ESD - FOIL Response

NYS Consolidated Funding Application
Application Number 38759

Registration Email: tcomerford@sugarloafassociates.com
File created September 17, 2014 - 10:57 AM
Application finalized on September 17, 2014 - 10:56 AM
Region
New York City
Questionnaire Questions & Answers

Threshold
Excelsior Jobs Program
Q_41
Does this project predominantly involve any of the following activities at the project location: (1) scientific research and development that will create at least 5
net new jobs in NYS; (2) software development that will create at least 5 net new jobs in NYS; (3) agricultural production or agricultural support (e.g. soil
preparation, planting, harvesting and management, on a contract or fee basis) that will create at least 5 net new jobs in NYS; (4) manufacturing that will create at least
10 net new jobs in NYS; (5) financial services data center or financial services customer back office operations that will create at least 50 net new jobs in NYS; (6) a
back office operation that includes customer service, information technology and data processing, human resources, accounting and related administrative functions
and will create at least 50 net new jobs in NYS; (7) a distribution center involving processing, repackaging, and/or movement of finished or semi-finished goods to retail
locations across a multi-state area that will create at least 75 net new jobs in NYS; (8) the creation of at least 300 net new jobs in NYS and the investment of at least
$6 million at the project locations; (9) categories 1, 2, 3, 5, 6 & 7 above retaining at least 25 persons in NYS and category 4, manufacturing, that retains at least 10
personshttp://esd.ny.gov/BusinessPrograms/Data/Excelsior/050211_ExcelsiorStatuatoryProvisions.pdf
in NYS
Yes
Q_1856
Are you a not-for-profit, municipality or public benefit corporation?

No
NYSERDA Energy Efficiency Projects

Q_999
Will/Does your project/facility incorporate energy efficiency measures or need assistance with energy modeling/energy audit? Note: By answering yes to this
question, you are applying to NYSERDA's New Construction, Existing Facilities, FlexTech, or Industrial and Process Efficiency Programs. LIPA, NYPA, and
Municipal Utility customers please view help.
Yes
Recharge New York

Q_2543
If you are applying for an allocation of ReCharge New York ("RNY") power for your Facility, select Yes below. Subject to other program requirements, RNY
Power allocations may be awarded for the purpose of supporting (1) the retention of an existing organization and jobs in the State (a retention allocation),
or (2) a new business or the expansion of an existing business in the State (an expansion allocation), Please indicate in the General Information and Background
section the nature of the allocation being requested (retention or expansion). Please note that the governing law provides that eligible applicant does not include retail
businesses, including, without limitation, sports venues, gaming or entertainment-related establishments or places of overnight accommodation. The applicable
definition of retail business may be found at www.nypa.gov/RechargeNY/default.htm.
Yes
Location
Q_184
NYS Assembly District(s) where the project is located. (please enter a number between 1 and 150 that represents your Assembly District)
65
Q_190
NY Senate District(s) where the project is located. (please enter a number between 1 and 63 that represents your Senate District)
26
Q_565
Project City
New York
Q_568
Project State
New York
Q_572
Project Latitude
40.711425
Q_573
NYS CFA - Application Number 38759

Page 1 of 17
Q_573
Project Longitude
-74.015403
Q_928
Project Street Address: if the project does not have a definite street address, please skip to "Project without a Street Address" below.
255 Liberty
Q_971
Project Without a Street Address: please enter a description of the project location. Include project starting/ending street addresses, cities & zip codes if
applicable.
NA
Q_972
Project county or counties.

Manhattan
Q_1034
Project ZIP Code. (please use ZIP+4 if known)

10281
Q_3527
US Congressional District where the project is located.

10th
Basic
General Project Information
Q_550
If you are a DBA, what is your DBA name?

Time, Inc.
Q_549
Type of Applicant (select all that apply)

C Corporation
Q_556
Select an applicant ID type from the list below that you normally use to identify your organization on application forms.
Federal Tax ID Number
Q_969
If you are a business, have you been certified as a New York State Minority or Women-owned Business Enterprise (MWBE)?
No
Applicant
Answer
Legal Name
Street Address
City
State
Zip Code (use ZIP+4 if known)
Email Address
Time Inc
1271 Avenue of the Americas
New York
NY
10020
tcomerford@blsstrategies.com

Page 2 of 17
973-903-6685
Telephone Number (include area code)
Contacts
Primary Contact
Additional Contact
First Name
Tim
No Answer
Last Name
Comerford
No Answer
Senior Vice President
No Answer
47 Hulfish Street
No Answer
Princeton
No Answer
NJ
No Answer
08542
No Answer
tcomerford@blsstrategiew.com
No Answer
973-903-6685
9739036685
Title
Street Address
City
State
ZIP Code
Email Address
Telephone Number
Q_3656
Is the project included in a NY Rising Community Reconstruction Program plan or a NY Rising Countywide Resiliency Plan?
No
Q_3744
If the project is included in a NY Rising Community Reconstruction Program plan or a NY Rising Countywide Resiliency Plan, please indicate the planning
committee name, project name, and location.
NA
Q_3762
Does your project directly address the needs of people in your region who are living in poverty and who seek resources for inclusion in the economic life of
New York State?
No
Q_3763
How does your project seek to apply CFA funds for the purpose of eliminating barriers to skilled employment by poor people in your region, as identified by
the Opportunity Agenda? Please describe any efforts to collaborate at the local or regional level (i.e. public, private, labor, philanthropic sectors).
NA
Q_3764
How does your project build workforce development programs, improve physical infrastructure, and/or establish social services that connect people living in
poverty in your region with skilled employment, in correspondence with the economic revitalization priorities, distressed community targets, and the industry
growth areas identified in the Opportunity Agenda and Strategic Plan?
NA
Q_3766
Is this a Global NY Project?

No
Q_3768
If this is a Global NY Project, please describe how this project relates to the identified goals of your regions Global Marketing and Export Strategies as part
of the Global NY initiative?
NA

Page 3 of 17
Project Description
Q_575
Project Description. Concisely describe the project, indicating the location, what will be planned, designed, acquired, and/or constructed, the
issues/opportunities to be addressed, and expected outcomes and deliverables. Additional details will be collected later in the application process.
Time is embarking on an historic corporate spin-off from its long-standing parent to resently become an independent publicly-traded company. This
transaction consists of multi-faceted initiatives, including broad-based process improvements designed to reduce costs and to retain and attract the
highest-quality talent. These initiatives are being followed soon after by a restructuring of the Companys office occupancy in the New York metro area, for
which the evaluation and planning process has been underway, leading to important location decisions that will materially impact the Companys cost
structure and workplace.
Q_930
Explain what makes your project a regional economic priority - for example creates jobs, economic investment, sustainability and community revitalization,
government efficiency or consolidation etc.
See Above Q575
Q_2366
How does your project align with the Regional Economic Development Councils Strategic Plan? (strategic plans are located at
http://www.nyscfaprojectdata.ny.gov/ )
See Q 575
Q_929
Current State of Project Development (i.e. planning, preliminary engineering, final design, etc. You may enter N/A for non-project related applications)
Planning & Preliminary Engineering
Q_975
Q_976
Estimated Project Timeline: including project start/completion dates, estimates for design, permitting and construction or other major steps. (You may enter
N/A for non-Project related applications)
Statement of Need
See Q575
Q_580
Provide a list of all federal, state, and local reviews, approvals, or permits needed or completed, including the dates when they are expected to be completed
or were completed. If Not Applicable, indicate "NA".
NA
Q_2364
What is the status of State and/or Federal Environmental Review? If review of the project is underway or completed pursuant to the State Environmental
Quality Review Act (SEQRA) or National Environmental Policy Act (NEPA), please indicate the lead agency (if applicable).
NA
Prior CFA Funding

