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New York's Consumer Directed Personal Assistance Program (CDPAP) has experienced a significant increase in spending, from $219 million in 2014 to $9.1 billion in 2023, due to loosened eligibility requirements. While the program aimed to empower individuals by allowing them to select and train their caregivers, it has faced criticism for promoting caregiving roles with an emphasis on perks rather than qualifications. Governor Kathy Hochul's recent decision to reduce the number of intermediary companies from 700 to one is seen as a step towards cost reduction, but concerns about service disruption and administrative chaos remain. The program's high costs and susceptibility to fraud highlight the need for further attention and reform. [Extracted from the article]

American Opportunity, a little-known group funded by Michael Bloomberg, became one of the top lobbying clients in New York in 2023. The group spent $4.7 million on television advertisements and social media campaigns supporting Governor Kathy Hochul's agenda. Bloomberg's involvement was surprising, as he had not been considered an ally of Hochul's. American Opportunity has not reported any lobbying in 2024, and it is unclear if the group is still active. The rest of the top 10 lobbying clients included the Healthcare Education Project, Genting, the New York Trial Lawyers Association, and StudentsFirst New York. The high spending on lobbying reflects the influence of money in policymaking, according to the watchdog group New York Public Interest Group. [Extracted from the article]

Hack.Diversity, a Boston-based nonprofit, has expanded its fellowship program to New York in an effort to break down hiring barriers and increase access for diverse early career tech workers. The program connects aspiring technologists with their first tech internship through a nine-month fellowship. Since its launch in 2016, the program has paired over 500 fellows with tech-focused host companies. The program provides professional development training and industry exposure to help fellows succeed in the tech industry. Hack.Diversity raises about $2 million annually from individual contributions and grants, with its biggest donors including the Barr Foundation and the Chan Zuckerberg Initiative. [Extracted from the article]

New York-area airports, including LaGuardia, Newark Liberty, and JFK International, are undergoing major transformations to modernize their terminals. LaGuardia has already completed an $8 billion renovation, resulting in a light-filled and art-filled terminal that was named the best new airport terminal in the world in 2023. JFK is currently undergoing a $19 billion revitalization, with two new terminals set to open in phases between 2026 and 2030. Newark Liberty has also undergone a $2.7 billion revamp, with plans to update Terminal B and replace the AirTrain by 2030. While the developments have been praised, some critics are calling for better public transportation options to the airports. [Extracted from the article]

New York City's transportation infrastructure is in need of a major overhaul to accommodate the projected population growth and ensure accessibility for future generations. The MTA and other stakeholders have plans to expand services, reduce commute times, and improve accessibility. However, funding shortfalls and legal challenges have delayed many projects, including congestion pricing. The city's current transit system also requires maintenance and updates, with a significant portion of the MTA's budget allocated to these efforts. Despite these challenges, there are several ambitious projects in the works, such as the Second Avenue Subway Phase Two and the Interborough Express, which aim to bring service to underserved communities. Additionally, there are plans to replace and expand the Port Authority Bus Terminal and construct the Gateway tunnel to alleviate train congestion. As alternatives to traditional transportation, ferry services, electric vehicles, and autonomous vehicles are also being explored. The implementation of congestion pricing and the development of electric air taxis could further improve transportation in the city. While the costs of these projects are substantial, they are seen as long-term investments that will benefit future generations. It is crucial, however, to prioritize the maintenance and upkeep of the existing system to prevent further deterioration. [Extracted from the article]

New York City is experiencing a surge in studio space, making it a competitive location for film and television production. With over 50 state-qualified production facilities and several major studio projects in development, the city is becoming known as "Hollywood East." The abundance of studio space, along with the iconic skyline and generous film tax credit, is attracting filmmakers and generating billions of dollars in economic impact. Despite potential challenges from strikes and a decline in demand from streaming platforms, New York's studio boom is transforming the city into a major filming destination. [Extracted from the article]

