PRESIDENT'S MESSAGE
On October 18, the STA unveiled our latest White Paper.
Dear STA Members and Friends,
On October 18, the STA unveiled our latest White Paper. The association is committed to helping the economic position of subcontractors in New York City, and there is no better way than education on onerous contract clauses, how to avoid them, and how to protect yourself if there is no room for negotiation.
The White Paper, titled “What do you do? How to Better Manage Contracts, Preserve Claims & Reduce Project Risk” was written by STA Legal Counsel Andrew Richards of Kaufman, Dolowich, Voluck (KDV). We are grateful for the many years of expertise Mr. Richards brought to this paper, and the hard work that he and his team put into writing it. At the event on the 18th, Mr. Richards presented on the contents, along with his KDV colleagues Elizabeth Marchionni and Erik Ortmann, who we also thank for their participation in this important event.
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ANTHONY ACERRA
Principal, ACL Steel
President, STA Board of Directors
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EXECUTIVE DIRECTOR'S MESSAGE
STA is heading into the Holidays.
As we head towards the holidays, I would like to update you on STA activities and progress in the areas of state legislation and public agency relations.
On the state legislative front, the STA’s priority bill for 2022 (S.8844/A.1019) dealing with the issue of material cost escalation is still awaiting action by Governor Hochul. This bill which passed both state legislative chambers in early June would allow certain pre-pandemic public works contracts with State agencies, to be adjusted where material prices have escalated as a result of the tumultuous market supply conditions associated with COVID-19’s impact on the national and world supply chain, specifically as it affected the distribution of construction materials and related commodities.
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HANK KITA
STA Executive Director
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ANDREW RICHARDS
Co-Managing Partner(LI), Kaufman Dolowich Voluck,
Attorneys at Law
Legal Counsel, STA
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It is black letter law that a prime contractor is not liable for damages incurred by a subcontractor for owner driven delays unless the prime contractor agrees to be so liable. This is because a subcontractor is not in privity with the owner and cannot sue the owner directly. As a result, the law recognizes liquidating agreements which are executed between the prime contractor and subcontractor. | | |
STA Holds Fall General Membership Meeting and Unveils Latest White Paper
On October 18, the STA unveiled our latest white paper: “What do you do? How to Better Manage Contracts, Preserve Claims & Reduce Project Risk” at our fall general membership meeting.
The evening’s presentation was put on by the author of the white paper, Andrew Richards of Kaufman, Dolowich, Voluck (KDV Law) and his colleagues Elizabeth Marchionni and Erik Ortmann. Thank you to all three for their hard work putting this together!
The STA would also like to thank our event sponsors: Microsol Bluebeam & Milwaukee Tool.
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Expanded Section 179D Tax Savings for Energy-Efficient Building & Design | | |
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Ronald J. Eagar, CPA, CCIFP
Grassi & Co.
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The Inflation Reduction Act, signed and passed into law on August 16, 2022, includes $369 billion in climate and energy spending. One of the most exciting parts of the package expands the benefit of Section 179D, which provides a tax deduction for contractors who install or design energy-efficient HVAC, building envelope and lighting assets in qualifying structures. | | |
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Richards Plumbing and Heating Co., Inc.
231 Kent Street, Brooklyn, NY 11222
T: 718-383-9900
E: [email protected]
Contact: Richard Turchiano
Plumbing & Heating, Mechanical
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COVID-19 Capital Tax Credit Program Information
The $250 million COVID-19 Capital Costs Tax Credit Program provides financial assistance to New York State small businesses burdened with a range of operational costs stemming from the COVID-19 pandemic, from structural changes and building upgrades to health-related supplies and materials. The Program offers qualifying businesses relief from the added economic burden by providing tax credits to help reduce the pandemic-related financial impact. Small businesses can receive a tax credit of 50% of qualifying expenses up to a maximum of $25,000 in tax credits based on qualifying expenses of $50,000.
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Contact Samantha Sweeney-Annarumma at [email protected] to be featured on STA's LinkedIn with a member profile! | | |
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STA Partners with Mutual of America for STA 401(k) Program
The Subcontractors Trade Association (STA) has teamed up with Mutual of America to offer our members a comprehensive array of retirement plan services through a Multi-Employer Plan (MEP).
For this MEP, STA acts as the plan organizer, and our members may join the plan through participation agreements. This plan is a great idea for many of our members, especially those businesses with a small number of employees, as an MEP will save you money on administrative costs, among other cost-cutting factors.
Please click here and here for more information!
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More information on October 1 Experience Modification Factors Regulation Changes
The NYCIRB has implemented a major change in how experience Modification factors are calculated as of 10/1/22. This will impact every business that operates in New York.
For all renewals effective October 1, 2022, and thereafter, New York Workers’ Compensation policyholders will notice significant changes occurring in how these premiums will be experience rated. These changes are implemented by the NYCIRB (the Bureau) to incentivize employers to improve workplace safety and improve fairness within the rating program; the Bureau’s intent is manifested in a material departure from the existing formulas that determine how an employer’s loss experience affects their premiums through the experience modifier or mod. Here is the rationale directly from NYCIRB on why the change is necessary.
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Norman Gomez-Vasquez
Director – Contract Surety
Construction Practice
Gallagher
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Michael Gallagher
Director
Construction Practice
Gallagher
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Mark Your Calendars for These
Upcoming Meetings and Events
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SOCIAL SIDE OF INFRASTRUCTURE & STA HOLIDAY PARTY | |
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Thursday, December 8, 2022
CohnReznick offices – 1301 Avenue of the Americas, 10th Floor, New York, NY 10019
4:30 pm - Social Side of Infrastructure Seminar
5:30 pm - Holiday Party Begins
Food & Refreshments will be provided.
Free for STA members.
Email [email protected] to register for both.
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STA WINTER GENERAL MEMBERSHIP MEETING | |
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Tuesday, February 7, 2023, 5:30pm-7:30pm
CohnReznick offices – 1301 Avenue of the Americas, 10th Floor, New York, NY 10019
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2023 CONSTRUCTION AWARDS DINNER | |
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Wednesday, April 12, 2023, 6:00 pm - 9:00 pm
Gotham Hall – 1356 Broadway, New York, NY 10018
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Monday, July 17, 2023, 9:30 am - 7 pm
North Hills Country Club
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Associate commissioner of NYC DDC wants more design-build | |
Alison Landry, the newly appointed associate commissioner of alternative delivery in New York City’s Department of Design and Construction, wants to change how contractors approach design-build in the city. | | |
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Construction Spending Strong in NYC, But City Still Lacks
New Housing
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Construction spending in New York City could reach as high as $86 billion in 2022, up from $38 billion in 2021, but there still isn’t enough housing in the mix.
That’s what the New York Building Congress illustrated in its 2022-2024 New York City Construction Outlook released Wednesday, predicting construction spending could reach a total of $270 billion over the next three years.
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