ICIP was created in 1984 in an effort to stimulate economic development via tax exemptions and abatements for construction or rehabilitation of commercial, industrial, or mixed-use buildings. It is administered by the Department of Finance which reviews projects to ensure they are continuing in compliance with the program. It was sunset in 2008 and replaced by ICAP. To qualify for ICIP, all construction work must have been completed prior to December 31, 2013.
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