Participation of minority-and women-owned business enterprises in construction projects related to properties receiving tax benefits in accordance with the industrial and commercial abatement program.

A Local Law to amend the administrative code of the city of New York, in relation to the participation of minority-and women-owned business enterprises in construction projects related to properties receiving tax benefits in accordance with the industrial and commercial abatement program

This bill would amend Local Law 67 of 2008, governing participation of minority-and women-owned business enterprises (M/WBEs) in construction projects receiving benefits under the Industrial and Commercial Abatement (ICAP) program. It would: 1) lower the project cost threshold requiring ICAP applicants to directly solicit M/WBEs to work on the project from $1.5 million to $750,000; 2) require applicants to inform the Department of Small Business Services (SBS) after it has received a final ICAP award of contracting and subcontracting opportunities at the applicable site as they arise; and 3) require all applicants to submit certifications of compliance with M/WBE program requirements to SBS, in addition to the Department of Finance, along with the final application for benefits.