New York State has expanded it prevailing wage law to include private projects worth $5 million or more and that have received public subsidies of at least 30% of total construction costs.
Gov. Andrew Cuomo signed the provision as part of the fiscal year 2021 budget on April 3. The definition of public subsidy includes:
· Direct or indirect payments by a public entity to contractors, subcontractors, developers, or owners that do not have to be repaid
· Savings from fees, rents, interest rates, other loan costs or insurance costs that are below market rate
· Savings from tax credits, tax abatements, tax exemptions, tax increment financing and payments in lieu of taxes
· Any other cost savings due to the involvement of a public entity
· Loans that are to be repaid on a contingent basis, and credits against loan repayments or other obligations.
There are exemptions such as tax credits for brownfield remediation and redevelopment. Projects not covered under the new law include owner-occupied single- or two-family dwellings, properties of four dwellings or less, certain not-for-profit projects, construction work performed under select pre-hire collective-bargaining agreements, projects funded by the state’s Urban Development Corporation Act or Downtown Revitalization Initiative, and certain school, historic, and renewable energy projects.
Related Stories
Codes and Standards | Nov 17, 2020
Midtown Manhattan’s empty offices could be converted to affordable housing
Advocates envision idle offices re-zoned to alleviate housing crisis.
Codes and Standards | Nov 16, 2020
New concrete detailing manual includes downloadable CAD files
American Concrete Institute document contains guidance on codes for structural concrete.
Codes and Standards | Nov 12, 2020
California rent control measure defeated
Golden State voters reject Proposition 21.
Codes and Standards | Nov 11, 2020
NY court ruling makes it easier for condo boards to sue investors for construction defects
Investors would be tapped for damages on such cases.
Codes and Standards | Nov 10, 2020
Researchers and industry leaders will form national institute for AI in construction
Goal is to identify high-impact areas for application in design and construction.
Codes and Standards | Nov 6, 2020
Jobsite injuries in New York City decline 20% since 2017
Safety training cited as a cause of improvement.
Codes and Standards | Nov 4, 2020
Commercial building owners having tougher time securing insurance policies and renewals
Insurers’ fears of civil unrest in wake of election prompt builder’s risk coverage moratoriums.
Codes and Standards | Nov 4, 2020
Turn rooftops into revenue generators with solar arrays
Lease or ownership models for PVs make more sense than ever.
Codes and Standards | Nov 3, 2020
The argument against gas stoves includes degraded indoor air quality
Asthma seems to be aggravated by cooking with flame.
Codes and Standards | Nov 2, 2020
Wildfires can make drinking water toxic
Updated building codes could mitigate the danger.