As an update to Rosenberg & Estis, P.C.’s upcoming 421-a Webinar (Part 1 of 3): Wage Issues, we are pleased to announce the addition of R&E Litigation Member Michael T. Carr who will join Daniel M. Bernstein, Member and Leader of R&E’s Tax Incentives & Affordable Housing Department, as a co-speaker during the December 6th program. In addition to Daniel’s extensive knowledge of 421-a, Michael will bring invaluable litigation experience to the presentation, including collaborating with Daniel on 421-a wage issues before the NYC Comptroller’s office. If you have not done so already, please use the link to register for the webinar. More information about Parts 1, 2 and 3 of this series is included below.
421-a provides a valuable property tax exemption to thousands of NYC residential buildings in exchange for certain compliance obligations. 421-a Buildings have been the subject of increased scrutiny by NYC and NYS agencies. Owners, lenders, developers and their counsel will want to attend these webinars to focus on compliance, best practices and how to deal with potential investigations.
Part 1, to take place Tuesday, December 6, will focus on wage obligations (prevailing wage obligations for building service employees and construction wage requirements). Additional topics include:
- Which 421-a Buildings are subject to Prevailing Wage and Construction Wage requirements.
- Exemptions from Prevailing Wage and Construction Wage requirements.
- Prevailing Wage requirements.
- Construction Wage requirements.
- Best practices for compliance.
- What to do if an investigation is initiated.
- Potential consequences for non-compliance.
Parts 2 and 3, to take place Wednesday, March 15 and Wednesday, March 22, will focus on affordability, rent stabilization, deregulation and recent litigations. Additional topics include:
- Overview of Affordability requirements.
- Which Rent Stabilization requirements apply to particular types of 421-a benefits.
- Exemption from Rent Stabilization.
- Deregulation from Rent Stabilization.
- 421-a 2.2% Rent Surcharges.
- Recent litigation involving 421-a Buildings.
- Best practices.
- What to do if an investigation is initiated.
- Potential consequences for non-compliance.