Commercial Tenants Must Hike Wages

Mayor de Blasio, Tuesday, signed an executive order raising the minimum wage for employees of commercial tenants in projects with more than $1 million in City subsidies. Analysts expect the order will affect about 18,000 workers, mostly in retail businesses, up from 1200 under the existing Living Wage law. The order sets the Living Wage to $13.13 without benefits or $11.50 with benefits, subject to increases in inflation.

State Senator Brad Hoylman (D-Manhattan) introduced legislation this week to impose a new property tax on single family homes, co-ops, and condominiums not occupied as a primary residence with a fair market value of $5 million or more. The bill targets rich foreigners but would also cover any area resident  with a pied-a-terre and investor owners.

The State Division of Homes and Community Renewal has released a new RT-P8 Lease Renewal form containing a Sprinkler notice required beginning in December, and also updated its Air Conditioner surcharges , effective October 1st.

HPD this week created a new unit to manage the Mayor’s plans for mandatory inclusionary zoning, and announced hiring a California consulting company to help identify the  best neighborhoods for upzoning.

As an ABO member you can get 10 percent off hotel stays booked through Expedia for you and your employees. Register through listing your ABO affiliation and then you can offer the benefit to anyone in your company. Get additional discounts from Staples, Airgas, Sherwin Williams and others as well.

ABO members are welcome free to a CHIP seminar, Affordable Housing 101, from 8:30 – 11 a.m. this coming Tuesday at the CUNY Graduate Center, Elebash Recital Hall, 1st Floor, 365 Fifth Avenue. RSVP to

October 29th, ABO is asking “What Price Energy? Buying It, Saving It, Making It” in a program at 12:30 during the NYARM Expo at the Hotel Pennsylvania on 7th Avenue and 33rd St. Come learn how to save money buying energy, how to get others to pay for saving it, and whether it pays to try to make your own.

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