New York's Cooperative and Condominium Community

Habitat Magazine Insider Guide

HABITAT

GREEN IDEAS

HOW NYC CO-OPS/CONDOS SAVE ENERGY

Green Roofs Tax Abatement and Alt-Energy Initiatives Signed Into Law

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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Learn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments

Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise

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