News: Spotlight Content

NAIOP's Upstate New York chapter visits state capitol in Albany - May 20

Leaders from the National Association of Industrial and Office Properties' (NAIOP) Upstate New York chapter visited the state capitol in Albany on Tuesday, May 20. Among those members who visited the State House included Upstate New York president Laura Zaepfel (Uniland Development Company), public affairs chair Stuart Baker (SE Baker & Co.), president-elect Thomas Thaney (Public Abstract Corporation) and NAIOP Upstate NY chapter executive Karen McCready. Melissa Huffman, NAIOP director of state and local affairs, also attended the event, as well as Aaron Hilger and Denise Murphy McGraw from Builder Partner, a group representing NAIOP and contractors across the state. Throughout the day, NAIOP members met with key legislative and committee members in the State House to discuss the issues that most affect commercial real estate development in the state of New York, including: * Industrial Development Agency (IDA) Reform Legislation - NAIOP members in New York invest millions of dollars of capital investment in the state thanks to the tax incentives and financing of IDA. Changes in the current legislation would significantly increase the cost of IDA supported projects and are counterproductive to Governor Paterson's efforts to curtail excessive government spending. Specifically, NAIOP Upstate New York opposes the prevailing wage to construction contractors and the living wage to project employers, these requirements that will only inflate already rapidly increasing construction costs and weaken New York's competitiveness among other states. NAIOP Upstate New York encourages the General Assembly to bring all stakeholders to the table to find meaningful solutions supported by all interested parties and pass the much needed legislation. * Brownfield Reform Legislation - NAIOP Upstate New York members support reforms to the Brownfield Remediation Laws and administrative improvements that will expedite state approvals and project completions. We strongly encourage legislators to include the development industry in its discussions of these reforms. NAIOP Upstate New York supports reforms that include eligibility requirements defined by the legislature providing predictability necessary to move forward on projects and eliminate the added lengthy bureaucracy of the Department of Environmental Conservation, Empire State Development and the Department of Taxation administering the program. * Wetlands Legislation - NAIOP Upstate New York will support wetlands legislation that creates criteria that is reproducible and scientifically defensible. NAIOP Upstate New York does not support increases in New York Department of Environmental Conservation jurisdiction of wetlands from 12 acres to 1 acre as found in the current legislation. A vague definition of wetlands will lead to inconsistent results. * Labor Law 240/241 (Scaffold Law) - NAIOP Upstate New York supports legislation that would level the playing field and make workers responsible for the portion of the injury caused by them when the accident is the fault of a worker's criminal, wrongful, or negligent behavior. The high cost of liability insurance affects the ability of developers, minority owned businesses, small business owners, and business owners in the Western region of New York to compete for new business. NAIOP Upstate New York supports the healthy and safe environment of its employees and can provide necessary liability coverage without the burden of this mandate. During their visit to the State House, Upstate New York members met with Senators Jim Alesi (R-Perinton), economic development chair; Joseph Robach (R-Greece), labor chair; Bill Stachowski (D-Lake View), Ranking Minority Member Ways and Means; and Dale Volker (R-Erie), codes committee chair, as well as Assemblymen Joseph Errigo (R-Conesus); Jim Hayes (R-Amherst), Ranking Minority Ways and Means Member; Joe Morelle (D-Irondequoit), insurance chair; and Robin Schimminger (D-Kenmore), economic development chair. Additional detail regarding NAIOP is available at www.naiop.org.
MORE FROM Spotlight Content

Over half of Long Island towns vote to exceed the tax cap - Here’s how owners can respond - by Brad and Sean Cronin

When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
How much power does the NYC mayor really have over real estate policy? - by Ron Cohen

How much power does the NYC mayor really have over real estate policy? - by Ron Cohen

The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:

Formal Legislative Role

Limited direct lawmaking power: The NYC Council is the primary
Properly serving a lien law Section 59 Demand - by Bret McCabe

Properly serving a lien law Section 59 Demand - by Bret McCabe

Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
The strategy of co-op busting in commercial real estate - by Robert Khodadadian

The strategy of co-op busting in commercial real estate - by Robert Khodadadian

In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
Oldies but goodies:  The value of long-term ownership in rent-stabilized assets - by Shallini Mehra

Oldies but goodies: The value of long-term ownership in rent-stabilized assets - by Shallini Mehra

Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability