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Local Law 97
New year, new worries: What condo and co-op boards are watching in 2024
… concerns Its no secret that condo and coop buildings had a tough 2023 Rising monthly fees and insurance costs put … same Theres a lot of citydriven initiatives that are going to affect the vast majority of our portfolio and those are … the 2024 to 2029 carbon emissions limits but those that arent will see fines of $268 per metric ton of carbon dioxide …
What boards need to know about Local Law 97’s newly finalized rules
… the final rules governing how Local Law 97 which requires buildings to cut their carbon emissions or face escalating … needs to know The finalized rules offer a handful of ways buildings can avoid or lower fines through good faith … to file a decarbonization plan carries a $10000 fine … What boards need to know about Local Law 97s newly finalized rules …
Navigating funding obstacles faced by condo and co-op buildings complying with Local Law 97 (Part III)
… the financial maze of Local Law 97 compliance coop and condo buildings encounter an unexpected twist their … is common for coops to borrow money because a cooperative corporation owns its property which can be offered as … for the loan is monthly common charges the boards bank accounts and reserve funds Section 339jj of the New …
Our building’s square footage may be too small to comply with Local Law 97. Should I get it remeasured?
… footage if you think it may be too small to be governed by Local Law 97 But unless theres a reason the New York City … your buildings size it might not be worth the effort Local Law 97a landmark climate law passed in 2019restricts … registered design professionals … What buildings fall under Local Law 97 … Whether a building ends up on the DOBs list …
