City Council Looks to Lower Local Law 97 Fines for Co-ops and Condos
A bill proposed by Queens Councilwoman Linda Lee was put before the New York City Council related to the fines that will be imposed on non-compliance with required emission reductions as part of Local Law 97. The series of escalating carbon caps to reduce greenhouse gas emissions mandated for buildings larger than 25,000 square feet would soften the penalties and emissions requirements for co-op and condo buildings if passed;” and would require a “significant rewrite of Local Law 97.” According to reported statements by Councilwoman Lee, “her eastern Queens district [District 23] has the largest number of co-ops and condos in the city,” and a rewrite of the law would “impact 10% of the 50,000 buildings covered by the climate law” that could face fines of “$268 per ton of emissions over the limit.” As determined by the New York City Department of Buildings (DOB) which does not support the proposed Intro 772 bill, “co-op and condo buildings where the average assessed value of a unit is $65,000 or less would be exempt from fines between the years 2030 and 2035, according to the bill text. Fines for those buildings would be halved between 2046 and 2040 and slashed by 25% from 2041 through 2045.” In addition, further increasing the amount of carbon those buildings are allowed to emit would be the inclusion of “gardens and other green spaces as part of their square footage when calculating their emissions limits” under the bill. Along the DOB, City Comptroller Brad Lander and Public Advocate Jumanne Williams are among those that have expressed opposition to a “watered down” version of the law that will only take our city backwards, as well as Food and Water Watch, a Washington, D.C.-based NGO organization that advocates for climate-friendly policies. There appears to be certain inequity between rental buildings compared to condominium and co-operative buildings giving rise to the question of whether Intro 772 has the best interest of New York City residents at large or just another example of a political strategy since it appears to favor owners over renters.
Source: https://www.crainsnewyork.com/climate/local-law-97-fines-co-ops-condos-slashed-city-council-bill