Manhattan Community Boards Consider Tax Credits for Theatre Landlords

Stage Directions: "On January 21, members of arts, cultural and theatre tasks forces from Manhattan Community Boards (CB) gathered at Manhattan Borough President Scott Stringer’s office to present a proposal to help financially pressed Off-Off-Broadway theatres. The proposal seeks to “incentivize landlords to offer lower leases at below market rates to a core set of venues” through the implementation of a real estate tax credit. In short, the proposal asks the city to offer tax credit money to landlords of theatres in order to subsidize their lessened income in return for offering lower rental rates to theatres."