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NYC CO-OP OWNERS, COVERING OVER 800K APARTMENTS, REBEL AGAINST MASSIVE CLIMATE
LAW COSTING MILLIONS

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Published April 30, 2023
Updated April 30, 2023, 8:07 p.m. ET
Co-Op, Condo owners campaign to lessen blow of Green Mandate

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MORE ON: CLIMATE CHANGE


 * MAYOR ADAMS EYES NYC PROPERTY TAX BREAKS AS CO-OPS, CONDOS FACE CRUNCH FROM
   ‘GREEN’ MANDATE


 * BIDEN HIDES HIS CLIMATE AGENDA —FROM CONGRESS AND VOTERS


 * JANUARY 2024 WAS HOTTEST FIRST MONTH OF ANY YEAR IN HISTORY, EU SCIENTIST
   WARNS


 * I’M SUING JOHN KERRY TO MAKE HIS SHADOWY CLIMATE OFFICE ACCOUNTABLE

Middle-class co-op and condo building owners covering 800,000-plus apartments
are rebelling against a massive city climate mandate — a green tax they claim
will substantially hike housing maintenance bills to either pay for millions of
dollars in upgrades or face gigantic fines beginning next year.

Homeowners for a Stronger New York is battling the terms of the city’s Climate
Mobilization Emissions Law  of 2019 — Local Law 97 — by next year while backing
state legislation introduced by state Assemblyman Ed Braunstein (D-Queens) and
Sen. Kevin Parker (D-Brooklyn) to require the city to provide property tax
breaks to help alleviate the costs.

While supporting the goal of the Climate Change law, co-ops and condo owners
said they need assistance to meet the new cleaner energy standards in what they
called the “largest unfunded mandate in New York City history.”

The law is more stringent than Gov. Kathy Hochul’s ban on gas stoves, which only
applies to new construction.

The city law covers existing buildings, which account for two-thirds or most of
the carbon emissions in the city.

The group is launching a six-figure digital and TV ad and mailing campaign
urging elected officials that New York can have “affordability and
sustainability” — targeting 18 Assembly districts in Manhattan, Brooklyn, Queens
and The Bronx with a concentration of co-ops and condos likely to face the
steepest fines.

4
Gov. Kathy Hochul’s ban on gas stoves only applies to new construction. Getty
Images for Concordia Summit

Co-op and condo owners also want a fair appeals process to challenge the
estimated $200 million in fines that could be levied next year.

They’ve gained an important ally — Queens Borough President Donovan Richards —
who backs Local Law 97 but agrees middle and working class co-op and condo
owners need tax relief in order to comply with the law.

“Co-ops and condos have a legitimate gripe. It’s very important that we don’t
want to exacerbate the affordable housing crisis,” Richard told The Post on
Sunday.

“Something needs to be done to relieve the pressure on these middle class
homeowners. The costs of any fines will be passed on to the shareholders. We
don’t want to see mortgage foreclosures.”

Richards said he’s had preliminary discussions with Mayor Eric Adams’
administration about providing tax relief to help co-ops and condos adhere to
the law.

4
Queens Borough President Donovan Richards backs Local Law 97 but agrees middle
and working class co-op and condo owners need tax relief. ZUMAPRESS.com/Edna
Leshowitz

The law sets limits on the greenhouse gas emissions of buildings starting in
2024 to help New York City reach the goal of a 40 percent reduction in
greenhouse gas emissions from buildings by the year 2030 and 80 percent
reduction in citywide emissions by calendar year 2050.

It requires buildings with more than 25,000 square feet to replace their old
heating oil and natural gas boilers and switch to electric heat so as to cut
down on greenhouse gas emissions. 

One study conducted for the Real Estate Board of New York  concluded 20% or more
of the buildings of more than 25,000 square feet will not be in compliance next
year– many of them small and mid-sized co-ops and condos that house teachers,
nurses, civil servants and senior citizens unable to absorb the cost.

“Hardworking homeowners are becoming more and more aware of the challenges of
meeting the City’s sustainability mandates,” says Geoff Mazel, board member and
an attorney for Homeowners for a Stronger New York, representing cooperative
boards.