New York City has introduced a tax incentive in this year's state budget to encourage office-to-residential conversions as a solution to the city's housing shortage and office surplus. The program, launched by the Department of Housing Preservation and Development, will accept applications later this year. Key details of the incentive include a timeline for project completion, affordability requirements, minimum building size, and varying tax benefits based on location. The tax exemption for projects in Manhattan's prime development area will start at 90% and decrease over time, while projects outside of this area will receive a starting tax break of 65%. [Extracted from the article]

Michelin has added eight restaurants to its New York dining guide, with seven located in Manhattan and one in Queens. These additions are seen as a preview to the announcement of this year's Michelin stars, which are highly regarded in the restaurant industry. The new restaurants may also be considered for the Bib Gourmand list, which recognizes establishments that offer high-quality food at a relatively low cost. Last year, the Michelin honors were revealed at a combined ceremony for New York, Chicago, and Washington, D.C. The newly added restaurants are described as "culinary gems" and include Café Carmellini, Coqodaq, Corima, Four Twenty Five (a Jean-Georges Restaurant), Foxface Natural, Kanyakumari, Tolo, and Vert Frais. [Extracted from the article]

An effort to establish a commission with subpoena power to investigate New York's response to the Covid-19 pandemic did not pass during the recent legislative session. The proposed commission, supported by Democrats and Republicans, aimed to conduct a depoliticized investigation into the failures of the pandemic response. While congressional Republicans have conducted their own investigation, a partisan inquiry has limitations. Some Democrats in New York, including state senator Julia Salazar and Assembly member Jessica González-Rojas, are seeking answers regarding Governor Andrew Cuomo's handling of the pandemic. The legislation would have required hearings and testimony from appointed members, leading to a comprehensive report. Without a thorough examination of the failures in 2020, New York may repeat the same mistakes in future crises. Governor Kathy Hochul has requested an outside review of the state's response, but without subpoena power. It is crucial for New Yorkers to understand what went wrong and how to prevent future catastrophes. [Extracted from the article]

Steve Cohen, owner of the New York Mets, has purchased the New York Golf Club and is launching a new sports team called the Tomorrow's Golf League (TGL). The TGL is a partnership with the PGA Tour and aims to bring tech-infused play to the sport of golf. Matches will be played in an indoor arena in Florida and televised on ESPN. While the economic impact on New York City is expected to be minimal, the team plans to have a local presence through merchandise and branded events. The TGL team will consist of four PGA Tour golfers, including Rickie Fowler and Xander Schauffele. The popularity of the league remains uncertain, but Cohen and TGL are confident in its success. [Extracted from the article]

Rosanna Scotto, co-anchor of Fox's Good Day New York, has had a successful career in both local news and the restaurant industry. Her Brooklyn accent and warm personality have endeared her to TV executives and patrons of her family's restaurant, Fresco by Scotto. The restaurant, which is owned and operated by three generations of Scottos, celebrated its 30th anniversary last year. Scotto believes that local news will always be important because people want to know what's happening in their community. She has covered notable events and interviews throughout her career and attributes her success to her ability to make people comfortable while also challenging them. Scotto grew up in Dyker Heights, Brooklyn, and has witnessed the changes in the city over the years. She now lives on the Upper East Side and is married with two children. [Extracted from the article]

The New York Court of Appeals has ruled in favor of Howard Hughes Holdings, allowing them to proceed with their controversial tower project at 250 Water St. in the South Street Seaport. The court denied a motion from the community group South Street Seaport Coalition to appeal a prior ruling that upheld a key approval for the project. The project, which has faced community pushback, will include a 27-story mixed-use tower with approximately 400 apartments, including 100 affordable units. The court's decision has been praised by the developer and the city, but criticized by the coalition as enabling backroom dealings and setting a bad precedent for future preservationist battles. [Extracted from the article]

New York City will host the National Urban Rat Summit in September, a first-of-its-kind nationwide summit dedicated to fighting rodent infestations. The summit, organized by the city's Department of Health and Mental Hygiene and Cornell University, aims to bring together experts and leaders to advance solutions for rodent mitigation. Mayor Eric Adams has made rat-fighting a priority, implementing measures such as requiring all trash to be stored in containers and appointing a "rat czar" to coordinate efforts. The city has seen a decline in rat sightings this year, and the summit aims to address the limited research on urban rats and their management. [Extracted from the article]