Q_2362
If funding was awarded in prior CFA rounds, what were the CFA numbers for which funding was awarded? (separate multiple CFA numbers with commas)
NA
Standard Question
Q_1339
Applicant website
http://www.TimeInc.com
Q_740
Q_595
What is the applicant's Federal Tax ID#?
Indicate the principal North American Industrial Classification System (NAICS) Code at the project location.
511120
Q_1142
Indicate the Primary North American Industrial Classification System (NAICS) Code at the PROJECT LOCATION.
511120
Q_1075
Describe the ownership of the applicants business including, if applicable, the names of principal owners:
An independent publicly-traded company

Page 4 of 17
Q_1076
Identify the applicants parent and subsidiary companies (if none, please respond with N/A):
NA
Q_900
Electric Utility Company Name

Consolidated Edison
Q_902
Natural Gas Utility Company Name

Consolidated Edison
Q_2221
Is the applicant an Empire Zone certified entity? If so, please provide the Empire Zone address location.
No
Q_3134
Is a third party being used to complete this application such as consultant, accountant or attorney?
Yes
Q_3136
If you are a third party completing this application you must disclose your name, company and contact information.
Timothy Comerford, Biggins Lacy Shapiro & Co., 973-903-6685; tcomerford@blsstrategies.com
Q_1409
What is the first project year? (e.g. the year equipment will be ordered or when first expenditures are expected to be made)
2014
Q_1410
Briefly describe what the project involves in terms of product(s) or services(s) that will be provided at the project location.
Design and construction of office space
Q_1224
Have any expenditures for the project been made prior to the date of this application? If yes, explain. http://esd.ny.gov/businessprograms/EIP.html
No
Project Costs by Year: Please enter the annual anticipated Project Costs based on the year that the investment will be made. These Project Costs should match
the information in the Program Budget section.
Qualified Investments
Year 1
Year 2
Year 3
Year 4
Year 5
Building Acquisition
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
Building Renovation
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
New Construction
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
Production Machinery & Equipment
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
Furniture, fixtures & equipment
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
Land Acquisition *
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer

Page 5 of 17
Demolition & environmental

remediation *
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
Soft costs up to 25% *
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
Total
Job Creation and Retention Questions: The following questions are for committed, direct jobs only. Note that if awarded funding, Applicant must document
existing and new jobs via submission of NY-45 forms. Questions about other jobs, such as Indirect Jobs and Construction Jobs, follow this section.
Q_2195
Indicate how many existing full-time equivalent jobs the applicant employs in all NYS LOCATIONS.
2917
Q_2199
Q_1365
Indicate the average annual wage for existing full-time equivalent employees the applicant employs in all NYS Locations as of the date this application is
finalized.
Indicate how many of the total existing full-time equivalent employees in New York State are contract employees.
All PROJECT Locations

Q_2196
Indicate how many existing full-time equivalent jobs the applicant employs at all PROJECT LOCATION(S).
2917
Q_1186
Q_1366
Q_1196
Indicate the average annual wage for the employees at the Project Location as of the date this application is finalized.
Indicate how many of the total existing full-time equivalent employees at the Project Location are contract employees.
How many of the existing jobs at the project location(s) are at risk if the project does not go forward.
2917
Q_1375
What percentage of the project's employees are residents of NYS?
NET NEW JOBS (DIRECT JOBS ONLY)

Q_3523
In the Table below, please indicate how many new full-time equivalent employees the company will create by general category/job type. Definition of full-time
equivalent employee: (1) a full-time, permanent, private-sector employee on the Recipient's payroll, who has worked at the Project Location for a minimum of
35 hours per week for not less than four consecutive weeks and who is entitled to receive the usual and customary fringe benefits extended by Recipient to other
employees with comparable rank and duties; or (ii) two part-time, permanent, private-sector employees on Recipient's payroll, who have worked at the Project
Location for a combined minimum of 35 hours per week for not less than four consecutive weeks and who are entitled to receive the usual and customary fringe
benefits extended by Recipient to other employees with comparable rank and duties. For the Excelsior Jobs Program: a full-time permanent employee must be on the
payroll for at least six months of a year in order to qualify for benefits. Jobs transferred from employment with another business located in the State including from a
related person in this State are not net new jobs for purposes of the employment commitment. Indicate the year employment begins under Year 1 here:
Net New Job Information (Enter Cumulatively)

Job Type/Category
Avg Gross Wages/Job

Type
Year 1 - # Net New

Jobs
Year 2 - # Net New

Jobs
Year 3 - # Net New

Jobs
Year 4 - # Net New

Jobs
Year 5 - # Net New

Jobs
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer

Page 6 of 17
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
No
Answer
Total
Q_1415
Q_2372
Indicate what the average percentage is of the applicants' total employees' gross wages paid in benefits (exclude mandated benefits such as Federal
Insurance Contributions Act (FICA), Medicare tax, unemployment insurance or workers' compensation insurance.
Will the proposed project result in the creation of construction jobs? If so, estimate the number of construction jobs to be created.
Enter zero if not applicable.

0
RESEARCH & DEVELOPMENT

Q_3525
Do you conduct, or plan to conduct, research & development activities at this project location? Indicate Y/N. If "Y", please describe.
http://www.taxalmanac.org/index.php/Internal_Revenue_Code:Sec._41._Credit_for_increasing_research_activities
N
Research & Development

Year 1
R&D Expenditures in NYS
Year 2
No Answer
No Answer
Year 3
No Answer
Year 4
No Answer
Year 5
No Answer
REAL PROPERTY
Q_3526
Q_1368
Q_1367
Estimate the future annual real property taxes or annual PILOT payments based on the investments in the property. What are the annual savings on real
property taxes resulting from a PILOT agreement based on the investments in the property?
Please indicate the current annual real property taxes or PILOT payments.
Does, or will, the applicant own the property(ies) or have a lease specifying that it will pay the property taxes to the taxing jurisdiction for this project
location(s)?
No
Agreements - For Applicants To the Excelsior Jobs Program

