ConstructionDive Details emerge of prevailing wage deal between union, NYC on housing projects by Kim Slowey
But the conversation around the prevailing wage and the New York City construction industry is far from over. Last month, New York City Council Member Ben Kallos proposed legislation that would require construction companies to pay their workers the prevailing wage on many projects subsidized by the city, even if those companies do not have a direct contract with the city. If they don't pay the prevailing wage, they would risk the loss of financial assistance for the project and fines of $10,000 a day for noncompliance. The new regulation would apply to projects that receive subsidies of at least $1 million, are 100,000 square feet or more in size or, for residential developments, have more than 50 units per building.