According to an article in Crain's New York Business, the pass rate for the New York State Bar Examination in February was 42%, with first-time test-takers from American Bar Association (ABA)-approved law schools passing at a rate of 71%. There were no significant differences in success on the exam between students who studied at ABA-approved law schools in New York or elsewhere in the U.S. Of the graduates from New York law schools who took the exam for the first time, 72% passed, compared to 69% of their counterparts from out-of-state ABA-approved law schools. Foreign-educated candidates had a pass rate of 35%, while repeat test-takers had a pass rate of 33%. The overall pass rate for the July 2023 exam was 66%, with first-time test-takers from New York's ABA-approved schools passing 83% of the time. [Extracted from the article]

Crain's New York Business recently held its second annual Women of Influence luncheon to honor some of the city's prominent women. The event, attended by over 250 people, recognized 11 individuals, including Kathryn Wylde, Julie Tighe, Dr. Michelle Morse, and FDNY Commissioner Laura Kavanagh. In addition to the honorees, Crain's also acknowledged mentors, rising stars, and women-forward workplaces for their contributions to creating a business community that supports women's growth. Actress and labor leader Fran Drescher delivered a keynote speech, encouraging attendees to embrace qualities like empathy and vulnerability in leadership roles. [Extracted from the article]

The article discusses the recent housing deal in New York and the lack of support it has received. The deal includes "good cause" eviction protections, a replacement for the affordable housing tax break, and measures to raise rents on regulated apartments. However, it does not include the statewide housing mandates from 2023. The article argues that while leaving out the mandates may have been necessary to reach a deal, they should still be part of the ongoing debate to address New York's housing shortage. The article also highlights the need to focus on increasing housing production in the suburbs, as the city has been slightly more successful in recent years. The $650 million incentive program launched by Governor Hochul is expected to encourage development in the suburbs, but skepticism remains about its effectiveness. The article concludes by emphasizing the importance of keeping housing as a prominent topic in Albany and including mandates in future discussions to address the housing crisis. [Extracted from the article]

The article announces the recognition earned by Oishi Health in the 2024 Innovators Awards program of "Modern Healthcare" journal.

New York City has become the first city in the United States to implement congestion pricing in an effort to reduce vehicle traffic and pollution. The Metropolitan Transportation Authority (MTA) board has approved a plan to charge drivers a $15 toll to enter Manhattan below 60th Street, with the revenue generated expected to improve mass transit in the region. The tolls will also provide discounts for drivers using already-tolled crossings and will be cheaper during overnight hours. However, the plan is facing potential legal challenges, and the tolls still need approval from federal regulators. [Extracted from the article]

New York State has been grappling with a housing crisis for the past three years, with rents and home prices skyrocketing while the addition of new homes lags behind job growth. The state legislature's inaction and lack of progress have left New York City unable to address the issue effectively. To combat this, Albany must revive and revise incentive programs, adopt a cautious approach to "good cause" eviction, eliminate the floor area ratio cap, utilize state-owned land for affordable housing, and embrace office-to-housing conversions. The current situation is seen as a failure on the part of legislators, and urgent action is needed to alleviate the suffering of New Yorkers. [Extracted from the article]

Julie Satow, a former real estate reporter for Crain's New York Business, has written a new book titled "When Women Ran Fifth Avenue." The book focuses on the female executives who were in charge of New York's department stores in the past. Satow's previous book, "The Plaza: The Secret Life of America's Most Famous Hotel," received positive reviews. She faced challenges transitioning from newspaper reporting to book writing but was able to uncover forgotten information about the famous hotel by accessing a database of articles. Satow's new book aims to highlight the careers of women who faced obstacles in pursuing successful careers. [Extracted from the article]

Amazon-owned Whole Foods Market is planning to open "quick shop" stores in New York City, modeled after the city's bodegas. The stores will range in size from 7,000 to 14,000 square feet and will offer grab-and-go meals, last-minute dinner ingredients, seasonal produce, meat, and seafood. The first location will be on the Upper East Side of Manhattan, with four additional leases already signed for other locations in the city. Whole Foods previously tested a bodegalike shop in Chelsea in 2019 but had to close it during the pandemic. The head of the United Bodegas of America union is skeptical of Whole Foods' success in this venture. [Extracted from the article]

