales and use taxes.

Straight Lease transaction for the benefit of Dynamite Decorators, Inc., a wholesaler and importer of textiles and textile products, in connection with the acquisition, renovation and equipping of an approximately 77,000 square foot building, located on an approximately 77,000 square foot parcel of land, located at 1130 Linwood Street (a.k.a.1094-1138 Linwood Street, 12457-12479 Flatlands Avenue and 1011-1047 Elton Street) or Block 4427, Lot 1, in Brooklyn, New York. The financial assistance proposed to be conferred by the Agency will consist of payments in lieu of City real property taxes, exemption from City and State mortgage recording taxes and exemption from City and State sales and use taxes.

Straight Lease transaction for the benefit of Generation Next of Far Rockaway, LLC and Famous Horse, Inc. on behalf of Federal Jeans, Inc., a wholesaler and distributor of denim apparel products and VIM Stores, a retailer of apparel products, in connection with the acquisition of an approximately 289,018 square foot parcel of land identified as Block 16100, Lots 31 & 38, Block 16103, Lots 1 & 60, Block 16104, Lots 1, 25 & 28, Block 16105, Lot 1, Block 16106, Lot 1, and the Street beds of Beach 79th, Beach 80th, Beach 81st, Beach 82nd, Beach 83rd & Finnard Ave in Queens, New York, and the construction, furnishing and equipping of an approximately 154,000 square foot building located thereon. The financial assistance proposed to be conferred by the Agency will consist of payments in lieu of City real property taxes, exemption from City and State mortgage recording taxes and exemption from City and State sales and use taxes.

Approximately $6,500,000 industrial development revenue bond transaction for the benefit of International Stone Accessories Marble & Granite Inc., a manufacturer, fabricator, and seller of customized natural stone and synthetic structural and decorative materials, and certain of its affiliates, in connection with the (i) acquisition and demolition of an approximately 7,500 square foot building located on an approximately 17,500 square foot parcel of land located at 41-49 Spencer Street, Brooklyn, New York, and (ii) construction of an approximately 60,000 square foot facility on the aforementioned property to be used as (a) a facility for the manufacturing, fabricating, and selling of customized natural stone and synthetic structural and decorative materials and (b) an affiliated professional school and exhibition space. The financial assistance proposed to be conferred by the Agency will consist of such bond financing, payments in lieu of City real property taxes, exemption from City and State mortgage recording taxes, and exemption from City and State sales and use taxes.

Approximately $995,000 civic facility revenue bond transaction for the benefit of Life’s WORC, Inc., a provider of residential and habilitation services for people with developmental disabilities, in connection with the acquisition, renovation, equipping, furnishing, and/or refinancing of an approximately 1,344 square foot building located on an approximately 2,500 square foot parcel of land located at 138-15 Whitelaw Street, Ozone Park, Queens, New York. The financial assistance proposed to be conferred by the Agency will consist of such bond financing and exemption from City and State mortgage recording taxes.

Approximately $2,187,500 civic facility revenue bond transaction for the benefit of Queens Parents Resource Center, Inc., a provider of residential and habilitation services for people with developmental disabilities, in connection with the acquisition, renovation, equipping, furnishing, and/or refinancing of the following facilities: (i) an approximately 7,500 square foot building located on an approximately 10,000 square foot parcel of land located at 112-40 Francis Lewis Blvd., Queens Village, Queens, New York, for an approximate cost of $1,250,000; and (ii) an approximately 2,700 square foot building located on an approximately 3,500 square foot parcel of land located at 76-32 Park Lane South, Woodhaven, Queens, New York, for an approximate cost of $937,500. The financial assistance proposed to be conferred by the Agency will consist of such bond financing and exemption from City and State mortgage recording taxes.

Approximately $1,500,000 civic facility revenue bond transaction for the benefit of Services for the Underserved, Inc., a provider of habilitation services for people with developmental disabilities, in connection with the acquisition and renovation, furnishing, equipping and/or refinancing of the following facility: an approximately 8,000 square foot condominium office on the 7th floor and an approximately 8,000 square foot condominium office on the 10th floor, in a building located on an approximately 163,000 square foot parcel of land at 305 7th Avenue, New York, New York. The financial assistance proposed to be conferred by the Agency will consist of such bond financing and exemption from City and State mortgage recording taxes.

Approximately $8,000,000 civic facility revenue bond transaction for the benefit of Sponsors for Educational Opportunity Inc., a New York not-for-profit corporation that fosters the academic, personal and career development of students of color, in connection with the acquisition, construction, renovation, furnishing and equipping of one or more office condominium units and related common elements, consisting in the aggregate of approximately 14,866 square feet in a mixed-used condominium project known as the Downtown Condominium located at 15 Broad Street, New York, New York, Block 26, Lot 1, all for the purpose of providing such entity with office space for its operations. The financial assistance proposed to be conferred by the Agency will consist of such bond financing and exemption from City and State mortgage recording taxes.

Straight Lease (Industrial Incentive Program) transaction for Dragon Development LLC for the benefit of Strong America Limited and Strong International Trading Corp., importers and wholesalers of Asian foods, in connection with the acquisition, renovation and equipping of an approximately 48,800 square foot building on an approximately 61,000 square foot parcel of land, located at 2-39 54th Avenue, Queens, New York. The financial assistance proposed to be conferred by the Agency will consist of payments in lieu of City real property taxes, exemption from City and State mortgage recording taxes and exemption from City and State sales and use taxes.

