Christine Quinn announces a deal on living wage agreement, with details to come

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Appelbaum, Oliver Koppell, Ruben Diaz Jr. and Wylde. (Dana Rubinstein)
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In a press release sent out at 7:50 p.m. on Wednesday, City Council speaker Christine Quinn announced a deal on a controversial "living wage" bill.

The statement, copied below, doesn't offer any details about the provisions inside the legislation, which is supposed to require some recipients of city economic development initatives to pay their employees at least $10 an hour. 

In January, Quinn joined the bill's main proponent, Retail, Wholesale and Department Store Union president Stuart Appelbaum, and one of its main critics, Partnership for New York City C.E.O. Kathryn Wylde, to announce an agreement on the long-disputed bill. 

According to that agreement, the living wage bill would apply only to the direct recipients of economic development subsidies, not their retail tenants, which had been a main point of contention.

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It would require recipients of more than $1 million in subsidies and with annual revenues of more than $5 million, to pay their employees $10 with health benefits or $11.50 without. It was estimated to impact fewer than 1,000 New Yorkers.

Last month, the news emerged that Quinn was considering granting an exemption to a portion of the Hudson Yards project, which is being developed by Related Companies, which has donated more than $30,000 to her campaign.

It is unclear whether that exemption remains.

Here's the release:

Statement by Speaker Christine C. Quinn Re: Completion of Living Wage Bill

"We have completed negotiations on the living wage bill. Based on the breadth and depth of New York City's Economic Development program, this will be the most impactful living wage law in the United States.

This bill was based on a concept of fairness. Businesses that accept significant taxpayer dollars must pay a living wage.

Because this bill was modified to only cover direct recipients of financial assistance, we believe it will lift wages without hampering job growth and economic development in New York City."