Q_1872
Pursuant to section 354(2) of the New York State economic development law: As the preparer of this application, I attest to being an authorized
representative of the applicant and, by placing my name in the box below, I hereby: 1. Agree to allow the Department of Taxation and Finance to share tax
information with the Department of Economic Development. However, any information shared as a result of this agreement shall not be available for disclosure or
inspection under the State Freedom of Information law; 2. Agree to allow the Department of Labor to share tax and employer information with the Department of
Economic Development. However, any information shared as a result of this agreement shall not be available for disclosure or inspection under the State Freedom of
Information Law; 3. Agree to disqualify for empire zone benefits at any location or locations that qualify for Excelsior Jobs Program benefits if admitted into the excelsior
jobs program; 4. Allow the Department and its agents access to any and all books and records the Department of Economic Development may require to monitor
compliance; 5. Provide to the Department of Economic Development, upon its request, the information outlined in Section 354 (e) of Article 17 of the Economic
Development Law; 6. Provide a clear and detailed presentation of all related persons as defined in subparagraph (c) of paragraph 3 of subsection (b) of section 465 of
the Internal Revenue Code to the applicant to assure the Department of Economic Development that the jobs indicated in this application are not being shifted within
the State; 7.Certify, under penalty of perjury, that the applicant is in substantial compliance with all environmental, worker protection, and local, state and federal tax laws.
http://esd.ny.gov/BusinessPrograms/Data/Excelsior/050211_ExcelsiorStatuatoryProvisions.pdf
Timothy Comerford

NYSERDA Program Questions
Q_1292
Will/Does the project or facility location pay into the System Benefits Charge (SBC)? LIPA, NYPA, and Municipal Utility customers click on help for more

Page 7 of 17
information on SBC.
Yes
Q_1905
If submitting on behalf of, please provide contact email address

tcomerford@blsstrategies.com
Q_1143
Is the proposed project for a small business or not-for-profit with an average electric demand under 100 kW?
No
Q_1144
If you are a small business or not-for-profit with an average electric demand under 100 kW, are you looking to receive a free energy audit through Green
Jobs-Green NY?
No
Q_966
What is the Project Category/Project Type?

New Construction - New Construction Program
Q_922
If you selected New Construction or Substantial Renovation in the previous question, please identify the construction type
New Building
Q_899
Does the proposed project have planned electric or natural gas efficiency measures?
Electric and Natural Gas
Q_898
Have project measures, equipment, or scope of work been identified?

Yes
Q_1137
Have the measures already been installed?

No
Q_923
Please identify the desired assistance. Please view the help section for definitions of assistance.
Energy Study/Audit/Master Plan,Whole Building Design - New Construction
Q_913
Facility/Building Use
Commercial Real Estate
Q_911
Facility/Building Size (sq. ft.)

695000
Q_914
Project Status
Construction Documents
Q_1138
Please describe your project timeline.

Construction 2015, occupancy 2016
Q_912
Q_921
Estimated Construction Cost/Project Cost/Study Cost ($)
Please indicate the status of ownership

Qualified Tenant/Leaseholder
Q_1010
If submitting a CFA on Behalf of Please enter your company name

Biggins Lacy Shapiro & Co.
Q_1011
If submitting a CFA on Behalf of Please enter your last name

Comerford
Q_1012
If submitting a CFA on Behalf of Please enter your first name

Page 8 of 17
Timothhy
Q_967
If submitting a CFA on Behalf of Please enter your title

Senior VP
Q_1139
If known, please enter the estimated annual kW savings that will be generated through the project.
0
Q_1141
If known, please enter the estimated annual kWh savings that will be generated through the project.
0
Q_1140
If known, please enter the estimated annual MMBtu savings that will be generated through the project.
0
Q_926
Please identify how you were referred

NYSERDA CBO
Q_927
Please identify the source of your referral based on your answer to the previous question (Ex. If you were referred by the Regional Economic Development
Councils please identify which region) View help for more options
From prior projects
NYSERDA does not require applicants to submit answers to the Funding Sources, Expenditure Activities, and Budget Categories sections found later in the
CFA. If that information is available it will be helpful, otherwise please leave 0.00 for those questions in the application and continue. Other programs within the
CFA may require the applicant to provide this information. Please refer to the individual agency guidelines when filling out these sections.
Q_920
I understand that NYSERDA may require additional project information. (W9, Current Utility Bill, Equipment Specification Sheets, etc.)
Yes
Recharge New York

ReCharge New York Power Program: General Information and Background
As you complete the portion of Consolidated Funding Application that is specific to the Recharge New York Power Program, you will notice that some
questions are designated as Restricted Questions. The dissemination of information provided in response to Restricted Questions is intended to be limited
to the Economic Development Power Allocation Board, NYPAs Board of Trustees, and NYPA staff. If you need to disclose information you believe should be
treated as confidential, please do so only in response to Restricted Questions. Also, please identify in the Other Information section of the CFA all responses
to Restricted Questions that you believe contain confidential information. Once in NYPAs possession, this information will be accorded the protections to
which it is entitled under New York law, including Public Officers Law Article 6 (Freedom of Information Law).
Q_2549
For this question select one choice, the FACILITY is applying for a power allocation to:
Support the retention of an existing business or Not-for-profit organization and jobs in New York State
Q_2581
Provide a brief description and/or history of applicants business both generally and at the FACILITY*:
Ink is embarking on an historic corporate spin-off from its long-standing parent to become an independent publicly-traded company by mid-2014. This
transaction consists of multi-faceted initiatives, including broad-based process improvements designed to reduce costs and to retain and attract the
highest-quality talent. These initiatives are being followed soon after by a restructuring of the Companys office occupancy in the New York metro area, for
which the evaluation and planning process has been underway, leading to important location decisions that will materially impact the Companys cost
structure and workplace. In connection with its long-term plans, Ink will institute forward-looking workplace strategies to reduce cost and enhance
productivity, collaboration and recruitment. The Companys existing lease expires at the end of 2017 and it will require a significantly smaller footprint going
forward. Specifically, the Company will reduce its footprint from approximately 1.5 million square feet to a projected requirement of approximately 695,000
square feet
Q_735
Describe the product(s) produced and/or service(s) provided at the FACILITY:

Publishing & Digital Media
Q_736
Using the North American Industry Classification System, please provide the six digit NAICS code that applies to the FACILITY:
511120
Not-for-Profit (if your company is For-Profit select "No" or respond N/A)

Q_2550
Is the applicant a Not-for-Profit Corporation within the meaning of New York Not-for-Profit Corporation Law (N-PCL) 102(a)(5)?
No
Q_1769
If the answer to the question above is yes, identify the type of corporation (e.g., Type A, B, C, or D as provided for in Not-for-Profit Corporation Law 201), if
known.
Section 303 of th Business Corporation Law

Page 9 of 17
Q_1770
If the answer to this question is no, identify the specific section of New York State law under which the applicant is incorporated and exists, if known.
NA
Q_1771
Identify the date on which the applicant incorporated.

