Categories: Federal
04.05.2022
In January of 2022, the Network, in collaboration with ANHD, NYSAFAH and LiveOn, offered joint recommendations to HDC and HPD for inclusion in the 2022 M&O Standards for New Construction. The Network is pleased to share that several of the recommendations have been adopted into the finalized schedule.
Overall, the new standards increased 10.15% over 2021.
Of note,
- Utilities including heating, electricity and water and sewer increased almost 7%
- Project Managers are directed to include broadband and underwrite to an actual quote
- Fire and liability insurance increased 26%
- Project managers are directed to underwrite to an actual quote whenever possible.
- Union super and maintenance salaries increased 14%
- Non-union super and maintenance salaries increased 28%
- Building reserves increased 17%
This new standard will be effective for all new construction projects underwritten on or after April 1, 2022.
Thank you to our members for their ongoing support in raising M&O Standards and to HPD and HDC for the collaborative effort. We will continue to collect information on M&O costs and advocate for adjustments to future schedules. Please contact Moira McComas with any questions or comments: mmccomas@shnny.org.