REMARKS
Council member addresses changes made to the bill based on lender feedback
2:00:14
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56 sec
Council Member Julie Menin explains the changes made to Intro 991-B in response to feedback from lenders and the hotel industry. She highlights the removal of service disruption as grounds for license denial and modifications to the subcontracting ban.
- Removed service disruption as grounds to rescind or deny licenses
- Narrowed subcontracting ban by removing F&B, security, and engineering
- Added 20 additional categories and grandfathered in existing subcontracting
- Worked closely with the lending community and New York Hotel Association
Julie Menin
2:00:14
Let me just say a couple comments on this.
2:00:16
We met with numerous lenders about this bill.
2:00:19
That is why you see significant changes to the bill.
2:00:23
One of the comments that we heard from the lending community is that service disruption on the original version of the bill.
2:00:30
There was a feeling could constitute grounds to rescind or deny the license as a result of that.
2:00:35
We made a very clear edit to remove service disruption as any ground to send or deny the license.
2:00:43
We also, as you know, have narrowed the subcontracting ban to remove FNB.
2:00:48
There was a comment about that.
2:00:50
To remove security, to remove engineering, to add 20 additional categories, to grandfather and subcontracting.
2:00:57
So we are very cognizant and worked very closely with the lending community on those changes as well as obviously the New York Hotel Association.
2:01:06
So greatly appreciate your comments today, and thank you so much for testifying.
