Tax Abatements for Landlords Who Offer COVID "Recovery Leases" to Small-Business Tenants
GDB Firm Blog
OCTOBER 12, 2020
New York State has assisted businesses suffering economic hardship from the COVID-19 crises by enacting legislation over the past few months granting eviction moratoria and relief to individual guarantors of commercial leases. A new bill is being considered by the legislature which may offer long-term property tax abatements to commercial landlords who agree to limit rent increases and settle arrears owed by commercial tenants who have been impacted financially by the pandemic.
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