2014-06-30
Q_737
Does your Not-for-Profit FACILITY provide critical services or substantial benefits to the local community?
No
Q_738
If you selected yes from the question above, please describe:

No Answer
Existing Electric Service

Q_741
How many years has the FACILITY been in operation?

0
Q_2551
Is the FACILITY owned, or leased in whole or in part, by the Applicant?

Leased in part
Q_2552
If FACILITY is leased in whole or in part by the Applicant, is the electric utility account in the name of the Applicant?
No
Q_2557
Please provide the FACILITY's electric service account number. If the FACILITY has more than one account provide all account numbers below separated
by commas.
To Be Provided
Q_2553
Q_2554
Q_3462
What is the typical metered demand (kW) at the FACILITY? (Please view the help link for information on how to respond for a facility with multiple electric
accounts)
What is the typical monthly energy consumption (kWh) at the FACILITY? (Please view the help link for information on how to respond for a facility with
multiple electric accounts)
Select the utility providing current delivery service at the FACILITY:

Con Edison Company of New York
Q_756
Does this FACILITY use an Energy Service Company (ESCO) for its electricity supply?
No
Q_2556
Does the FACILITY currently receive NYPA hydropower (e.g., ReCharge New York Power, Expansion Power, Replacement Power, Preservation Power,
NYPA hydropower allocated through a Municipal Electric District/Rural Electric Cooperative), or any benefits that derive from the sale of NYPA hydropower
(e.g., Industrial Incentive Awards, power proceeds grants)?
No
Energy Efficiency Measures

Q_809
Has the FACILITY undergone an energy audit and/or a detailed feasibility study within the past 5 years?
Yes
Q_810
If yes, please indicate type and year in which the audit/ feasibility study was performed.
2014
Q_1082
If yes to previous question, will the applicant agree to provide NYPA with copies of any such audit/ feasibility study if requested?
Yes
Q_811
Has the FACILITY had any measures implemented to reduce energy consumption (electricity, gas, oil, etc.) within the last 3 years?

Page 10 of 17
No
Q_812
If yes, select the measures that were implemented:

Other
Q_815
If Other, please describe:

NA
Q_1083
If any measures above have been implemented at the FACILITY, please provide a brief description.
NA
Q_813
Does the applicant plan to implement any measures to reduce energy consumption (electricity, gas, oil, etc.) within the next 3 years at the FACILITY?
Yes
Q_814
Q_816
If yes, select the measures the FACILITY plans to implement:
If Other, please describe:

NA
Q_1084
If the applicant plans to implement any measures above at the FACILITY within the next 3 years, please provide a brief description.
NA
Q_818
If the FACILITY were to receive a ReCharge New York power allocation, will the applicant agree to undertake an ASHRAE Level II energy audit at the
FACILITY in which the allocation is consumed, at least once during the term of the allocation, at the Applicants own expense?
Yes
Q_819
If the FACILITY were to receive a ReCharge New York power allocation, will the applicant agree to make the FACILITY available at reasonable times for
energy audits and assessments if required by NYPA?
Yes
Q_1085
If the FACILITY were to receive a ReCharge New York power allocation, is the applicant willing to implement audit-identified energy efficiency measures
during the term of the allocation?
Yes
Q_820
If the FACILITY were to receive a ReCharge New York power allocation, will the applicant agree to provide information requested by NYPA or its designee in
surveys, questionnaires and other information requests relating to energy efficiency and energy-related projects, programs and services?
Yes
Q_821
Is the applicant familiar with Demand Response?

No
Q_822
If the FACILITY were to receive a ReCharge New York power allocation, would the applicant be interested in learning more about NYPAs demand response
programs?
Yes
ReCharge New York Retention Allocation Request

Q_2558
How much ReCharge New York power (in kW) is the applicant requesting for the FACILITY to help maintain operations and/or retain existing employment?
(Do not include electric demand (kW) associated with a proposed expansion of your business, if any. If the applicant is applying for an allocation to support a
new business, answer this question with the number 0.)
Q_2559
How would a ReCharge New York allocation affect (1) the applicants competitive position generally and (2) the applicants operations at the FACILITY?
Public sector financial assistance is a final and critical component of Inks location decision. Discussions with NJ over potential Jersey City relocations have
already begun and the State has offered a significant incentives package to further improve the Jersey City economics over the first ten years of the
Companys relocation. We are now seeking to bring New York scenarios into synch with the Companys relocation decision timing.
Q_2560
For existing businesses describe the anticipated impact a ReCharge New York Power allocation would have on current employment at the FACILITY:

Page 11 of 17
Q_2564
How many major competitors in the line of business conducted at this FACILITY are located in New York State?
None
Q_827
List the name and city of the FACILITY's major NYS competitor(s), if noted above:
NA
Q_828
List any other major domestic or foreign competitors (not in New York State):
NA
Q_829
List names and locations of major suppliers to the FACILITY:

NA
Q_830
List names and locations of major customers of the FACILITY:

NA
Q_831
Q_832
Q_3464
Q_2561
What percentage of the FACILITYs purchases of goods and services are made within New York State?
What percentage of the FACILITYs output is sold to customers within New York State?
What is the cost of electricity as a percentage of the cost of production at the FACILITY?
Is the FACILITY currently at risk of closing or curtailing operations, relocating out of state, or losing a significant number of jobs, due to the current cost of
electricity to the applicant? (For new businesses, answer No.)
Yes
Q_835
If yes, please describe why the operations or employment levels are at risk.
See Q 2560
Q_1086
Will a ReCharge New York power allocation mitigate any of the risks identified in the previous question?
Yes
Q_1087
If yes, please describe how any such risk will be mitigated.

Public sector financial assistance is critical component of Inks location decision
Q_1103
Identify any other facilities of your organization located in New York State. Give location, products manufactured and/or services offered, and number of
permanent employees.
NA
Q_1104
Please describe how the facilities listed above interact with the FACILITY you are requesting power for and how the operations and employment may be
affected as a result of receiving a ReCharge New York power allocation.
No Answer
Employment and Payroll (If applicant is a new FACILITY, enter the number 0 in all applicable questions in this section)
Q_2563
Q_1105
What is the FACILITY's current employment in Full Time Equivalents (FTE)?
How many of the Full Time Equivalents listed above are comprised of part time employees?

