Vacant Space Revival
Working Together to Revitalize Communities
Eligible businesses can receive incentives to occupy vacant spaces and breathe new life into struggling business districts.
Vacant Space Revival Program
The Vacant Space Revival Program is designed to encourage occupancy of commercial space in a business district or in an area of existing commercial businesses that has been vacant for a period of one year or more. Vacant business space detracts from the economic vitality of a business district and results in under-utilization of existing electric infrastructure.
- The Applicant may be the owner or prospective tenant of the eligible site.
- Applicant must apply within six (6) months of Certificate of Occupancy or Electric Service Application
- Incentives are applicable to the customer of record.
- Landlords may apply for pre-qualification.
- Applicant must also complete an Application for Service to begin receiving electric service at the building.
- Applicant’s electric accounts must be in good standing.
Once approved for the Vacant Space Revival Program by PSEG Long Island, incentives will be provided for twelve (12) months and will be applied to the new business account as bill credits. Credits will be applied monthly, based on the start date of electric service or a mutually agreed upon future start date. Incentives will be front-loaded, and decline over the first year of service in order for the Applicant to acclimate to standard rates. Incentives will be determined and provided as follows:
Time Frame Incentive Award 1-3 bill periods 100% of energy delivery charges based on the initial three billing periods 4-6 bill periods 75% of energy delivery charges based on the previous period's billing 7-9 bill periods 50% of energy delivery charges based on the previous period's billing 10-12 bill periods 25% of energy delivery charges based on the previous period's billing
Note: bill credits are based on energy delivery charges only. Discount to overall bill will vary by usage but are expected to be approximately 40% initially. Incentives are based on energy delivery charges per the above table and are limited to a total incentive of:
- $3,000 maximum under rate 280 or 288
- $10,000 maximum under large commercial rate 281, 283, or 291
- Incentives will be determined by PSEG Long Island, subject to the billing cycle of the specific account, typically not on a calendar month basis. All accounts held by the Applicant (tenant or owner), must be in good standing in order for incentive to be applied. If electric service is cancelled or if Applicant’s account(s) become delinquent, Applicant is not eligible for a partial incentive.
The account receiving the award must:
- Receive electric service from PSEG Long Island, and be eligible for service under small commercial rates (280,288) or large commercial rates (281, 282, 283, 291)
- Be located in a business district or commercial area
- Serve a building/site that has been vacant longer than one year
- Enroll in DirectPay
Note: Applications may be submitted under unique circumstances, if they demonstrate benefits associated with Vacant Space Revival.
The landlord of prospective tenant must complete a written application within six (6) months of Certificate of Occupancy or Application for Service. A site inspection may be scheduled in order to verify existing conditions at the location. PSEG Long Island may request a copy of relevant pages of the lease or purchase agreement.
- Upon approval by PSEG Long Island, an approval letter will be provided to the Applicant.
- It is the responsibility of the Applicant to complete an application for electric service in order to initiate electric service to the facility, and to notify their assigned PSEG Long Island Economic Development representative of the actual start date of service.
- Incentives will be based on the actual start date of service, or a mutually agreed upon date for the material increase in usage to begin, and will be processed monthly. Customer will be notified in writing of each incentive award as issued to the account.
- Customers with an approved incentive for this program must be enrolled in PSEG Long Island’s DirectPay program in order to be eligible to receive the incentive payments.