Harlem Community Development Corporation (HCDC) Financial Contribution - $20 Million

Commitment Title

Harlem Community Development Corporation (HCDC) Financial Contribution - $20 Million 

Commitment

Columbia University makes annual financial contributions to Empire State Development's (ESD) subsidiary, the Harlem Community Development Corporation (HCDC), in increasing amounts, that shall extend for 24 years after the first contribution, and will total $20 million.  In accordance with the University's commitment, the initial $500,000 contribution was paid by Columbia University in April 2012 within thirty (30) Business Days of the acquisition by ESD of all Initial Stage 1 Condemnation Parcels.  Each subsequent yearly contribution shall increase by $25,000 over the prior year’s contribution until the $20 million is paid in full, and shall be paid by Columbia University to HCDC.  Other than the initial contribution, each annual contribution shall be paid by Columbia on the first Business Day of the year in which the contribution is due. 

Columbia’s Implementation Plan

The most recent Implementation Plan Report submitted to Empire State Development, along with evidence of compliance, is available below:

Implementation Plan Report - Harlem Community Development Corporation (HCDC) Financial Contribution

1. Proof of payment

How to Access

For questions related to the funds described, contact the Harlem Community Development Corporation (HCDC).