Page 12 of 17
Q_2582
Q_837
Q_838
Q_839
How many jobs would the applicant be willing to contractually commit to retain at the FACILITY as a condition to receiving a ReCharge New York power
allocation? (if applicant is a new FACILITY, enter the number "0".)
What is the average annual wage for the employees listed above?
What are the average annual employee benefits in dollars?
What is the total payroll including benefits (in dollars) at the facility?
Capital Investment (If applicant is a new FACILITY only answer the first question, enter the number 0 for all other questions in this section, and complete the
section below entitled New Facility or Existing Facility Expansion Plans.)
Q_2565
Q_2586
Q_854
Q_855
Q_2588
Please provide the total capitalization of the FACILITY in dollars (for new businesses: provide the FACILITYs projected capitalization):
What is the capital investment amount planned at the FACILITY over the next 5 years?
Please describe the capital investments included in the amount above:
What amount of the total 5 year capital investment pertains to bricks and mortar investment?
Of the total 5 year capital investment dollars listed above, how much would the applicant be willing to contractually commit to invest at the FACILITY as a
condition to receiving a ReCharge New York power allocation?
New Facility or Existing Facility Expansion Plans (businesses only)

Q_2566
Is the applicant requesting an allocation to support either an expansion to an existing FACILITY or a new FACILITY? (If yes, complete the questions in this
section.)
No
Q_2567
Please describe the FACILITY expansion project or new FACILITY:

See Q575
Q_2568
Please describe the business reason(s) for expansion or new FACILITY:

See Q575
Q_2569
Q_2570
Q_2571
Q_861
Q_862
What is the net additional electric peak demand (kW) expected to register on the meter as a result of the specific expansion project or new FACILITY, if any?
(Do not include electric demand (kW) already registering on the meter at the FACILITY.)
How much ReCharge New York power (in kW) is the applicant requesting for the expansion project or new FACILITY?
What is the additional monthly energy usage (kWh) expected as a result of this expansion project or new FACILITY?
What is the anticipated project start date (Month, Year)?
What is the anticipated project completion date (Month, Year)?

Page 13 of 17
Q_2572
Please describe the phases of the expansion project or new FACILITY, if any:
NA
Q_2573
Q_2574
Q_3466
Q_867
Q_2576
Q_2580
Q_2577
Q_2578
Q_2579
Q_2589
Please describe any major machinery & equipment, systems or components that will be part of the expansion project or new FACILITY:
What is the total project cost estimate for this facility expansion or new FACILITY?
For existing FACILITIES only, of this Total Project Cost Estimate, how much, if any, is included in the response to question Q_2588 in the Capital Investment
Section above?
How much of the Total Project Cost Estimate is related to bricks and mortar investment?
Please provide the total number of NEW jobs that will be created as a result of the expansion project or new FACILITY, if any. (For an expansion of an
existing facility, any new jobs must be above current employment level of the existing facility):
Of the total new jobs created for the expansion project or new FACILITY, how many new jobs would your company be willing to contractually commit to in
return for a ReCharge New York allocation?
What will the average annual wages be for the NEW employees listed above?
What will the average annual benefits in dollars be for the NEW employees listed above?
What would the total payroll including benefits (in dollars) be for NEW employees listed above?
Please provide the anticipated time frame (month and year) that the NEW employees listed above will be hired (If none respond with N/A).
Other Information
Q_875
Please identify all financial or other support the applicant receives, will receive, or has requested, if any, from the State of New York or State agency or entity
regarding the FACILITY.
$8,000,000 from Empire State Development - Excelsior Program; $5.4 million in Lower Manhattan Sales Tax Exemption and $6.4 million in Lower Manhattan
Commercial Rent Tax Exemption
Q_876
Any additional information you may wish to include (suggestions include, but are not limited to, long term investment plans, capital investment history and
company's growth potential):
NA
Q_877
List any questions contained in this application for which the applicant considers its responses to be confidential (list question number(s) separated by
commas):
NA
Q_1088
Describe the basis for confidential treatment of the information identified in response to the previous question:
NA
Certification
Q_1038

Page 14 of 17
Q_1038
By entering your name in the box below, you certify that you are authorized on behalf of the applicant and its governing body to submit this application. You
further certify that all of the information contained in this Application and in all statements, data and supporting documents which have been made or
furnished for the purpose of receiving Assistance for the project described in this application, are true, correct and complete to the best of your knowledge and belief.
You acknowledge that offering a written instrument knowing that the written instrument contains a false statement or false information, with the intent to defraud the
State or any political subdivision, public authority or public benefit corporation of the State, with the knowledge or belief that it will be filed with or recorded by the State
or any political subdivision, public authority or public benefit corporation of the State, constitutes a crime under New York State Law.
Timothy Comerford
Recharge New York

General Certifications
Q_1037
By entering your name in the box below, you certify and agree that you are authorized on behalf of the applicant and its governing body to commit the
applicant to comply with the requirements of Article 15-A of the New York State Executive Law: Participation By Minority Group Members and Women With
Respect To State Contracts by providing opportunities for Minority-owned Business Enterprise (MBE)/Woman-owned Business Enterprise (WBE) participation. You
further certify that the applicant will maintain such records and take such actions necessary to demonstrate such compliance throughout the completion of the project.
Timothy Comerford
Recharge New York Power Program Certifications (for applicants requesting a ReCharge New York power allocation only, the following certification is the last
question to be answered. The "Funding Sources", "Expenditure Activities", and "Budget Categories" sections below are not applicable)
Q_1077
I certify that (a) I am authorized to act on behalf of the applicant for a Recharge New York power allocation, and (b) all information provided in this
application, including any attachments, is true, accurate and correct to the best of my knowledge and the knowledge of the applicant. On behalf of the
applicant, I further understand and acknowledge that: (a) the applicant may be required to provide additional information upon request by the Economic Development
Power Allocation Board and NYPA before any decision is made on this application; (b) Recharge New York power program allocations are subject to review and
approval by the Economic Development Power Allocation Board and the New York Power Authority Board of Trustees; and (c) and notwithstanding an award of an
allocation of Recharge New York power, such allocation will be subject to the terms and conditions agreeable to NYPA and set forth in a separate written contract
between the applicant and NYPA governing the provision and sale of the power that is the subject of the allocation.
Yes
Workforce
I. Assessment of Skilled Worker Shortfall
Assessment of Skilled Worker Shortfall

Specific Job Titles and Number of Unfulfilled Openings for Each Job Title
Management
Title: Unspecified Jobs: 0

Title: Unspecified Jobs: 0
Computer and Mathematical
No Answer
Production
No Answer
Community and Social Services
No Answer
Construction and Extraction
No Answer
Life, Physical, and Social Science
No Answer
Healthcare Practitioners and Technical
No Answer
Installation, Maintenance, and Repair
No Answer
Building and Grounds Cleaning and Maintenance
No Answer

Page 15 of 17
Food Preparation and Serving Related
No Answer
Arts, Design, Entertainment, Sports, and Media
No Answer
Protective Service
No Answer
Legal
No Answer
Sales and Related
No Answer
Architecture and Engineering
No Answer
Personal Care and Service
No Answer
Healthcare Support
No Answer
Transportation and Material Moving
No Answer
Farming, Fishing, and Forestry
No Answer
Business and Financial Operations
No Answer
Education, Training, and Library
No Answer
Office and Administrative Support
No Answer
II. Worker Recruitment
Worker Recruitment
A. Recruitment Method
1st Most Common Recruitment Method
2nd Most Common Recruitment Method
3rd Most Common Recruitment Method
1st Other