New York's congressional districts have been finalized, with the Democrat-run Legislature drawing districts that closely resemble the lines proposed by a court-appointed special master in 2022. This comes after Democrats denounced the special master's lines two years ago, which negated their attempted gerrymander. The hope of engineering a map that would give Democrats control of the House did not come to fruition, but there is still hope for a Democrat-controlled House in 2025. The greater issue highlighted by this process is that New York's redistricting process is broken, and there is an opportunity for the Legislature and the governor to fix it for 2032 by creating an independent redistricting commission. [Extracted from the article]

According to a recent report from Empire State Realty Trust, leased office space in Manhattan has seen a gradual increase, despite a slight decrease in occupancy. The trust, which owns the Empire State Building, leased approximately 164,000 square feet of commercial space across 19 sites in the fourth quarter of 2023, ending the year with over 950,000 square feet leased. While occupancy dipped slightly, the overall occupancy rate for the trust's Manhattan offices and commercial spaces remains higher compared to the previous year. The company also reported strong demand for its Manhattan office portfolio, with a healthy leasing pipeline for 2024. [Extracted from the article]

The article discusses the ongoing debate over redrawing congressional districts in New York. The Independent Redistricting Commission has proposed new maps, which have been approved by the bipartisan commission but still need to be approved by the Democrat-run state Legislature. Democrats are eager to retake the House and may reject the commission's maps in favor of drawing their own. However, the article argues that a fair and independent redistricting process should be established for future censuses to avoid further confusion and ensure democracy. [Extracted from the article]

A new study commissioned by the state of New York has found that the state's film tax credit is a "net negative" and fails to provide a return on investment for taxpayers. The study concludes that for every $1 invested in film productions through tax breaks, the state only receives 31 cents in return. Critics argue that much of the filming activity funded by the credit would have happened in New York regardless, and the credit functions more as an ongoing subsidy rather than a one-time incentive. However, supporters of the tax credit point to other studies that have found better results and argue that it is crucial for growing the state's economy and creating jobs. [Extracted from the article]

New York City has announced a plan to eliminate black garbage bags from its sidewalks by outfitting all residential buildings with their own trash containers. The city has also developed a new side-loading truck capable of lifting and dumping these future bins. A pilot program will be implemented in West Harlem, with the goal of eventually containerizing the entire city's trash. The administration plans to require large buildings with 31 or more units to use stationary, on-street containers, and each bin will serve residents of a single building. Containerizing trash is seen as a necessary step to reduce the presence of rats in the city. However, implementing this plan citywide may require removing about 1% of the city's parking spots. The cost of expanding the new trucks and containers citywide has not been released, but the future trucks are expected to cost slightly more than the approximate $500,000 price tag for a present-day rear-loading truck. Certain neighborhoods with narrow streets and high volumes of trash may be unable to accommodate containers. Other waste reforms introduced under Mayor Eric Adams include a citywide residential composting program and reforms to the commercial waste system. [Extracted from the article]

The State Board of Elections in New York is seeking to enforce over $300,000 in penalties against the Democratic Socialists of America's (DSA) New York chapter. The penalties are related to a paperwork violation regarding a multicandidate committee set up by DSA to support socialist candidates. The DSA argues that they received conflicting guidance from the Board of Elections in the past and that the candidates themselves confirmed their authorization. The Board of Elections' action has raised questions about its neutrality and motives, as it has a history of struggling with election enforcement and the chief enforcement counsel has ties to the Democratic Party. [Extracted from the article]

New York City is home to a network of influential and newsworthy real estate families, whose control over vast portions of the city's landscape rivals that of longstanding institutions like Trinity Church and Columbia University. These families, which include the LeFraks, Rudins, and Dursts, often operate under the radar, with their power and reach extending into politics. Crain's New York Business has profiled 14 of these prominent families, chronicling their rise, business deals, and challenges. However, determining the exact ownership of these real estate empires can be difficult due to their private nature and the use of limited liability companies. These families have a major impact on the city, not only through their financial contributions but also through their involvement in civic life, such as supporting museums and maintaining city parks. While other cities have real estate investment trusts controlling properties, New York's high degree of family control sets it apart. [Extracted from the article]

