CNY numbers mixed

New York realtors sold more than 1,500 previously owned homes on uly, down 7.4 percent from the nearly 12,500 homes sold in July 2016.

That’s according to the latest housing-market report from the New York State Association of Realtors (NYSAR).

“July home sales were typically strong and likely would have been higher except for the ongoing decline in the number of homes for sale,” Duncan MacKenzie, CEO of NYSAR, contended in a news release. “Newly listed homes are moving quickly and multiple purchase offers are becoming more common. These conditions have driven growth in the statewide median sales price to near record levels.”

The NYSAR data indicates that housing inventory stood at 72,316, a decrease of 12.9 percent compared to July 2016.

MacKenzie contends the housing market “should remain active” through the balance of the year, citing “steady” employment levels and consumer confidence and mortgage rates that are “still low.”

“We project that sales will be near the 2016 record, but will continue to be constrained by the low number of homes listed for sale,” said MacKenzie.

Sales data

The year-to-date (Jan. 1 through July 31) home sales total of 70,928 was 2.3 percent above the same period last year.

The statewide median sales price of $270,000 is up 8.4 percent from a year ago.

Pending sales in July rose 3 percent from a year ago to reach 12,568.

The months’ supply of homes for sale dropped 15.8 percent at the end of July to 6.4 months’ supply. It stood at 7.6 months at the end of July 2016. NYSAR considers a 6 month to 6.5 month supply a balanced market. 

Central New York data

In the 16-county region of Central New York, realtors sold 1,598 existing homes in July, up 0.4 percent from 1,592 a year earlier. 

Realtors in Broome County sold 161 homes in July, down nearly 2 percent from 164 a year ago, according to the NYSAR report. The median sales price increased about 19 percent to nearly $125,000 from more than $105,000 a year ago.

In Jefferson County, realtors closed on 105 homes in July, up 4 percent from 101 a year ago, and the median sales price increased more than 1 percent to nearly $140,000 from $138,000 in July 2016, according to the NYSAR data.

NYSAR also reports that realtors sold 168 homes in Oneida County last month, down more than 9 percent compared to the 185 sold during July 2016. The median sales price rose about 11 percent to nearly $140,000 from more than $126,000 a year ago.

Realtors in Onondaga County sold 511 previously owned homes in July, a sales decrease of nearly 6 percent compared to the July 2016 total of 542. The median sales price edged up 0.3 percent to $145,500 from $145,000 a year ago, according to the NYSAR report.

All home-sales data is compiled from multiple-listing services in New York state and it includes townhomes and condominiums in addition to existing single-family homes, according to NYSAR.

UTICA — ConMed Corp. (NASDAQ: CNMD), a Utica–based surgical-device maker, recently announced that its board of directors has declared a cash dividend of 20 cents a share for the latest quarter. 

The dividend is payable on Oct. 5 to shareholders of record as of Sept. 15, according to a company news release. 

At its current stock price, the dividend yields 1.6 percent on an annual basis.

ConMed specializes in surgical devices and equipment for minimally invasive procedures. The company’s products are used by surgeons and physicians in a variety of specialties, including orthopedics, general surgery, gynecology, neurosurgery, and gastroenterology. 

The firm has a direct-selling presence in 17 countries and international sales account for about half of its total sales. Headquartered in Utica, ConMed employs about 3,300 people worldwide.

ConMed generated more than $197 million in sales in the second quarter, up nearly 2 percent from the year-ago period. 

Answering some common employer questions

The New York Workers’ Compensation Board on July 19 published its final regulations implementing the New York Paid Family Leave Law (PFL).

Now that the regulations are final, employers should be modifying existing leave policies and processes to incorporate PFL requirements, and to develop new PFL policies that provide employees with information about their rights and obligations under the law. 

We held a webinar on New York’s PFL on July 25, in which we received hundreds of questions. While we didn’t have the opportunity during the webinar to address all the inquiries that we received, we noted afterwards that many employers raised the same questions. Accordingly, this article is dedicated to answering some of the most frequently asked questions we received. We hope this follow-up will be helpful to employers in preparation for the launch of PFL in 2018.

This batch of questions and answers focuses on which employers are and are not covered. We also answer your questions about what certain exempt employers (i.e., those who are not required to have PFL coverage) must do in order to opt in for voluntary PFL coverage. In fact, certain exempt employers have an obligation to make a decision by Dec. 1, as to whether to opt in for PFL coverage and will be required to report their decision to the New York State Workers Compensation Board (WCB).

Q: Are there any employers in New York that are not covered by PFL?

A: Yes. In light of the fact that PFL is intended to piggy back onto the Disability Benefits Law (DBL), it applies to any entity considered a covered employer under DBL. While all private-sector employers in New York that have one or more employees are subject to and must comply with DBL, and now PFL, the same exclusions as to who is a “covered employer” apply. Thus, employers exempt from DBL are also exempt from PFL. PFL does not apply to public-sector employers, including the state, any political subdivision of the state, a public authority, or any other governmental agency or instrumentality. This exemption applies to cities, villages, towns, public libraries, public authorities, municipalities, fire districts, water districts, and school districts.

A few others who are not required to provide PFL benefits include owners/shareholders of a corporation with no employees, owners/shareholders of partnerships, LLCs, LLPs with no employees, individuals who employ personal or domestic workers that work less than 40 hours per week, Native American enterprises (i.e., casinos), self-employed individuals, or sole proprietors and members of an LLC/LLP.