Page 16 of 17
B. Percentage of Use
2nd Other
3rd Other
Net New Jobs

No job answers necessary due to your associated programs.
Qualified Investments
No investment answers necessary due to your associated programs.
Total Project Cost

Total project cost: $
Funding Requested from Program

Program
Amount Requested
8000000
0 Answer Not Required
Recharge New York
0 Answer Not Required
Total Amount Requested
8000000
Program Budget
Use
Construction/Renovation
Source
Local
Amount
$8000000
Legend
[x] = Expired Program

Page 17 of 17
Indicate Source / Comments

Excelsior
CONFIDENTIAL PROJECT INFORMATION WORKSHEET

Thank you for bringing your project to Empire State Development. We look forward to working with you to
evaluate your project for possible financial assistance. To begin this process, please complete and return the
attached Project Information Worksheet.
Please note the following:
ESD cannot consider assistance for project activities commenced or committed to prior to the funding
recipients written acceptance of an offer of assistance from ESD.
This is NOT a funding application. This information is needed to help ESD evaluate your project for
possible financial assistance. If ESD offers assistance, an Incentive Proposal will be issued and, if
accepted, a separate funding application will be required.
ESD staff may request additional information or clarification, including financial projections.
Definitions:
Full-time Permanent Employee: (i) a full-time, permanent, private-sector employee on the Recipients
payroll, who has worked at the Project Location for a minimum of 35 hours per week for not less than four
consecutive weeks and who is entitled to receive the usual and customary fringe benefits extended by
Recipient to other employees with comparable rank and duties; or (ii) two part-time, permanent, privatesector employees on Recipients payroll, who have worked at the Project Location for a combined minimum of
35 hours per week for not less than four consecutive weeks and who are entitled to receive the usual and
customary fringe benefits extended by Recipient to other employees with comparable rank and duties.
Full-time Contract Employee: a full-time private sector employee (or self-employed person) who is not on the
Recipients payroll but who works exclusively for the Recipient at the project location for a minimum of 35
hours per week for not less than four consecutive weeks, providing services that would otherwise be provided
by a Full-time Permanent Employee. The position held by a Full-time Contract Employee must be a year-round
position.
For the Excelsior Jobs Program: a full-time permanent employee must be on the payroll for at least six months
of a year in order to qualify for benefits. Jobs transferred from employment with another business located in
the State including from a related person in this State are not net new jobs for purposes of the employment
commitment.
Retained Jobs are defined as those at risk of being lost or moved out of state should the Project not proceed.
In the above section, please report only those retained jobs that are truly at risk and the time period over
which these jobs would be lost without ESD assistance.

PROJECT NAME
Project Ink
COMPANY INFORMATION
1.
Legal Name of Applicant:
Time, Inc.
2.
Applicant Address:
1271 Avenue of the Americas
3.
If a DBA, what is DBA name?
N/A
4.
Applicant Contact Name:
Noah Chrismer
5.
Applicant Contact Address:
47 Hulfish Street, Princeton, NJ 08542
6.
Contact Phone Number:
610-348-7328
7.
Type of Business:
Corporation
8.
Publicly Traded:
YES
NO
9.
Privately Held:
YES
NO
Contact Email Address:
nchrismer@BLSstrategies.com
If Privately Held, please provide information for the company and any entity owning 50% or more or which otherwise controls
the applicant, including CPA-audited financial statements for the past three years (balance sheet, income statement and cash
flow statement). If audited statements are more than six months old, please provide internally prepared year-to-date financials
certified by the signature of a company officer. If audited statements are not available, please submit a review or compilation,
together with signed federal and state tax returns, for the past three years. Additional information may be requested.
10.
Is this a start-up company with no operating history?
YES
NO
If a start-up company, please provide personal financial statements from a personal guarantor and a business plan that includes
an explanation of: (1) the product being sold, (2) the current and potential future size of the market, and (3) the applicants
current market share and potential future market share illustrating how increased market share can be achieved. Please
provide bank references for borrowing entity and personal guarantors.
11.
12.
13.
Ownership: Please attach a description of the company's ownership structure, including the % of
ownership for each individual and entity owning 5% or more of the company. Indicate if the
company is a parent, subsidiary and /or affiliate of another company.
Primary North American Industrial Classification System (NAICS) Code of the Company.
Please provide at least the three-digit code, but the six-digit code is preferable
Primary North American Industrial Classification System (NAICS) Code associated with
the activity of the business at the project location.
Please provide at least the three-digit code, but the six-digit code is preferable.
See Time Warner

Inc. 10k
511120, 519130
Print & Online
Periodicals
511120, 519130
Print & Online
Periodicals
14.
Select the applicant ID type that you normally use to identify your organization on applicant forms:
15.
Charity Registration Number

Duns Number
NYS Unemployment Insurance Tax Number
Companys Annual Sales:
16.
What share of the companys product or service is sold within NYS:
Social Security Number

Federal Tax ID Number
approximately
STATEMENT OF NEED
17.
Provide a brief summary of the need for the project in the geographic area proposed, the project's financing needs,
including funding gaps and, where applicable, describe the additional short- and long-term jobs that will be created
through the development of the proposed project.
Please see attached Confidential Project Description.

PROJECT INFORMATION
18.
Project Description: Concisely describe the project, indicating the location, what will be planned, designed and/or
constructed, the issues/opportunities to be addressed and expected outcomes and deliverables.
Please see attached Confidential Project Description.
Please see attached.
19.
Project Address:
21.
Project County:
22.
Project Location Assembly District #*:
Member:
23.
Project Location Senate District #*:
Member:
Manhattan
*ESD Staff will assist with compiling this information.
24.
25.
Type of Project/Activity at this location(s) Choose one:

Agriculture
Back Office Operations & Development
Distribution Center
Financial Services Data Center or Customer Back Office
Manufacturing
Scientific Research & Development (R&D)
Software Development & New Media
Other: Corporate Offices
What is the first project year?
(e.g., the year equipment will be ordered and/or when first expenditures are expected to be made)
TBD
26.
Estimated Project Start Date:
27.
Is the company seeking incentives by other states for this project?
(MM/DD/YY)
Estimated Project Completion Date:
TBD (see
notes in
employment
and capital
investment
schedule)
TBD
(MM/DD/YY)
YES
NO
If yes, which other states? New Jersey
RESEARCH AND DEVELOPMENT (R&D)

28.
Activity: If applicable, briefly describe the R&D currently being conducted/planned at the project location(s).
N/A
29.
R&D Projected Expenditures: In the table below, indicate the incremental increase in expenses that qualify
under the federal research credit for increasing research activities (Internal Revenue Code 41) and are attributed
to activities in NYS. The incremental increase should exceed the base amount calculated as prescribed in IRC 41
and Treasury Regulations 26 CFR 1.41.
Year 1
Year 2
Year 3
Year 4
Year 5
R&D Exp in NYS
$
$
$
$
$
REAL PROPERTY TAXES INFORMATION

