Building 77 Qalicb

Building 77 Qalicb, Inc. (the "corporation") was organized on december 10, 2014, as a new york nonstock, nonprofit corporation for the purpose of rehabilitating and operating a commercial property located in brooklyn, new york. The property includes one Building which is expected to consist of 1,000,000 square feet of commercial rental space. As of december, 2023 and 2022, 668,394 and 668,394, respectively, of square feet were leased. The property is owned by the city of new york, which leases it to brooklyn navy yard development corporation ("bnydc") which in turn leases to the corporation. The corporation sublets the space to commercial tenants. The corporation is a qualified active low-income community business in accordance with the terms under the new markets tax credit ("nmtc") program pursuant to section 45d of the irc. The corporation is required to comply with various rules and regulations and failure to comply with these or other requirements could result in the recapture of nmtc already taken by the mortgage lenders and potential loss of future nmtcs.