It's moving day: nonprofits are staying in the city this time.

It was an exodus of nonprofits and associations from New York City during the 1980s that prompted a program offering substantially below-market rents at 120 Wall St. Today, another exodus is under way, only this time it's usually an intra-city move, from the so-called "Association Center" at 120 Wall St. to locations around Manhattan, and even nearby Brooklyn.

Most of the nonprofits in the 34-story building have leases that expire during the next few years, if they haven't already, said Joel Dolci, president and CEO of the New York Society of Association Executives (NYSAE), which helped push for tax abatements to create The Association Center.

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"They probably will have to find some other space but we are extremely interested in helping them out," Dolci said. "We don't want a repeat of what happened in the 1980s where we in effect lost associations and much of the not-for-profit community."

Crediting the administration of then New York City Mayor David Dinkins, Dolci described the Association Center as "the beginning of the end" of the exodus of associations and nonprofit from New York. "They left because of the high cost of doing business, and when they identified what the high cost was, it was primarily rental and inability to purchase space at affordable rates, and that's why the Association Center came into existence," he said.

Looking to shore up the downtown real estate market, the city's Economic Development Corporation and the building's landlord, Silverstein Properties, partnered on an incentive program to offer nonprofits reduced rent starting during the early 1990s. Nonprofits agreed to 15-year leases with an average annum rent of $19.74 per square foot--including $22.74 during the last five years--an annual tax exemption of about $5.26 per square foot, which was the tax rate when the program was started. At the time, market-rate rentals downtown were about $25 per square foot, but today have soared well past $40, according to reports.

Today, 81 percent of the building is occupied by nonprofits, according to Dara McQuillan, a spokesman for Silverstein Properties. At one time, nonprofits occupied the entire building. While the tax subsidy expired in 2002, McQuillan said that five nonprofits have renewed leases during the past year or two at market rates. "Even at market rates, it shows nonprofits are interested in staying in the building," he said. Others have remained downtown after leaving 120 Wall.

Though there have been rumors about the building going residential-given the views of Brooklyn and the East River--McQuillan said there are no plans right now and he "couldn't indulge in a hypothetical" about whether it will be considered.

NYSAE's Dolci would like to create a new program, similar to the Association Center, and if increasing rents" is becoming an issue--and I believe it might very well be becoming an issue--the leaders of the nonprofit and association community likely will look into doing something similar in the future."

A spokesman for the city's Economic Development Corporation said no one has approached the city about starting a similar program, but added that the city helps nonprofits expand and improve their facilities through bond financing.

To some, the city had better start doing something, and quickly.

"Five years from now I think there will be significantly fewer nonprofits in Manhattan," unless the city provides some incentives to stay or incentives for landlords to make rents affordable, said Sharon Camp, president and CEO of the Guttmacher Institute, whose lease doesn't expire until July but purchased a nearby commercial condominium last year.