Overview
New York State’s Section 485-x, part of the Affordable Neighborhoods for New Yorkers (ANNY) program, provides valuable property tax exemptions for new residential developments throughout the New York Metropolitan area. While these incentives can offer significant benefits, navigating the complex rules and requirements can be challenging.
Anchin’s Regulatory Compliance & Investigations (RCI) team works closely with developers and property owners leading affordable housing projects to provide the insight, strategy, and oversight needed to successfully meet the requirements of Section 485-x with confidence and clarity.
Our service offering includes proactive wage tracking and reporting to help construction projects comply with the program’s minimum average hourly wage requirements and avoid costly compliance issues. Anchin’s compliance process identifies potential gaps early on—empowering clients to make informed decisions regarding wage adjustments and enabling them to maintain compliance throughout the life of the project.
Wage & Benefit Tracking for Section 485-x Compliance
To streamline the compliance process, our RCI professionals have developed electronic tracking systems that capture detailed wage and benefit information from every contractor on a project. Key components of our process include:
- Collecting monthly payroll reports from all contractors
- Conducting detailed review and analysis of wage and hour data
- Generating comprehensive reporting for clients
- Utilizing Huddle, a secure digital platform for collecting, organizing, and managing certified payroll documentation
This technology-driven approach ensures a seamless and transparent experience for all parties involved—including owners, developers, and contractors.
Serving the Public Sector with Confidence
Clients doing business with the public sector or government entities must navigate complex regulatory environments, balancing federal, state, and local requirements. Anchin’s RCI team combines its public sector experience with extensive knowledge of construction and tax law to guide clients through this landscape with confidence.
Whether conducting integrity monitoring, overseeing compliance reporting, or supporting forensic investigations, our team offers the skills, systems, and insight necessary to ensure compliance and protect our clients’ interests.
Our Services
The types of matters we specialize in include:
- Payroll and regulatory compliance reviews and monitoring
- Labor compliance monitoring
- Construction monitorships
- Monitoring for Departments of Economic Development to detect fraud, enhance compliance, and drive accountability and transparency
- Corporate integrity monitorships
- MWBE/DBE/SBE compliance, certification, and outreach programs
- Independent forensic analysis of MWBE/DBE/SBE compliance data
- Construction audits and fraud investigations
