Common use of New Development Clause in Contracts

New Development. The Union and the RAB recognize (1) that real estate development strengthens communities and enhances New York’s economy; (2) that the economics of developments are complex and not uniform; and (3) that successful development is important to all stakeholders, and to the people of the City of New York. Therefore, the parties shall establish a sitting New Development Committee whose members shall determine, on a project-by-project basis, wage and benefit standards that accord with the needs of the parties and are consistent with applicable law for employees in newly constructed buildings. Any such standards shall be determined only upon the mutual agreement of the Union and the RAB. Any action or inaction of the committee shall not be reviewable in any forum. The committee shall be comprised of an equal number of persons appointed by the President of the Union and the President of the RAB.

New Development. The Union and the RAB recognize (1) that real estate development strengthens communities communi- ties and enhances New York’s economy; (2) that the economics of developments are complex and not uniform; and (3) that successful development devel- opment is important to all stakeholders, and to the people of the City of New York. Therefore, the parties shall establish a sitting New Development Committee whose members shall determine, on a project-by-project basis, wage and benefit standards that accord with the needs of the parties and are consistent with applicable law for employees in newly constructed buildingsbuild- ings. Any such standards shall be determined only upon the mutual agreement of the Union and the RAB. Any action or inaction of the committee shall not be reviewable in any forum. The committee shall be comprised of an equal number of persons appointed by the President of the Union and the President of the RAB.

New Development. The Union and the RAB recognize (1) that real estate development strengthens communities and enhances New York’s economy; (2) that the economics of developments are complex and not uniform; and (3) that successful development is important to all stakeholders, and to the people of the City of New York. Therefore, the parties shall establish a sitting New Development Committee whose members shall determine, on a project-by-by- project basis, wage and benefit standards that accord with the needs of the parties and are consistent with applicable law for employees in newly constructed buildings. Any such standards shall be determined only upon the mutual agreement of the Union and the RAB. Any action or inaction of the committee shall not be reviewable in any forum. The committee shall be comprised comprise of an equal number of persons appointed by the President of the Union and the President of the RAB. ARTICLE XIII Assents

New Development. The Union and the RAB recognize (1) that real estate development strengthens communities and enhances New York’s economy; (2) that the economics of developments are complex and not uniform; and (3) that successful development is important to all stakeholders, and to the people of the City of New York. Therefore, the parties shall establish a sitting New Development Committee whose members shall determine, on a project-by-by- project basis, wage and benefit standards that accord with the needs of the parties and are consistent with applicable law for employees in newly constructed buildings. Any such standards shall be determined only upon the mutual agreement of the Union and the RAB. Any action or inaction of the committee shall not be reviewable in any forum. The committee shall be comprised of an equal number of persons appointed by the President of the Union and the President of the RAB.

New Development. The Union and the RAB recognize (1) that real estate development strengthens communities and enhances New York’s economy; (2) that the economics of developments are complex and not uniform; : and (3) that successful success- ful development is important to all stakeholders, and to the people of the City of New York. Therefore, the parties shall establish a sitting New Development Develop- ment Committee whose members shall determine, on a project-by-project basis, wage and benefit standards ▇▇▇▇- dards that accord with the needs of the parties and are consistent with applicable law for employees in newly constructed buildings. Any such standards shall be determined only upon the mutual agreement of the Union and the RAB. Any action or inaction of the committee shall not be reviewable in any forum. The committee shall be comprised comprise of an equal number of persons appointed by the President Business Manager of the Union and the President of the RAB.

New Development. The Union and the RAB recognize (1) that real estate development strengthens communities and enhances New York’s economy; (2) that the economics of developments are complex and not uniform; and (3) that successful development is important to all stakeholders, and to the people of the City of New York. Therefore, the parties shall establish a sitting New Development Committee whose members shall determine, on a project-by-project basis, wage and benefit standards that accord with the needs of the parties and are consistent with applicable law for employees in newly constructed buildings. Any such standards shall be determined only upon the mutual agreement of the Union and the RAB. Any action or inaction of the committee shall not be reviewable in any forum. The committee shall be comprised of an equal number of persons appointed by the President of the Union and the President of the RAB.

New Development. The Union and the RAB recognize (1) that real estate development strengthens communities and enhances New York’s economy; (2) that the economics of developments are complex and not uniform; : and (3) that successful development is important to all stakeholders, and to the people of the City of New York. Therefore, the parties shall establish a sitting New Development Committee whose members shall determine, on a project-by-project basis, wage and benefit standards that accord with the needs of the parties and are consistent with applicable law for employees in newly constructed buildings. Any such standards shall be determined only upon the mutual agreement of the Union and the RAB. Any action or inaction of the committee shall not be reviewable in any forum. The committee shall be comprised comprise of an equal number of persons appointed by the President Business Manager of the Union and the President of the RAB.