§ 224-a. Prevailing wage requirements applicable to construction\nprojects performed under private contract. 1. Subject to the provisions\nof this section, each "covered project" as defined in this section shall\nbe subject to prevailing wage requirements in accordance with section\ntwo hundred twenty and two hundred twenty-b of this article. A "covered\nproject" shall mean construction work done under contract which is paid\nfor in whole or in part out of public funds as such term is defined in\nthis section where the amount of all such public funds, when aggregated,\nis at least thirty percent of the total construction project costs and\nwhere such project costs are over five million dollars except as\nprovided for by section two hundred twenty-four-c of this article.\n 2. For purposes of this section, "paid for in whole or in part out of\npublic funds" shall mean any of the following:\n a. The payment of money, by a public entity, or a third party acting\non behalf of and for the benefit of a public entity, directly to or on\nbehalf of the contractor, subcontractor, developer or owner that is not\nsubject to repayment;\n b. The savings achieved from fees, rents, interest rates, or other\nloan costs, or insurance costs that are lower than market rate costs;\nsavings from reduced taxes as a result of tax credits, tax abatements,\ntax exemptions or tax increment financing; savings from payments in lieu\nof taxes; and any other savings from reduced, waived, or forgiven costs\nthat would have otherwise been at a higher or market rate but for the\ninvolvement of the public entity;\n c. Money loaned by the public entity that is to be repaid on a\ncontingent basis;\n d. Credits that are applied by the public entity against repayment of\nobligations to the public entity; or\n e. Benefits under section four hundred sixty-seven-m of the real\nproperty tax law.\n 3. For purposes of this section, "paid for in whole or in part out of\npublic funds" shall not include:\n a. Benefits under section four hundred twenty-one-a of the real\nproperty tax law;\n b. Funds that are not provided primarily to promote, incentivize, or\nensure that construction work is performed, which would otherwise be\ncaptured in subdivision two of this section;\n c. Funds used to incentivize or ensure the development of a\ncomprehensive sewage system, including connection to existing sewer\nlines or creation of new sewage lines or sewer capacity, provided,\nhowever, that such work shall be deemed to be a public work covered\nunder the provisions of this article;\n d. tax benefits provided for projects the length or value of which are\nnot able to be calculated at the time the work is to be performed;\n e. tax benefits related to brownfield remediation or brownfield\nredevelopment pursuant to section twenty-one, twenty-two, one hundred\neighty-seven-g or one hundred eighty-seven-h of the tax law, subdivision\nseventeen or eighteen of section two hundred ten-B of the tax law,\nsubsection (dd) or (ee) of section six hundred six of the tax law, or\nsubdivision (u) or (v) of section fifteen hundred eleven of the tax law;\n f. funds provided pursuant to subdivision three of section\ntwenty-eight hundred fifty-three of the education law;\n g. any other public monies, credits, savings or loans, determined by\nthe public subsidy board created in section two hundred twenty-four-c of\nthis article as exempt from this definition; and\n h. benefits under section four hundred eighty-five-x of the real\nproperty tax law.\n 4. For purposes of this section "covered project" shall not include\nany of the following:\n a. Construction work on one or two family dwellings where the property\nis the owner's primary residence, or construction work performed on\nproperty where the owner of the property owns no more than four dwelling\nunits;\n b. Construction work performed under a contract with a not-for-profit\ncorporation as defined in section one hundred two of the no
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