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PROJECT AGREEMENT  \nThis UNIFORM PROJECT AGREEMENT, dated as of   1, 20  (this“Agreement”), is by and between NEW YORK CITY INDUSTRIAL DEVELOPMENT AGENCY, a corporate governmental agency constituting a body corporate and politic and a public benefit corporation of the State of New York, duly organized and existing under the laws of the State of New York, having its principal office at 110 William Street, New York, New York 10038 (the “Agency”), party of the first part, and [each of] NAME OF LESSEE, a   organized and existing under the laws of the State of   , having its principal office in New York City at   ,  , New York   (the “Lessee”), [and NAME OF SUBLESSEE, a   organized and existing under the laws of the State of   , having its principal office in New York City at   ,   , New York   (the “Sublessee”),][party][parties] of the second part (capitalized terms used herein but not defined shall have the respective meanings assigned to such terms in the Agency Lease (as defined below)) .  \nWITNESSETH:  \nWHEREAS, the Enabling Act authorizes and provides for the creation of industrial development agencies in the several counties, cities, villages and towns in the State and empowers such agencies, among other things, to acquire, construct, reconstruct, lease, improve, maintain, equip and furnish land, any building or other improvement, and all real and personal properties, including machinery and equipment deemed necessary in connection therewith, whether or not now in existence or under construction, which shall be suitable for manufacturing, warehousing, research, commercial or industrial purposes, to the end that such agencies may be able to promote, develop, encourage, assist and advance the job opportunities, health, general prosperity and economic welfare of the people of the State and to improve their prosperity and standard of living; and  \nWHEREAS, pursuant to and in accordance with the provisions of the Enabling Act, the Agency was established by the Agency Act for the benefit of the City and the inhabitants thereof; and  \nWHEREAS, to accomplish the purposes of the Act, the Agency has entered into negotiations with the Lessee [and the Sublessee] for a “project” within the meaning of the Act within the territorial boundaries of the City and located on the Land; and  \nWHEREAS, the Project will further the purposes of the Act and promote job opportunities for the benefit of the City and the inhabitants thereof; and  \nWHEREAS, to facilitate the Project, the Agency and the Lessee [and the Sublessee] have entered into negotiations to enter into a Straight-Lease Transaction pursuant to which (i) the Lessee will lease the Facility Realty to the Agency pursuant to the Company Lease,[and](ii) the Agency will sublease the Facility Realty, and lease the Facility Personalty, to the Lessee pursuant to the Agency Lease, [and (iii) the Lessee will sub-sublease the Facility Realty, and sublease the Facility Personalty, to the Sublessee pursuant to the Sublease Agreement]; and  \nWHEREAS, in furtherance of the Straight-Lease Transaction, the Agency adopted its Inducement Resolution and its Authorizing Resolution inducing and authorizing the undertaking of the Project and the Project Work, the lease of the Facility Realty by the Lessee to the Agency,[and] the sublease of the Facility Realty and the lease of the Facility Personalty by the Agency to the Lessee,[and the sub-sublease of the Facility Realty and the sublease of the Facility Personalty by the Lessee to the Sublessee]; and  \nWHEREAS, the provision by the Agency of Financial Assistance to the Lessee [and the Sublessee] through a Straight-Lease Transaction has been determined to be necessary to induce the [Lessee] [and the Sublessee] to [develop and construct/renovat","cbCainmyszExvJdT","https://ap.wps.com/l/cbCainmyszExvJdT","pdf",201730,"English","# ARTICLE I\n## DEFINITIONS AND CONSTRUCTION\n## Section 1.1. Definitions","[{\"question\":\"Who are the parties to the Uniform Project Agreement?\",\"answer\":\"The agreement is between the New York City Industrial Development Agency and the lessee, with an optional sublessee included as a party of the second part.\"},{\"question\":\"What is the purpose of the agreement?\",\"answer\":\"It provides the legal structure for an industrial development project and explains how financial assistance is facilitated through a straight-lease transaction.\"},{\"question\":\"What transaction structure does the agreement use?\",\"answer\":\"It uses a straight-lease transaction in which the lessee leases facility realty to the agency and the agency subleases/leases back realty and personalty to the lessee, with further sub-sublease options if there is a sublessee.\"}]","Uniform Project Agreement - Form template | PDF",1789594127]