REBNY raises $3M to kill prevailing wage provision

John Banks

John Banks

The Real Estate Board of New York has raised $3 million to bury a provision that would require construction workers be paid a prevailing wage on 421a projects, according to a filing with the New York State Joint Commission on Public Ethics.

Television ads created through an entity called “Putting New Yorkers to Work Inc.” contend that a prevailing wage requirement will stymie affordable housing efforts.

The filing shows a flurry of activity from May 8 through June 18, with some of the city’s biggest developers donating to the cause in time for the passage of the 421a deal. (more…)

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