Development incentives are nothing new in New Jersey. In fact, they have been part of the state’s process for attracting businesses for many years. However, when the 2013 Economic Opportunity Act was allowed to expire in July of 2019, no
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Project Owners and General Contractors Take Note: Notice-to-Cure Provisions for Termination of Construction Contracts Cannot Be Disregarded Except in “Very Limited and Rare” Circumstances
Construction contracts generally outline various scenarios in which a party can terminate the contract. In one common scenario, a contractor is permitted to terminate its subcontractor “for cause” if the subcontractor provides deficient work or fails to meet the project…
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Vaccination Requirements Put Trades in the Middle but Path Forward is Clear
The construction industry, like many others, was hit hard by the COVID-19 pandemic. As the industry adjusts to the new normal, not everyone is on the same page.
Many project owners, rather than risk site shutdowns and potential inefficiencies from…
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Parties to Construction Contracts Should Exercise Caution When Allowing an Arbitrator to Change Hats Between Mediator and Arbitrator
Summer associate, Luke Alba, contributed to this article.
Dispute resolution provisions providing for mediation as a prerequisite to arbitration are standard in AIA construction contracts. Parties may nonetheless mutually agree to eliminate or waive those provisions and proceed directly to…
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Eligible New York City Building Owners: Now is the Time to Take Advantage of C-PACE Financing
Summer Associate, Dalila E. A. Haden, contributed to this blog.
In early June, the first Commercial Property Assessed Clean Energy (“C-PACE”) transaction closed in New York City, courtesy of C-PACE financing provided by Petros PACE. In connection with a…
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NY Contractors Face Increased Liability and Administrative Costs from Proposed Amendments to Wage Theft Prevention Act
The State of New York is poised to pass wage theft legislation that could have a major impact on the construction industry across the state. Among other things, it would impose greater liability risk on prime contractors and reporting requirements…
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Qualified Opportunity Zone Investing: A Life Saver for Tax Reform
The Biden tax reform proposals target many tax benefits associated with real estate investing. If adopted, the ability to do tax free like kind exchanges may be eliminated and the maximum long term capital gains rates on sale may rise…
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Owner Liability to Construction Subcontractors in Contract or Quasi-Contract
The typical arrangement on most construction projects is that the property owner or developer engages the services of a general contractor or construction manager, which in turn subcontracts the work out to the various trades pursuant to a number of…
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The Difficulty of Cancelling an Untimely New York Mechanic’s Lien
As discussed in our recent post, New York Lien Law § 19(6) provides a procedure for an expedited legal action seeking summary discharge (cancellation) of a mechanic’s lien. However, summary discharge is only available where there is a “facial…
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New Class of Certificate of Occupancy Coming Soon to NYC
At the end of last year, the New York City Council voted to approve Intro. 2033, legislation which will create a new class of certificate of occupancy: the Interim Certificate of Occupancy (“ICO”). The Department of Buildings is permitted…
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