Union Labor Requirements
Projects in which the Trust invests must first and foremost meet financial and economic criteria and any specific underwriting criteria, which may be established from time to time by the Trustee. From among those investments that satisfy the BIT’s investment objectives and criteria, the Trustee selects investments that advance the Labor Policy. Provisions of the Labor Policy provide, in part, the following:
- in connection with debt and equity investment, all on-site construction work and tenant improvement work shall be performed by workers who are represented by unions affiliated with the Building and Construction Trades Department, AFL-CIO, and all such work shall conform to traditional craft jurisdictions as established in the area;
- in connection with equity and equity-like investments, certain types of facilities, including but not limited to hotels, grocery stores, and parking facilities, shall be serviced by a workforce that is already organized by a union or unions affiliated with the AFL-CIO or be subject to appropriate neutrality and card check recognition arrangements; and
Please contact the AFL-CIO Investment Trust Corporation for further information regarding the BIT's labor policies.
- in connection with equity and equity-like investments, the operation, repair and maintenance of facilities shall be serviced by contractors whose employees are represented by AFL-CIO affiliated unions, so long as such contractors are reasonably available in the market or, in the event that the manager chooses to provide such services directly (exclusive of building trades work), and its employees providing such services are not within a collective bargaining unit represented by an AFL-CIO affiliated union, then the manager shall enter into with applicable union the appropriate neutrality and card check recognition agreements.