Now that the Prevailing Wage bill has been signed into law by Gov. Hochul, how are coops and condos with live-in supers planning to deal with this? In many buildings (including ours), a significant part of the super's compensation is a rent-free apartment. But non-cash compensation seems unlikely to satisfy the requirements of the new law, especially when no explicit value has been placed on it. I have not heard any guidance on this so far. Thoughts?
One possibility - assuming it passes legal muster (I'm not a lawyer) - would be to make the rental value explicit by charging the super rent while paying a higher salary to cover that rent, meeting the requirements of the new law. This would of course be burdensome and ludicrous for everyone.
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