New York City's real estate industry is largely dominated by influential families, such as the Dursts, Kushners, Silversteins, and Goldmans. These families have a significant impact on the city's streetscape and overall functioning. Crain's New York Business has compiled a catalog of these families, taking into account their notable portfolios and longevity in the business. The article provides origin stories, key players, and notable news events associated with each family. For more in-depth profiles, readers can visit CrainsNewYork.com/RealEstateFamilies. [Extracted from the article]

Curaleaf Holdings, one of the licensed medical marijuana companies in New York, has received approval to begin recreational operations. CEO Matt Darin emphasizes the importance of local partnerships in the company's plans for the New York cannabis market. Curaleaf aims to serve the wholesale market and is looking to work with different groups. While there are concerns about competition, Darin believes that the market will not be dominated by a few companies and that there are opportunities for collaboration and symbiotic relationships. The biggest competition is the illicit market, and it will require the will of governments and law enforcement to rein it in. While there are similarities to California's struggles, Darin is cautiously optimistic about New York's potential. [Extracted from the article]

Auctions are becoming a more popular way to sell real estate in New York, offering speed and transparency. Major brokerages have partnered with auction houses, and even smaller-scale brokerages are considering offering auctions as a tool for sellers. The practice of selling real estate through auctions has traditionally been associated with foreclosures and desperation, but it is now being used for non-distressed properties, including luxury homes. While auctions can result in lower sale prices, they can also generate buzz and attract buyers. [Extracted from the article]

New York City has spent $27 million on snow removal in recent snowless winters, despite not having a significant snowfall in over 700 days. The city's annual snow removal budget is determined by averaging the actual costs from the previous five fiscal years. In the 2023 fiscal year, the city spent only $49.7 million on snow removal, well below the $96.2 million reserved for that purpose. The city has been criticized for over- or under-budgeting snow removal costs due to the unpredictable nature of weather forecasting. The Citizens Budget Commission has suggested that snow removal duties be divided among multiple agencies to save on costs and potentially reduce the workforce. [Extracted from the article]

Governor Kathy Hochul has unveiled a six-point policy plan to address infant and maternal mortality in New York state. The plan includes initiatives to improve paid leave time for expecting mothers, expand access to doulas, and eliminate out-of-pocket costs for pregnancy care. Hochul's proposal also aims to provide oversight for unnecessary C-sections and address mental health issues related to pregnancy. The plan comes in response to rising infant mortality rates in the US and the disparities faced by Black women in maternal health. [Extracted from the article]

New York's legal cannabis market has generated over $150 million in sales in its first year, with 40 approved dispensaries selling 3.5 million units of cannabis. However, the slow rollout of legal cannabis, high taxes, and unclear regulations have made it challenging for legal businesses to compete with unlicensed retailers, which dominate the market. The state has taken steps to crack down on unlicensed sellers, conducting inspections and seizing products worth $56 million. Despite these challenges, the state expects to bring in $16.6 million in tax revenue from cannabis sales in the first half of 2024 and plans to issue more adult-use licenses. [Extracted from the article]

The IPO market in New York is expected to improve in 2024, although it had a decline in exits in 2023 compared to the previous year. The first companies to debut in 2024 will set the tone for the rest of the year, according to Aman Singh, a partner at Fenwick & West. There are 31 startups based in the New York metro area that are waiting to go public, with a combined valuation of over $106 billion and a total workforce of nearly 36,000 employees. The most common industries among these companies are enterprise technologies, financial services, and healthcare. Crypto firms are notably absent from the prediction due to regulatory pushback and declining asset value. However, there is excitement about the potential of AI in the IPO market. The outlook for 2024 is more promising, but investor optimism is tempered by disappointing debuts in 2023 and other uncertainties. Investors are shifting their assessment criteria for companies, focusing more on cost management and profitability rather than just growth. [Extracted from the article]

