NEW YORK (AP / CBSNewYork) — A City Council stalemate over a so-called living wage bill has ended with a deal that could raise the pay for several hundred workers a year at city-subsidized developments.

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City Council Speaker Christine Quinn announced the deal Friday along with political officials and union and business representatives.

The original bill would have raised pay to at least $10 an hour for employees of tenants at city-subsidized developments, as well as for employees of the developers themselves.

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The compromise legislation would raise wages only for employees of companies directly receiving subsidies.

It would have to be approved by the mayor.

The legislation would also pave the way for a possible expansion of the policy later on.

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