INDEXATION OF CONSTRUCTION COSTS TO INFLATION
In accordance with the rules and text for Local Law 86 of 2006, the Director of the Mayor’s Office of Environmental Coordination is required, each year, to publish the indexation of construction costs to inflation, where such is defined as the annual twelve month average of the consumer price index published by the United States Department of Labor. In accordance with this requirement, these inflation rates have been determined as follows:

Calendar Year 2009
For the year beginning January 1, 2009, this inflation factor shall be 3.8% above the inflation adjusted costs of the previous calendar year.

Calendar Year 2008
For the year beginning January 1, 2008, this inflation factor is 2.8%.