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Evaluation of Commercial Revitalization and Commercial Expansion Tax Expenditure Programs Prepared for New York City Council Finance Committee Pursuant to Local Law 18 NYC Independent Budget Office
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Commercial revitalization is the process of improving and renovating commercial properties to attract more businesses and customers. Commercial is related to or engaged in commerce or trade.
Property owners or businesses involved in commercial activities are usually required to file commercial revitalization reports.
Commercial revitalization reports are typically filled out online or through paper forms provided by the local government or relevant authorities.
The purpose of commercial revitalization is to improve the economic viability and attractiveness of commercial areas, while commercial activities aim to generate profit through trade or commerce.
Information such as property details, renovation plans, business activities, and projected economic impact may need to be reported on commercial revitalization forms.
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