Approximately $20,000,000 civic facility revenue bond transaction for the benefit of Tides Two Rivers Fund, a not-for-profit corporation that develops infrastructure projects for non-profit organizations, in connection with the acquisition, construction, renovation, furnishing and equipping of one or more office condominium units and related common elements, consisting in the aggregate of approximately 31,352 square feet, in a mixed-used condominium project known as the Downtown Condominium located at 15 Broad Street, New York, New York, Block 26, Lot 1, all for the purpose of creating a multi-tenant, non-profit office center. The financial assistance proposed to be conferred by the Agency will consist of such bond financing and exemption from City and State mortgage recording taxes.

To amend the Agency’s Uniform Tax Exemption Policy established pursuant to Section 874(4)(a) of the Article 18-A, Title 1 of the General Municipal Law (the "Act"), which is applicable to the provision of financial assistance pursuant to Section 859(a) of the Act, to provide guidelines for the provision of financial assistance by the Agency for projects within the Hudson Yards Redevelopment Area, defined more particularly as that area in the Borough of Manhattan bounded by a line starting from a point at centerline of Eleventh Avenue at its intersection with West 30th Street, then running easterly along West 30th Street, northerly along Ninth Avenue one block, easterly along West 31st Street to a point 250 feet west of Seventh Avenue, then northerly to West 33rd Street, easterly to Eighth Avenue, northerly to the intersection of Eighth Avenue and West 35th Street, then westerly along West 35th Street to a point 100 feet west of Eighth Avenue, then northerly parallel to Eighth Avenue to West 39th Street, easterly 100 feet to Eighth Avenue, northerly to the intersection of West 43rd and Eighth Avenue, westerly to Ninth Avenue, southerly to West 42nd Street, westerly to Tenth Avenue, northerly to West 43rd Street, westerly to Twelfth Avenue, southerly to West 41st Street, easterly to the centerline of Eleventh Avenue, and then southerly to the intersection with West 30th Street to the point or place of beginning.

Approximately $2,500,000 civic facility revenue bond transaction for the benefit of Women’s League Community Residences, Inc., a provider of habilitation and early intervention services for children and adults with developmental disabilities, in connection with the acquisition, renovation, equipping, furnishing, and/or refinancing of an approximately 6,300 square foot residential building located on an approximately 6,800 square foot parcel of land located at 4018 Manhattan Avenue, Brooklyn, New York. The financial assistance proposed to be conferred by the Agency will consist of such bond financing and exemption from City and State mortgage recording taxes.

Straight-lease (Industrial Incentive Program) transaction for a real estate holding company to be formed for the benefit of SKH Trading Company, Inc. (d/b/a Wonder Foods) and one or more affiliates, distributors of various dried and frozen food products, in connection with the acquisition, renovation and equipping of an approximately 56,500 square foot building on an approximately 65,300 square foot plot of land located at 131-151 Morgan Avenue, Brooklyn, New York, Block 3056, Lot 140. The financial assistance proposed to be conferred by the Agency will consist of payments in lieu of City real property taxes, exemption from City and State mortgage recording taxes and exemption from City and State sales and use taxes.

Approximately $4,153,000 civic facility revenue bond transaction for the benefit of Young Adult Institute, Inc., a provider of habilitation and educational services for people with developmental disabilities, in connection with the acquisition and/or leasing, renovation, furnishing, equipping and/or refinancing of the following facilities: (i) the 9th and 11th floor of an approximately 527,280 square foot building located on an approximately 34,650 square foot parcel of land located at 460 West 34th Street, New York, New York, for an approximate cost of $1,458,000; (ii) an approximately 3,720 square foot building on an approximately 5,277 square foot parcel of land located at 281 West 261 Street, Bronx, New York, for an approximate cost of $1,475,000; and (iii) an approximately 4,000 square foot building on an approximately 2,100 square foot parcel of land located at 48-46 58th Place in Woodside, Queens, New York, for an approximate cost of $1,220,000. The financial assistance proposed to be conferred by the Agency will consist of such bond financing and exemption from City and State mortgage recording taxes.

Pursuant to Section 859a of the General Municipal Law of the State of New York and Internal Revenue Code Section 147(f), the Agency will hold a hearing on the proposed financings and transactions set forth above at the office of the New York City Economic Development Corporation ("NYCEDC"), 110 William Street, 6th Floor, New York, New York commencing at 10:00 A.M. on Thursday, August 4, 2005. Interested members of the public are invited to attend. The Agency will present information at such hearing on the proposed financings and transactions set forth above. Pursuant to subdivision 3 of the above-referenced Section 859a, the Agency will, in addition, provide an opportunity for the public to review at such hearing the project application and the cost-benefit analysis for each of the proposed financings and transactions. For those members of the public desiring to review project applications and cost benefit analyses before the date of the hearing, copies of these materials will be made available, starting on or about noon on the Friday preceding the hearing. Persons desiring to obtain copies should call (212) 312-3543. Persons desiring to make a brief statement regarding the proposed financings and transactions should give prior notice to the Agency at the address or phone number shown below. Written comments may be submitted to the Agency to the attention of Mr. David Shelley at the address shown below. Please be advised that certain of the aforementioned proposed financings and transactions may possibly be removed from the hearing agenda prior to the hearing date. Information regarding such removals will be posted on NYCEDC’s web site, www.nycedc.com on or about noon on the Friday preceding the hearing.

New York City Industrial Development Agency

110 William Street, 6th Floor

New York, New York 10038

(212) 312-3543