New York City is facing a significant migrant crisis, with over 157,000 asylum seekers entering the city since 2022. The city's obligation to care for these migrants has strained its budget, leading to multibillion-dollar cuts that will impact various aspects of daily life, such as library services and police academy classes. The city is seeking financial support from the state and federal governments, but has only received a fraction of the funds needed. Mayor Eric Adams has also called for a "decompression strategy" at the U.S.-Mexico border and the resettlement of migrants in upstate towns, but these requests have been met with resistance. The city is implementing spending cuts and considering raising taxes to address the budget gaps. There is also a debate about whether the city should weaken its longstanding right-to-shelter mandate, which has prevented homelessness but has contributed to high spending on migrants. The migrant crisis is expected to be a prominent issue in the upcoming elections, but it may also hinder bold decision-making by lawmakers. [Extracted from the article]

The Federal Reserve's decision to keep interest rates steady and project lower rates in 2024 has brought hope to New York's struggling office sector. The office market has been impacted by a series of interest rate hikes, making it difficult for landlords and tenants to secure financing and causing institutional capital to move out of the sector. However, the prospect of lower borrowing rates due to declining interest rates and inflation may benefit office landlords. Commercial real estate firm CBRE predicts that underperforming office buildings may be repurposed or converted as inflation eases and interest rates decrease. Despite this glimmer of hope, commercial sales, leasing, and new construction in the city have slowed, and office availability in Manhattan remains high. The slowdown in leasing is attributed to the adoption of hybrid work, and the trend is expected to continue this year. Overall, the office sector faces uncertainty and declining market values, but there have been some positive developments, such as large office leases and property sales in the second half of the year. The outlook for office sales and new construction may improve if interest rates decrease and institutional investors invest in real estate. However, initiatives to repurpose office buildings for other uses are unlikely to be viable for many commercial space owners in the city. [Extracted from the article]

The article discusses three potential solutions to address the crises facing New York City. The first solution is to aggressively build single-room occupancy (SRO) housing, which would provide affordable housing options and reduce street homelessness. The second solution is to add psychiatric beds and build new mental health hospitals to provide safe housing and access to effective medications for the mentally ill. The third solution is to let foreign experts run the Metropolitan Transportation Authority (MTA) to improve its efficiency and complete transportation projects in a timely manner. The article emphasizes the need for political will and action from government officials to implement these solutions and make New York a better place to live. [Extracted from the article]

Keywords: POWER BREAKFASTJames Whelan, president of the Real Estate Board of New York, offered his outlook for next year and dished on the state's elected leaders in a wide-ranging interview with Crain's New York Business in early December. He expects a soft landing for the economy, the Fed to start cutting interest rates and a gradual improvement for the office market. On the other hand, he's less optimistic about a much-needed boost for housing development, blaming legislators in Albany who he says don't grasp the urgency or mechanics of the issue. [Extracted from the article]

New York's Board of Education Retirement System (BERS) is facing criticism for its inefficiency and lack of oversight, highlighting the need for reform in the city's pension administration. BERS, responsible for the pensions of 60,000 school workers, has administrative costs of $35 million per year, higher than the police pension fund, which is five times larger. There have also been allegations of self-enrichment by BERS leadership, including a deceptive raise request and subsequent approval. The city's pension system as a whole is facing scrutiny for its increasing costs and outdated practices. The article proposes reforms such as consolidated oversight, increased transparency, leadership accountability, diverse expertise on pension boards, member education, and regulatory empowerment. The need for sweeping reform is emphasized to ensure the pension system serves its workers and avoids waste and corruption. [Extracted from the article]

New York City's comprehensive "New York City Artificial Intelligence Action Plan," announced by Mayor Eric Adams, has set the bar for AI ethics in the city. The plan, developed under the direction of the city's chief technology officer, Matt Fraser, aims to show how AI can be beneficial and work within ethical boundaries. It includes the development of AI-driven applications for various purposes, such as assisting small businesses and improving public health. The plan also provides a framework for city agencies to evaluate AI tools and associated risks, and it serves as a blueprint for businesses to follow. These local actions are expected to influence national AI regulation and set an example for the private sector. [Extracted from the article]

