T
he City Council's agenda is packed with bills affecting the real estate industry. A construction wage bill, backed by laborers' union, is gaining momentum. The Construction Justice Act would mandate wages and benefits worth at least $40 per hour for certain housing projects receiving public funding. This includes $25 in wages, which may be phased in depending on negotiations.

    The wage rules would apply to housing projects with city funding of $1 million or more, 100 units or more, and construction costs over $3 million. Demolitions are also included. The Real Estate Board of New York has expressed support for the bill, finding it more palatable than a prevailing wage measure proposed by the New York City District Council of Carpenters.

    The Construction Justice Act sets similar wage terms to an agreement between REBNY and the laborers' union over 485x's wage floor. Given that state officials signed off on this rule, Local 79's Oona Adams is hopeful city officials will follow suit. The bill will be discussed at a hearing on Monday.

    The City Council has also passed a bill requiring hotel operators to obtain a license and is considering how to carve up the City of Yes for Housing Opportunity. Additionally, they are mulling the end of broker fees as we know them.