Int 0707-2011

Be it enacted by the Council as follows: Section 1. Chapter 1 of title 6 of the administrative code of the city of New York is amended by adding a new section 6-133 to read as follows: § 6-133. Notification of project cost increases. a. For the purposes of this section, “agency” means a city, county, borough, or other office, position, administration, department, division, bureau, board or commission, or a corporation, institution or agency of government, the expenses of which are paid in whole or in part from the city treasury. b. If an agency that has entered into a contract for construction and/or services with a maximum expenditure of more than ten million dollars in connection with a project included in the capital budget enters into a contract modification or extension that results in a total revised maximum expenditure that exceeds the original contract maximum expenditure by twenty percent or more, the mayor shall notify the council of such contract modification or extension, including details of the basis for and scope of the estimated additional costs. c. Once such notification has been provided for a contract, any additional modifications or extensions of such contract that increase the maximum expenditure more than ten percent over the total revised maximum expenditure shall trigger new notification to the council. d. Notifications pursuant to this section shall be provided on a quarterly basis sorted by project within forty-five days of the end of the calendar quarter within which the comptroller registered such contract action. §2. This local law shall take effect ninety days after its enactment into law. SKM/ASP LS #1880 2/17/12