Daisy ’s Post

How much do you know about New York City's Local Law 97 (LL97)? Did you know that it's one of the most ambitious policies ever written that targets emissions coming from construction and real estate? Did you know that the reporting period starts in less than two months and penalties will kick in as early as 2025? If you didn't know this (and even for those who did) Akila's Mark Bawtree covers all of the basics and more on LL97 in this video insight. Anybody with questions or interest in the policy, its impact on property owners in New York City, and how it might influence other cities in the United States can find it in this comprehensive overview. 📺 Check it out! #ll97 #newyorkcity #realestate #greenbuildings #climatepolicy #climatechange #emissionsreduction

in open letter to Mayor Adams, NYC tech leaders voice concern that RE interests aim to loosen requirements and enforcement of LL97. The Mayor is urged to stay strong with particular focus on: 1. No loopholes, including with respect to RECs, should be opened up that would weaken Local Law 97 or allow buildings subject to the law to cheaply buy their way out of compliance. 2. There should be no delays in the 2024 enforcement cycle, and no reduction in the mandated fines for buildings that fail to come into compliance. open letter: https://lnkd.in/gCZYCxNU With 80% of buildings already compliant with next years requirements, is there reason for concern? #nycrealestate #locallaw97 #netzero #energyefficiency

There is still uncertainly around NYC Local Law 97 penalties associated with building #carbonemissions. A recent article by Bisnow's Miriam Hall suggests that building owners that make "good faith" efforts to improve their #energyefficiency will be rewarded with lower fines, see https://lnkd.in/dXdJzZk5. Whether fines will be imposed to the fullest is to be seen. What we do know, however, is that NYC is facing a budget deficit, and the city can be very effective at collecting revenue from various fines. Bloomberg estimates that NYC will face a $5.8 billion deficit next year. Hall's article references data from REBNY (Real Estate Board of New York) which found that noncompliant NYC buildings will face up to $213 million in annual penalties starting in 2024. This grows to $900 million by 2030. It's a lot of potential revenue to leave on the table. Now is the time to act to mitigate this financial risk. It can take years to implement a budget-smart building #decarbonization plan, from analysis to realizing the savings. LL97 is the proverbial stick, but the City also offers a cartload of carrots, including unprecedented utility and public incentives for energy retrofits. For example, the NYC Accelerator offers a range of free resources to help building owners save on energy costs and avoid fines. They are a wonderful team to work with! https://accelerator.nyc/

🌎 It's 2024. Do you know where your emissions are? 🌎 2024 is the first compliance year for Local Law 97, and it affects much affordable and rent-regulated housing in NYC. In December, the DOB released new rules, focusing on compliance rather than penalties. But affordable housing buildings, especially those subject to Article 321 need to ACT NOW! Check out the #NYCDOB's super helpful new Article 321 Filing Guide which outlines penalties, reporting requirements, and outlines how some buildings can have more time to comply if they commit to deeper decarbonization: https://lnkd.in/e6TH6knb. Reach out to the #NYCAccelerator today to get started:

William D. McCracken weighs in with Habitat Magazine on NYC’s second round of proposed rules clarifying what constitutes a “good faith” effort by building owners to comply with Local Law 97.  Read full article here: https://lnkd.in/dmnH9N-D #realestate #locallaw97

If you own buildings in New York City with more than 25,000 sqft of space or any two or more buildings governed by the same condominium association that together exceed 50,000 sqft, here are some ways you can mitigate penalties imposed by Local Law 97. CSG Law Alert: How Building Owners Can Show Good Faith Efforts to Comply with Local Law 97's Emissions Limits https://ow.ly/zUl950Qq88V

What fees levied by municipalities for building permits are an unfair taking? The Supreme Court is set to hear the case of Sheetz v. County of El Dorado, a potential landmark property-rights case with significant economic implications. The central question is whether governments can use building permits to coerce property owners. George Sheetz applied for a permit to build a home, and the county conditioned it on a $23,420 fee for traffic impact mitigation, raising concerns about excessive fees. The case involves constitutional considerations, including the Fifth Amendment, Nollan, and Dolan precedents, addressing the essential nexus and rough proportionality of permit conditions. The outcome may impact government takings and property rights protection against excessive fees and exactions #realestatedevlopment #permits #municipalities #commercialrealestate #realestate

maybe we need a rating system for landlords and tenants. There is probably some law against this. #landlordsfromhell #landlordproblems #tenantproblems #alishacollins #casperwyomingrealestate #realestatebestie

Did you know that new developments infringing upon neighbours’ Right to Light may face legal action and financial compensation? Property developers, don’t let it get to this point! Contact us today to assess your development’s impact on natural light within this legal framework. https://lnkd.in/e6Xh5gVA #PlanningForSustainability #Sustainability #RightToLight #ImpactAssessment

Navigating municipal regulations? Our experts have you covered. 🧰 From zoning issues to permits, we're here to ensure your project's success whether you are an individual or a developer! 🔧 #MunicipalLaw #ProjectSuccess #OntarioMunicipalBoard