Real estate developer’s toolbox: An introductory guide to incentives available to developers in Upstate New York

Bringing a real estate development project from concept to reality in Upstate New York can be a daunting task. Unfortunately, many exciting proposals have never come to fruition over the years. Many times, a project is shelved because it doesn’t “pencil out,” meaning that the expected returns (in the form of rent) cannot cover the developer’s upfront costs and ongoing debt service, and the project is deemed unsustainable. To overcome this challenge, federal, state and local governments have…