30.
Does, or will, the business own the property(ies) or have a lease specifying the business will
pay the property taxes to the taxing jurisdiction for this project location(s)?
YES
31.
Indicate the current annual real property taxes or payment in lieu of taxes (PILOT) payments:
32.
Estimate the future real property taxes or PILOT based on investments in the property
indicated:
NO

EMPLOYMENT INFORMATION
Existing Jobs A full-time equivalent job equals any combination of two or more part-time jobs that, when combined together,
constitute the equivalent of a job of at least 35 hours per week.
33.
34.
Indicate how many existing full-time equivalent jobs the applicant and its
related entities employ in all NYS LOCATIONS and the average annual wage for
these employees as of the date this application is signed. How many existing
jobs at the project location(s) are at risk if the project does not go forward?
Indicate how many existing full-time equivalent jobs the applicant and its
related entities employ at the PROJECT LOCATION(S), the average annual
wage for these employees as of the date this application is signed, and, if any
of these jobs are at risk of being eliminated, how many.
# Jobs in NYS
2,917
# at risk
Avg annual wage
# Jobs in NYS
# at risk
Avg annual wage
* Please see attached jobs schedule for further detail.

Net New Jobs
35.
Indicate in the table below, the number of net new jobs that will be created in NYS and the gross annual wages
for each job type for each year. The net new jobs should be indicated as cumulative.
Year 2
Year 3
Year 4
Year 5
Average Gross Year 1 *
Job Type/Category
Wages
CUMULATIVE
EX: Production line workers
$35,000
25
35
40
56
68
Total Net New Jobs (attach additional sheets if needed)
36.
Indicate what the average percentage is of your total employees gross wages paid in benefits
(exclude mandated benefits such as Federal Insurance Contributions Act (FICA), Medicare tax,
unemployment insurance or workers compensation insurance.
37.
What percentage of the project's employees are residents of NYS?
PROJECT BUDGET
38.
Type of Investment
EX: Machinery & Equipment
Property Acquisition*
Construction/Renovation
Machinery & Equipment
Furniture, fixtures & equipment
Training
Design & Planning
Other (specify)
Total Projected Investments
Total Amount of Project Investment

*Please describe and quantify any real estate leasing costs incurred as part of the project:
WORKSHEET COMPLETION
Name of Company Official Completing Worksheet:
Title:
Date Completed:
Donna Clark
3/18/14
Andrew M. Cuomo, Governor
Bill de Blasio, Mayor
World Trade Center Job Creation and Retention Program

Relocation and Employment Schedule
COMPANY NAME:
Project Ink
Six-digit NAIC Business Activity Code (as found on Federal Income Tax Return):
511120, 519130
Federal Employer Identification Number:
Legal Structure (type of corporation or partnership)
Subsidiary of Time Warner Inc.
Are the Company's securities publicly traded?
Yes
Please list the company's licensing & regulatory authorities:
Please identify principals, beneficial owners and affiliates holing 10% or more of
the Company's voting interest or ownership interest.
Primary Contact:
N/A
Noah Chrismer
(please print name & title)
609-613-4264;
Tel: 610-348-7328
Fax:
Email:
nchrismer@BLSstrategies.com
Secondary Contact:
(please print name & title)
Tel:
A.
Fax:
Email:
Current Business Operations

Address by Location Category
Square Footage
# of Full-time Permanent
Employees
I. South of Canal Street, New York City

1)
2)
_________________
3)
Total:
II. North of Canal Street including all Five Boroughs of NYC
1,300,000
1271 Avenue of the Americas & 135 W 50th Street

1120 Avenue of the Americas AMEX Publishing via acquisition)
33,000
205 Hudson Street (photo studio & test kitchen)
9,000
Total:
2,917
III. New York State, Outside the Five Boroughs of NYC

1)
2)
Total:
IV. Outside New York State
Indicate total employment & major locations (not addresses)
1) United States
2) Outside U.S. (non-U.S. companies: Identify HQ location)
Total:
Grand Totals:
revised 4/2/09
N/A
N/A
B.
Proposed Business Operations (if project moves ahead in Lower Manhattan)

Address by Location Category
Square Footage
# of Full-time Permanent
Employees
I. South of Canal Street, New York City
576000 *
TBD
* Requirement will also include approximately 38,000+ SF of
storage space in addition to the 576,000 SF requirement.
_________________
3)
Total:
II. North of Canal Street including all Five Boroughs of NYC
1)
2)
_________________
3)
Total:
III. New York State, Outside the Five Boroughs of NYC
1)
2)
_________________
3)
Total:
IV. Outside New York State
Indicate total employment & major locations (not addresses)
1) United States
2) Outside U.S. (non-U.S. companies: Identify HQ location)
N/A
N/A
_________________
Total:
Grand Totals:
576,000
C. Alternative Locations Under Consideration

List the locations (city, state) that the company is considering besides Lower Manhattan:
Jersey City, New Jersey
Midtown Manhattan
D. Summary of NYC Employment Plans (if project moves ahead in Lower Manhattan)
Creation of New Jobs in Lower Manhattan
(jobs that do not exist yet in New York City)
Retention of Existing Jobs in Lower

Manhattan.
Retention of Existing Jobs in New York City
outside of Lower Manhattan.
Relocation of New York City Jobs to Lower
Manhattan.
Total New York City Jobs:
E. Salary Data for Employment in Section D.

(salary = total taxable compensation including liquid securities, exclusive of benefits)
Total Compensation Exclusive of Benefits

Total Number of Full-time Permanent Employees
Average Compensation per Full-time Permanent Employee
Percentage of Employees in Section D. that are NY City Residents

Percentage of Employees in Section D. that are NY State Residents
revised 4/2/09
F. Salary Data for Employment in Section D (continued).

Information Below Required by H.U.D. (not used to determine benefit)
Location Category Less than $31,400 to $50,250
Over $50,250
$31,400
Total # of Full-time Permanent

Employees
NY City, South of Canal

Street (section D. above)
NY City North of Canal
Street including the five
boroughs (section D.
above)
TOTAL
* Salary band information is for current employment; information is not available for project employment.
G. Regulatory Status
Please indicate whether the company is under investigation by a regulatory or governmental entity other than a
routine review. If yes, please describe below.
Donna Clark
Name (please print)
Signature

Title (please print)
Date
Full-time Permanent Employee

A Full-time Permanent Employee shall mean (i) a full-time, permanent employee on the Eligible Business payroll, that has worked for a
minimum of thirty-five hours per week for not less than four consecutive weeks and who is entitled to receive the usual and customary fringe
benefits extended by the Eligible Business to other employees with comparable rank and duties; or (ii) two part-time, permanent employees on
the Eligible Business payroll, who have worked for a combined minimum of thirty-five hours per week for not less than four consecutive weeks
and who are entitled to receive the usual and customary fringe benefits extended by the Eligible Business to other employees with comparable
rank and duties.
revised 4/2/09
World Trade Center Job Creation & Retention Program

