Concession
NYC Charter provisions state that no city agency may grant a concession without complying with procedures established by the Franchise and Concession Review Committee or obtaining committee approval. The Charter defines "major concession" as a concession with significant land use impacts (as determined by CPC) or requiring an EIS by law, and subjects major concessions to review under specified Charter sections.
- Where it applies
- New York City
- When it comes up
- Public approvals; procurement; land-use review (major concessions)
- Property types
- Public-private development; parks and public facilities operations
In practice
Major concessions can behave like land-use actions: they can trigger environmental review and formal land-use review pathways.
Read more in the Knowledge Base
- The Concession ParadoxLandlords
- Rent Concession Structures - Free Months, Reduced Rent, and Net Effective RentLandlords
- Loss-to-Lease, Vacancy Loss, and Concession Loss - The Three Revenue Leakage MetricsLandlords
- Concession Control: Credits vs. Price ReductionsSellers
- Demand Elasticity in NYC Rentals: Price Sensitivity and ConcessionLandlords
Related terms
Public Policy and Land Regulation
- County Planning Referral (General Municipal Law §239-m)
- Franchise
- Landmark Designation Criteria
- Landmark Designation Process
- Request for Proposals (RFP)
- Request for Qualifications (RFQ)
- Revocable Consent
- Vault
General information, not legal, tax or financial advice.