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FY 2022 Will Herald Prevailing Wage Requirement for Tax Abatements

On Labor Day, Governor Kathy Hochul signed Senate bill S6350A that prohibits most individual unit owners or shareholders in condominiums (condos) or cooperatives (coops) from obtaining or maintaining tax abatements under...more

Expanded Façade Inspection Requirements

Effective February 20, 2020, the New York City Department of Buildings (DOB) expanded the requirements of its Façade Inspection and Safety Program (FISP), known previously as Local Law 11. Cooperative and Condominium Boards...more

Cooperative and Condominium Tax Abatement Safe from Prevailing Wage Requirement

Coops and condos will not need to pay their service employees prevailing wages to keep their units eligible for the Cooperative and Condominium Tax Abatement (the abatement). The abatement reduces property taxes between 17.5...more

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