Eligible Area
revised 4/2/09
FOR IMMEDIATE RELEASE:

TIME INC. TO MOVE CORPORATE HEADQUARTERS TO BROOKFIELD PLACE IN LOWER
MANHATTAN
Media Company Plans to occupy 700,000 square feet by late 2015
New Yorks Empire State Development Office Provides Incentive Package
NEW YORK, NY (May 22, 2014) Time Inc. said it would relocate its headquarters to Brookfield
Place in lower Manhattan in late 2015. The media company said it had signed a long-term lease
enabling it to occupy six floors and 700,000 square feet of office space at 225 Liberty Street.
The companys headquarters have been located in the Time & Life Building at 1271 Avenue of
the Americas at 50th Street since 1959.
Time Inc.s announcement precedes its planned spinoff from Time Warner Inc., now scheduled
for June 6: "This is a very important move for Time Inc. as we become an independent
company, said Joe Ripp, Chairman and Chief Executive Officer. We spent months evaluating
competing sites in New York and New Jersey. In the end, we were persuaded that the
downtown Manhattan location, Brookfield Office Properties plans for Brookfield Place and the
incentive package we received from Governor Andrew Cuomo and Empire State Development
drove our decision to stay in New York City, he said.
Lower Manhattan has become a new destination for creative businesses, Ripp added. We
have ambitious plans for a modern, open workspace that will be designed to foster a greater
sense of community and collaboration across the company, and it will deliver significant cost
savings.
Time Inc.s decision to remain in New York City and locate in Lower Manhattan is the latest
sign of the economic revitalization and resurgence that we have helped create downtown, said
Empire State Development President, CEO & Commissioner Kenneth Adams. There is no better
place for a premier media company to do business than in New York Citythe media and
creative capital of the worldand we are proud of our efforts to keep Time Inc. right where
they belong, in the Empire State.
As part of a $250 million renovation, Brookfield Place is transforming its waterfront retail and
public space into a world-class shopping and dining experience with a European marketplace,
chef-driven restaurants, lifestyle amenities and a variety of outdoor events. Time Inc. will join
new corporate tenants including the Institute of Culinary Education and the global law firm
Jones Day among others.
Time Inc. joins the growing list of highly regarded media, publishing and creative companies
relocating downtown to reap the benefits of operating in the area, said Dennis Friedrich, Chief
Executive Officer of Brookfield Office Properties. The neighborhoods alluring mix of
restaurants, retail, culture and transportation access is a driving factor for this downtown
migration and the waterfront setting of Brookfield Place is unrivaled in New York City.
Time Inc. was represented in lease negotiations by Mitch Steir, Michael Colacino, Matthew
Barlow and Howard Nottingham of Studley. Brookfield was represented in-house by Jerry
Larkin, David Cheikin and Alex Liscio.
About Time Inc.
Time Inc. is one of the largest branded media companies in the world reaching more than 130
million consumers each month across multiple platforms. With influential brands such as TIME,
PEOPLE, SPORTS ILLUSTRATED, InStyle, REAL SIMPLE, Wallpaper, Travel + Leisure and Food &
Wine, Time Inc. is home to celebrated events and franchises including the FORTUNE 500, TIME
100, PEOPLEs Sexiest Man Alive, SPORTS ILLUSTRATEDs Sportsman of the Year, the Food &
Wine Classic in Aspen and the ESSENCE Festival.
About Empire State Development
Empire State Development (ESD) is New Yorks chief economic development agency. The
mission of Empire State Development is to promote a vigorous and growing economy,
encourage the creation of new job and economic opportunities, increase revenues to the State
and its municipalities, and achieve stable and diversified local economies. Through the use of
loans, grants, tax credits and other forms of financial assistance, Empire State Development
strives to enhance private business investment and growth to spur job creation and support
prosperous communities across New York State.
About Brookfield Office Properties
Brookfield Office Properties owns, develops and manages premier office properties in the
United States, Canada, Australia and the United Kingdom. Its portfolio is comprised of interests
in 113 properties totaling 88 million square feet in the downtown cores of New York,
Washington, D.C., Houston, Los Angeles, Toronto, Calgary, Ottawa, London, Sydney, Melbourne
and Perth, making Brookfield the global leader in the ownership and management of office
assets. Landmark properties include Brookfield Places in Manhattan, Toronto and Perth, Bank
of America Plaza in Los Angeles, Bankers Hall in Calgary and Darling Park in Sydney. The
companys common shares trade on the NYSE and TSX under the symbol BPO. For more
information, visit www.brookfieldofficeproperties.com.
Contact:
Teri Everett, teri.everett@timeinc.com, 212-522-5613

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NYS Consolidated Funding Application

Application Number 38759

Questionnaire Questions & Answers

Are you a not-for-profit, municipality or public benefit corporation?

NYSERDA Energy Efficiency Projects

Recharge New York

NYS CFA - Application Number 38759

Project county or counties.

Project ZIP Code. (please use ZIP+4 if known)

US Congressional District where the project is located.

If you are a DBA, what is your DBA name?

Type of Applicant (select all that apply)

Zip Code (use ZIP+4 if known)

1271 Avenue of the Americas

NYS CFA - Application Number 38759

Telephone Number (include area code)

Senior Vice President

Is this a Global NY Project?

NYS CFA - Application Number 38759

Prior CFA Funding

What is the applicant's Federal Tax ID#?

NYS CFA - Application Number 38759

Electric Utility Company Name

Natural Gas Utility Company Name

Production Machinery & Equipment

Furniture, fixtures & equipment

NYS CFA - Application Number 38759

Demolition & environmental

Soft costs up to 25% *

All PROJECT Locations

What percentage of the project's employees are residents of NYS?

NET NEW JOBS (DIRECT JOBS ONLY)

Net New Job Information (Enter Cumulatively)

Avg Gross Wages/Job

Year 1 - # Net New

Year 2 - # Net New

Year 3 - # Net New

Year 4 - # Net New

Year 5 - # Net New

NYS CFA - Application Number 38759

Enter zero if not applicable.

RESEARCH & DEVELOPMENT

Research & Development

R&D Expenditures in NYS

Agreements - For Applicants To the Excelsior Jobs Program

NYSERDA Energy Efficiency Projects

NYS CFA - Application Number 38759

If submitting on behalf of, please provide contact email address

What is the Project Category/Project Type?

Have project measures, equipment, or scope of work been identified?

Have the measures already been installed?

Facility/Building Size (sq. ft.)

Please describe your project timeline.

Estimated Construction Cost/Project Cost/Study Cost ($)

Please indicate the status of ownership

If submitting a CFA on Behalf of Please enter your company name

If submitting a CFA on Behalf of Please enter your last name

If submitting a CFA on Behalf of Please enter your first name

NYS CFA - Application Number 38759

If submitting a CFA on Behalf of Please enter your title

Please identify how you were referred

Recharge New York

Describe the product(s) produced and/or service(s) provided at the FACILITY: