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 Upcoming Seminars
What To Do When Construction Projects Go Bad, by Stephen Winkles, Esq., March 17, 2009, Parsipanny, NJ
New Jersey's Lien Laws: Update 2009,
by Steven Cohen, Esq., April 21, 2009,
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The Federal Stimulus Package: Effects on the Construction Industry New York and New Jersey's hard-hit economies will get a jolt of cash from the federal stimulus bill approved in February. New Jersey is in line to receive around $1 billion in infrastructure money that's likely to be spent quickly. It has been reported in the press and by some economists that the construction trades - which have been hit hard in New Jersey - will see about a 17 percent boost from the stimulus spending. While that figure is an estimate, it is good news for an industry that has seen projects put on hold or cancelled.
Construction projects throughout New York from highways and bridges to transit systems and firehouse renovations are now being sorted out for funding under the federal stimulus package. The stimulus package approved by Congress is expected to create and keep construction related jobs, as well as provide tax breaks for construction companies. Gov. Paterson said there are 1,900 "shovel ready" construction projects that could be started within weeks using federal money. About $1.2 billion is expected to go to New York City transit, $1.25 billion for mass transit and $1.1 billion for highways and bridges. State officials estimate that for each $1 billion of this aid, 10,000 construction and permanent jobs could be created.
If you are interested in bidding for work at the State and local level, you must be registered and properly classified by the State in which you are placing the bid. For more information on how to become eligible to compete for public works construction contracts in New Jersey, visit http://www.state.nj.us/treasury/dpmc/pub_how_to_do_business_with_division.html; for New York, information can be found at http://www.ogs.state.ny.us
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 New Legislation on Energy Conservation
The new legislation applies to virtually all New Jersey public entities including public school districts and the New Jersey Schools Development Authority, municipal, county and state government, public colleges and universities. The legislation allows public entities to contract with an energy savings company (ESCO) for energy conservation improvements. Those contractors in a major specialty trade such as HVAC and plumbing must be DPMC classified and rated. The ESCO's can be either a consultant to the public entity, a CM, or a general contractor. The format for bidding will depend on the ESCO's role in the particular project. | |
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In This Issue
Federal Stimulus Package: Effects on the Construction Industry
New Legislation on Energy Conservation |
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About Our Law Firm
Whether a client is a large corporation or an individual we offer personal, quality service, for cost-effective fees. Our client base is as diverse as the services we offer; representing contractors, design professionals, and owners with construction related concerns. These include experience and expertise in negotiation and drafting construction and design contracts, construction litigation, arbitration, and alternative disputre resolution (ADR). If you would like more information, please call or email us. You can also visit our website at: www.tessercohen.com
New Jersey Office:
946 Main Street
Hackensack, NJ 07601
Phone: 201-343-1100
New York Office:
591 Broadway
New York, NY 10012
Phone: 212-226-1900 | |