According to a consultant from the consulting firm Kaufman Hall, hospitals in the tri-state area and New York City are still struggling financially compared to the rest of the nation. The year-to-date median operating margin for hospitals in New York, New Jersey, and Connecticut was -3.1% in October. Despite an increase in patient volume, hospitals in the region are facing higher costs for labor and medical supplies, which have outpaced revenue growth. The shift to outpatient care settings is beneficial for hospitals with that footprint, but it poses a threat to those that don't have that capability. The consultant expects continued growth in 2024 but is cautious about predicting a full recovery due to ongoing labor expenses and competition from other healthcare settings. [Extracted from the article]

New York Governor Kathy Hochul has signed a bill into law that expands the rights of freelance workers in the state. The "Freelance Isn't Free" law requires employers to provide contracts for freelance work worth over $800 and make payments by the due date listed in the contract or within 30 days of completion. If employers violate the law, freelancers can file complaints with the state attorney general's office or seek damages worth double the amount owed. New York is the second state, after Illinois, to enact such protections for freelancers. The law has received support from labor groups and aims to address widespread complaints of late or missing payments. [Extracted from the article]

The City Council of New York has approved a package of zoning changes that aim to make it easier for property owners to implement green technologies. The changes include promoting the use of solar panels, offshore wind manufacturing, electric vehicle charging infrastructure, and the electrification of buildings. The goal is to reduce the city's carbon emissions by 80% by 2050. The zoning changes will open up opportunities for solar panel use on parking lots, increase the availability of electric vehicle charging, and make carbon-cutting retrofits easier for building owners. The measure has received support from environmental advocates and the business community. [Extracted from the article]

City lawmakers in New York have introduced bills to loosen restrictions on street vending, including eliminating criminal penalties for illegal selling and lifting caps on licenses. The proposed legislation would greatly expand on previous vending reforms, but it is facing opposition from storeowners, business improvement districts, and other groups who view street vendors as unfair competition and a source of sidewalk congestion and unsanitary conditions. The bills are supported by some council members, who argue that the current system is broken and that expanding licenses would allow the city to regulate an existing market. However, opponents are concerned about the lack of clear rules and enforcement. The support for the bills is mostly from left-leaning council members, and it is unclear how the package will fare overall. The stance of Mayor Eric Adams is also unknown at this time. [Extracted from the article]

The Princeton Club of New York, a prestigious membership club in Midtown, has been sold for $8 million after defaulting on a $39.3 million loan. The buyer, a shell company named 15 West 43rd Street LLC, now controls the club's real estate, a 9-story building with 58 guest rooms. The club, which suffered financial difficulties even before the pandemic, struggled to fill its rooms and lost members when Columbia University relocated its club a few years ago. Unlike other similar clubs, the Princeton Club did not receive financial support from Princeton University. [Extracted from the article]

James Whelan, president of the Real Estate Board of New York, expressed frustration with the state Legislature's lack of support for housing development in New York City. He highlighted the absence of a replacement program for the 421-a tax abatement, which has historically accounted for 70% of rental housing production in the city. Whelan also criticized the Legislature's push for "good cause" eviction legislation, warning that it could worsen conditions for renters and landlords and potentially increase homelessness. Despite Mayor Eric Adams' call for the development of 50,000 units annually, new construction has been slow, with only 6,542 new units filed from January to August. Whelan emphasized the importance of the state Legislature's actions in addressing the housing crisis. [Extracted from the article]

A report released by the Attorney General's office in New York reveals that 86% of mental health providers listed in health plan directories do not accept in-network patients, highlighting the limited access to mental health and substance use services in the state. The survey, which included 13 health plans, found that only 14% of listed behavioral health clinicians accepted appointments for in-network services, while the rest were either out-of-network, unable to take new patients, or unreachable. The report also emphasizes the high need for mental health care in New York, with one in five adults living with a mental illness, and calls for health plans to address this issue and help tackle the mental health care crisis. [Extracted from the article]