Business and Professional Services

Division

The Business and Professional Services Division supports the commercial revitalization of the Rockaways through the delivery of professional products and services to local businesses, landlords and residents.  Its focus is on the retention and attraction of businesses on the Rockaway Peninsula and Broad Channel.

Micro Enterprise Development

RDRC offers two PowerPoint presentations providing financial and technical assistance from the “NYC Business Solutions Center”, an initiative of the NYC Department of Small Business Services (SBS).  This unique 3 session workshop strives to “empower” the start up entrepreneur who lacks traditional access to capital requirements as well as fundamental business practices.

Orientations are offered twice a month on a first come first served basis.  Presentations are limited to eight participants to maximize “Question and Answer” sessions.  To find out more about other NYC Business Solutions Centers courses as well as other free services offered, visit www.nyc.gov/smallbiz.

Utilizing strategic partners such as Project Enterprise (www.projectenterprise.org), ACCION New York (www.accionnewyork.org), and the New York Business Development Corporation [NYBDC] (http://www.nybdc.com) RDRC is also able to provide micro-loans for small businesses.

Business Support Services

The following are the services that we can provide to your business

• Commercial Revitalization – The Commercial Revitalization of the Rockaways consist of three goals: 1) to increase tenant occupancy in office and retail space in the Rockaways, 2) reduce building vacancies through investing in older commercial space and 3) provide technical assistance through various means such as Merchant Organizing, or assisting with business improvement and beautification projects.

•  Procurement Assistance – Minority and Women Owned Businesses can apply to become certified M/WOB enterprises.  Firms that have been in business for over one year and that are at least 51% owned by a minority or woman are eligible for certification.  Applications and assistance are offered through this program. This can assist your business in obtaining a City contract! 

• Real Estate Assistance – RDRC’s commercial broker partners are ready, able, and willing to help entrepreneurs find that perfect site.  Meet with us and establish what your needs are for the ideal fit that compliments your business’ goals.

• Financial and Business Incentive Programs – Working with government agencies and private banking partners, RDRC can assist entrepreneurs assemble a viable loan package.  Whether the entrepreneur is looking to expand or acquire real estate, in need of working capital, a line of credit or lease hold improvements, etc. RDRC’s strategic partners will strive to provide the entrepreneur with competitive rates and attractive incentives.

• Employment Services – Provide us with a detailed job description regarding your staffing needs and RDRC’s Job Developer will screen and interview local applicants for your business.  RDRC’s extensive database of a pre-screened available workforce can provide Rockaway business owners with the best-qualified employee at no cost.  We will send you the most qualified individuals and save you time, money and the effort of having to find someone who can produce results.

New York State Empire Zones Program (EZ)

RDRC is the sole administrator of the EZ program for the Rockaway peninsula.   The program provides strategic tax incentives and utility discounts for eligible businesses existing, relocating, and/or opening within the zone boundaries.

Empire Zone Benefits

Empire Zone Map

For information about Long Island Power Authority (LIPA) economic development programs visit their website at www.lipower.org/ecodev

Home Buying Education and Assistance:

Homebuyer Seminars are conducted every two months at local banks throughout the Rockaway Peninsula.  General information on mortgage financing, appraisals, credit worthiness and engineering are presented during these workshops.

First Time Home Buyer Counseling is provided by appointment only.  This one-on-one counseling session provides detailed information on the home buying process. Assistance is also given to ready buyers who are seeking a mortgage.

Neighborhood Preservation Consultant Program

The Housing Preservation and Development Agency (HPD) has a department known as the “Division of Anti-Abandonment.”  This is a program which HPD provides to property owners and the goal is to prevent distressed properties from being abandoned. 

HPD contracts with a number of not-for-profit organizations, known as Neighborhood Preservation Consultants (NPCs), to provide early intervention, preservation and anti-abandonment services throughout the five boroughs. As an NPC, the Rockaway Development and Revitalization Corporation also assists HPD in identifying and assessing at-risk buildings.  

RDRC assists the Rockaway Community in the following areas in collaboration with HPD: building surveys, assistance to property owners in submitting loan/grant applications, facilitating voluntary repair agreements, conduct mass informational mailings, and engaging in short and long term interventions.

New Partners Program

The New Partners Program provides loans to owners to renovate small buildings where a portion of the building is vacant, and units are in need of rehabilitation. RDRC in cooperation with HPD, work to assist commercial property owners rehabilitate their properties, if needed. This program offers a competitive financial package for construction, rehabilitation work as well as a forgiveness agreement on existing liens. The program is targeted towards existing commercial tenants and vacant residential space above.

HPD offers eligible owners a variety of low-interest loans for moderate to major renovations of vacant or occupied smaller buildings as well as buildings with up to 20 residential units. Only buildings with low and moderate rent levels are eligible for these loans. Real estate tax benefits may be available to borrowers.  Sometimes, these low-interest funds are combined with financing from a lending institution to provide a low-cost loan tailored to the owner's needs. Depending on the loan, borrowers may be required to make cash payment toward the project's total cost as equity. The loan may cover limited acquisition or refinancing costs, but only if most of the loan is reserved for rehabilitation costs.

Advantages are: rehabilitation adds to building’s value, below market interest rates, loan term of up to 30 years, assistance in selecting/securing contractors and working with tenants as well as free classes in property management.

Eligible Properties are: owner occupied buildings with 1-4 units or buildings with existing commercial tenants and 1-20 vacant residential units, including “taxpayer” buildings, and all taxes must be current at the time of closing.