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TODAY! All the latest co-op / condo news of note in one handy place: Habitat's WEEKLY NEWS ROUNDUP!
BUYERS: A new tax may add $5,000 or more to co-op closing costs! READ OUR EXCLUSIVE REPORT
WEB-EXCLUSIVE: How to Handle the 5 Top Co-op/Condo Owner Complaints!
APARTMENT BUYERS: See THE CO-OP/CONDO OWNER'S MANUAL to learn about admissions perils and pitfalls!
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Green Roofs Tax Abatement and Alt-Energy Initiatives Signed Into Law
Web-Exclusive News Update — August 18, 2008 — New York Governor David A. Paterson on August 5 signed into law new energy and greening legislation designed to promote green-roof initiatives and encourage private solar- and wind-power systems.
The one-year abatement for green roofs — a roof covered with grass and plants, providing an insulating layer to help reduce energy consumption and improve air quality, among other benefits — will cut up to $100,000 from a building's tax bill.
The new abatement, which is in effect from Jan. 1, 2009, to March 15, 2013, applies to buildings that cover at least half of a roof with vegetation.
Patterson also signed into law a bill relating to net metering, which allows homeowners and businesses to earn credit for any excess power that they feed back into the public electric grid. Provisions of benefit to co-ops, condos and other residential buildings include increasing the upper limit that Con Edison and other energy providers must accept and rebate for, from 10 kilowatts to 25 kilowatts.
Formally titled the "Green Roof Tax Abatement for Certain Properties in a City of One Million or More Persons," the green-roof bill was sponsored by Assemblyman Ruben Diaz, Jr., whose 85th Assembly District covers part of the South Bronx. The Senate version, S 7553, was sponsored by Senator Andrew J. Lanza of the 24th Senate District.
"We know we have to protect the environment," Assemblyman Diaz told Habitat, "and the number-one contributor to global warming, in terms of pollution, is not emissions from automobiles, as many people think — it is buildings. Green roofs significantly reduce [a building's] carbon footprint."
"These bills will help improve New York’s air quality, curb our dependency on fossil-fuel based energy sources, and create 'green' jobs while simultaneously leading to greater investment by homeowners ... in facilities that will generate renewable energy power and allow them to sell their excess power back to the grid," said Patterson in a prepared statement.
— Frank Lovece
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Posted by: Opera Lady
03/09/2010 05:51 pm
Here it is March 9th and the 32BJ contract expires on April 20th. I asked my managing agent, who says he's heard nothing yet, about negotiations. Is this Read More »
Just when you thought you were out, they pull you back in! Eradicating bed bugs is proving to be a difficult problem. We've gone through a few buildings Read More »
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2010 Source Guide
Be sure to check out our 2010 Source Guide – chock-full of great resources for your board. It is available online, and you can also get your organization listed as a provider.





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