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• Exempt projects utilizing conduit revenue bonds from prevailing wage requirements. <br />• Exempt projects that received final approval by May 31, 2024 from prevailing wage requirements. <br />• Include protections for workers from retaliation for filing a complaint. <br />• Enable the payment of restitution to workers. <br />• Include additional language regarding how to manage projects with mixed funding sources (federal <br />government, state government, City or EDA funds, private financing, etc.). <br />Primary Issues/Alternatives to Consider: <br />1. Approve the ordinance as presented. <br />2. Approve the ordinance with modifications. <br />3. Deny the ordinance keeping the existing regulations in place. <br />Budgetary/Fiscal Issues: <br />In between the first and second reading of this proposed ordinance, staff have had the chance to further evaluate <br />potential implementation costs. While market forces may assist in keeping costs down in some cases, the <br />development community and colleagues in other municipalities have suggested project costs could increase as <br />much as ten to twenty percent due to increased labor expenses associated with prevailing wage. There are also <br />expenses and staffing requirements associated with maintaining certified payroll for compliance/reporting that <br />may not be possible for small companies. This cost dynamic may impact future subsidy requests from <br />developers. In addition, future projections in the City's Capital Improvement Plan document may be adjusted, <br />and changes in scope for future capital projects may be required. <br />As with any ordinance, City staff must be fully equipped to implement associated regulations, and as a result, <br />there will be costs to support the implementation of this ordinance. Staff are in the process of finalizing interim <br />and long-term solutions to assist with both the planning of prevailing wage projects as well as any connected <br />investigative or enforcement activities. These solutions will likely come in the form of contractual agreements <br />with outside parties that can provide the necessary expertise to ensure staff, contractors, and workers are all <br />aligned in their understanding of expectations. <br />Attachments: <br />7.1A ORDINANCE <br />