State Clients
BJH is currently undertaking a series of tax and payment-in-lieu-of-tax or PILOT analyses for New York State public clients for large-scale infrastructure projects. BJH is responsible for constructing PILOT models that include full-tax runs including as-of-right tax policy (e.g. 421-a), as well as sensitivities with discretionary tax policy built-in, including the Industrial and Commercial Abatement Program and Hudson Yards Uniform Tax Exemption Policy programming. The tax/PILOT analysis is meant to feed into full development pro formas, as well as to provide the basis for better understanding debt capacity and funding streams that may be used by the public entities to pay for infrastructure and other project related elements.
