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 | Sep 21, 2020
No ease of lumber price spikes in sight
Wildfires strike Northwest timber industry in wake of Covid-19 shutdowns.
Codes and Standards | Sep 17, 2020
Spate of energy code appeals could hamper efficiency progress
Construction and fossil fuel interests oppose portions of latest model energy code.
Codes and Standards | Sep 16, 2020
Heat pumps are the future for hot water
Sustainability policies will drive trend.
Codes and Standards | Sep 15, 2020
Taller timber buildings approved in National Fire Protection Association code
Ensures compatibility with the International Building Code.
Codes and Standards | Sep 14, 2020
Relocation of neighborhoods, the next step in U.S. flood strategy, is underway
Repeated rebuilding after successive floods now seen as bad policy.
Codes and Standards | Sep 10, 2020
Fannie Mae programs provide incentives for multifamily solar
Affordable housing projects can find PV installations to be cost-effective.
Codes and Standards | Sep 9, 2020
Corporate pledges accelerate net-zero building movement
World Green Building Council drives goal of net-zero carbon emissions by 2050.
Codes and Standards | Sep 8, 2020
Study will examine elevator airflow amid COVID-19 pandemic
Researchers to investigate risk of airborne transmission.
Codes and Standards | Sep 4, 2020
Updated selection, application guide for plastic glazed skylights, sloped glazing released
Part of suite of skylight documents by Fenestration and Glazing Industry Alliance.
Codes and Standards | Sep 3, 2020
Turner Construction takes strong stand against racism
Shuts down work sites for anti-bias training.