4
The law requires buildings with more than 25,000 square feet to replace their
old heating oil and natural gas boilers. Getty Images/Michael M. Santiago

‘Unfortunately, our shared climate goals will not be achieved unless our leaders
put forward practical solutions instead of counterproductive penalties that will
harm instead of help homeowners comply with these mandates. Otherwise, the costs
of owning a home for middle class New Yorkers will just get further out of
reach.”

There are approximately 12,000 co-op and condo buildings citywide, encompassing
over 832,000 apartments.

Of those 12,000 buildings, 5,540 must comply with Local Law 97, according to the
co-op/condo group.

The costs of heating conversions in co-ops and condos will be borne by
individual shareholders and owners either as assessments or whopping hikes in
monthly maintenance costs.

Buildings that failed to comply with the law next year face average fines of
$56,867, based on a recent study conducted by the consulting firm Level
Infrastructure.


SEE ALSO

editorial


BIDEN’S GREEN TAX BREAKS FOR THE RICH DRIVING NATION DEEPER INTO RED

The same study found that 3,700 properties could be out of compliance and face
more than $200 million per year in penalties.

By 2030, this number grows to over 13,500 properties that cumulatively could
face penalties as high as $900 million each year, as the law ratchets up the
threshold to curb greenhouse emissions.

Councilwoman Vickie Paladino (R-Queens) is holding a forum Tuesday with the
Presidents of Co-Op and Condo Council/Homeowners for a Stronger New York to
discuss the green mandate.

About 400 co-op and condo owners showed up at the last meeting, sources said.

“The impending enforcement and penalties under Local Law 97 are one of the
greatest challenges to Co-op and Condo Homeowners in a generation. The PCCC is
working with many elected officials and stakeholders to try to ease the impact
of the largest unfunded mandate in New York City history,” the group said.

Meanwhile,  Braunstein-Parker bill, if approved, would require the city to
provide a tax break  based on the reduction of greenhouse emissions for 10 years
or an exemption for any increased assessment for the green capital upgrades for
20 years.

“This type of tool is needed to ensure that buildings make the kinds of
investments that will be needed to combine energy efficiency with
electrification as those investments may not make financial sense in the absence
of an incentive,” the lawmakers said.

4
There are approximately 12,000 co-op and condo buildings citywide, encompassing
over 832,000 apartments. Christopher Sadowski

A rep for Adams said the administration is working with building owners to
comply with the law, not penalize them.

“Since it was signed into law under the last administration [former Mayor Bill
de Blasio], Local Law 97 has been a critical piece of the city’s efforts to
protect New Yorkers from the urgent climate crisis, and our administration has
worked tirelessly with thousands of co-ops and building owners across the city
to help them upgrade their buildings. The Adams administration is focused on
helping building owners, not penalizing them, and we encourage any building
owner to take advantage of the NYC Accelerator and get the support and guidance
they need to make necessary improvements,” the mayoral spokesman said.

The Adams administration set up an NYC Accelerator website that provides
guidance to building owners on how to comply with Local Law 97, which includes
one-on-one guidance and access to financial resources.

329
What do you think? Post a comment.

Accelerator has helped 10,000 buildings thus far, city officials said.

City officials also emphasized that bringing renewable energy and other
sustainability measures to the city will create thousands of new jobs, while
zoning changes pushed by Adams would make it easier for buildings to make
changes to lower carbon emissions, including the installation of solar panels.




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Filed under
 * affordable housing
 * bill de blasio
 * carbon emissions
 * city council
 * climate change
 * co-ops
 * condos
 * eric adams
 * kathy hochul
 * 4/30/23

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Gov. Kathy Hochul's ban on gas stoves only applies to new construction. Getty
Images for Concordia Summit
Queens Borough President Donovan Richards backs Local Law 97 but agrees middle
and working class co-op and condo owners need tax relief. ZUMAPRESS.com/Edna
Leshowitz
The law requires buildings with more than 25,000 square feet to replace their
old heating oil and natural gas boilers. Getty Images/Michael M. Santiago
There are approximately 12,000 co-op and condo buildings citywide, encompassing
over 832,000 apartments. Christopher Sadowski
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