Prevailing Wages for Publicly Subsidized Projects in New York

The FY2021 New York State Budget adopts provisions requiring prevailing wages on certain construction projects receiving public benefits. The law, codified at Section 224-a of the Labor Law, applies to construction work on projects with total construction costs over $5 million with public funds providing at least thirty percent of the total construction costs. If […]

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CARES Act: Emergency EIDL Grants

Under Section 1110 of the CARES Act, Congress authorized certain advances in the amount of $10,000 to small businesses to assist with the impacts of COVID-19. These $10,000 payments are more in the nature of a grant and are not expected to be repaid by the recipient. Eligible Entities: • Businesses with not more than […]

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April 5th Update on COVID-19, Rent and Evictions in New York

Effective at 8:00PM on March 22, 2020, Governor Cuomo issued a moratorium on the enforcement of either an eviction of any tenant residential or commercial, or any foreclosure of any residential or commercial property for a period of 90 days. This moratorium has caused a lot of fear for landlords of both residential and commercial […]

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Paycheck Protection Program Application Released

The Treasury Department has released the application for 7(a) loans under the Payroll Protection Program. The application is available at: Paycheck-Protection-Program-Application-3-30-2020-v3 Based upon further information provided by the Treasury Department, note the following: • Due to the expectation that a high number of companies will participate in the program, forgiveness is likely to be capped […]

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CARES Act – Planning COVID-19 Re-Hires and Payroll Protection Program Loans

Planning Issues for Re-Hiring Employees and Payroll Protection Program Loans It is laudable and noteworthy that the Payroll Protection Program SBA 7(a) loan program accommodates the many businesses that have been crushed by COVID-19 and the mandatory closures in New York and many other states.  The impact on employees has also been severe.  Over 3 […]

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CARES Act – Paycheck Protection Program

Payroll Protection Program As part of the CARES Act, the SBA 7(a) Loan Program would provide significant assistance to small businesses in the form of potentially forgivable loans. Eligibility: Eligible businesses include: 1. Small business concerns 2. Any for-profit business with fewer than 500 employees 3. Any 501(c)(3) or (19) not-for-profit with fewer than 500 […]

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