Q: Can public-sector employers choose to be covered under the PFL law?

A: Yes. The PFL regulations lay out the process a public employer must follow if it elects to opt in. The process is slightly different for unionized and non-unionized employers. If a public employer chooses to cover its non-unionized workers, it must provide 90 days’ notice of its decision to opt in. The notice must tell employees that the payroll deduction will not exceed the maximum amount allowed by law.

Not surprisingly, in order for a public employer to cover its employees who are represented by a union, it must engage in collective bargaining and obtain the agreement of the union. Once an agreement is reached, the employer must notify the WCB for approval.

Notably, public employers are the only employers who can elect to provide DBL only, PFL only, or both DBL and PFL coverage. Public employers who elect to provide PFL must maintain it for at least one year. Prior to discontinuing voluntary PFL coverage, the public employer must provide 12 months’ written notice to the WCB and the affected employees. Those employers will also need to have made provisions for the payment of any benefits incurred on and prior to the effective termination date of such benefits.

Q: Are public-sector employers who are already providing voluntary DBL coverage required to also provide PFL?

A: No. However, public-sector employers that currently provide voluntary DBL to their employees must notify their employees and the WCB whether they will (or will not) be providing PFL to their employees. They must make this decision and report it to the WCB by Dec. 1.           

Christa Richer Cook and Kristen Smith are labor and employment law attorneys at Bond, Schoeneck & King, PLLC in Syracuse. This viewpoint article is drawn from the firm’s New York Labor & Employment Law Report blog. Contact Cook at ccook@bsk.com and Smith at ksmith@bsk.com

ULYSSES — The Town of Ulysses in Tompkins County is the first town in the Southern Tier to earn the designation as a “clean-energy community.”

The moniker recognizes its “leadership in reducing energy use, cutting costs and driving clean energy in its communities,” according to a NYSERDA news release. NYSERDA is the New York State Energy Research and Development Authority.

The announcement came more than four months after NYSERDA announced that Tompkins County was the first county in the Southern Tier to also earn the designation. In addition, Lt. Gov. Kathy Hochul recognized Binghamton as the first city in the Southern Tier to receive the label during her appearance at the Aug. 16 announcement of the winners in the 76West clean-energy competition.

Earning designation

The Town of Ulysses earned the designation for completing four of 10 “high-impact,” clean-energy actions that NYSERDA identified as part of the clean-energy communities initiative. Those actions included participation in a community-based Solarize Tompkins campaign to reduce solar-project costs through joint purchasing.

Ulysses also completed energy code-enforcement training on “best practices” in energy code enforcement for code-compliance officers and other municipal officials.

The community “streamlined” its local approval processes for solar projects through adoption of the New York State Unified Solar Permit.

Ulysses also “benchmarked” energy use of the town’s municipal buildings.

In addition, the designation gives the Town of Ulysses an opportunity to apply for up to $100,000 in funding toward additional clean-energy projects, “with no local cost share,” according to NYSERDA.

“Working toward clean-energy community designation emphasized the importance of collaboration, strong partnerships, and a willing staff,” Elizabeth Thomas, supervisor of the Town of Ulysses, said in the release. “As a small community with few resources, we found the support of the Clean Energy Community coordinator was immensely valuable in taking the time to guide us and provide answers to our questions. Our town is committed to reducing reliance on fossil fuels to help stem the causes of climate change by demonstrating that small municipalities can become clean-energy communities, too.”

How to earn it

NYSERDA listed additional clean-energy action items that communities can take to earn the designation.

They include performing energy-efficiency and renewable-energy upgrades to municipal buildings.

Communities can also convert streetlights to energy efficient LED (light-emitting diode) technology. 

Municipalities can establish an Energize NY finance program that enables “long-term, affordable” property-assessed clean-energy financing for energy efficiency and renewable-energy projects at commercial buildings and nonprofits.

They can also earn climate-smart communities certification through the New York State Department of Environmental Conservation for developing a program to reduce their carbon footprint and improve the environment.

Communities can install electric-vehicle charging stations and use alternative-fuel vehicles, such as hybrid and electric cars, for municipal businesses.

Cities, counties, towns, and villages that complete at least four of 10 “high-impact,” clean-energy actions are designated clean-energy communities.

They are eligible to apply for funding of up to $250,000 with no local cost share with the option of receiving up to 25 percent paid in advance to support additional clean-energy projects. 

Those with fewer than 40,000 residents are eligible to apply for up to $100,000 in funding. 

At least two of the four actions must have been completed after Aug. 1, 2016. 

NYSERDA is accepting applications for funding on a rolling basis through Sept. 30, 2019 or until funds are exhausted, whichever comes first. 

Funds are provided through the clean-energy fund and the regional greenhouse-gas initiative, NYSERDA said.

About the program

Announced by Gov. Cuomo in August 2016, the $16 million clean-energy communities initiative supports local-government leaders statewide in their effort to implement energy efficiency, renewable energy, and sustainable-development projects in their communities. 

Clean-energy communities advances Cuomo’s “Reforming the Energy Vision” initiative by “demonstrating the importance of local governments and communities in helping New York reach its clean-energy standard mandate requiring 50 percent of the state’s electricity to come from renewable-energy resources by 2030.”