Recent legislation passed by the New York City Council (Local Law 97) is putting tremendously strict new requirements on commercial buildings (including non-rent controlled multifamily) to reduce energy consumption and greenhouse gas emissions. Commercial Property Assessed Clean Energy (C-PACE) was adopted by the City simultaneously (Local Law 96) to act as a “carrot” for property owners to have a source of funds available to make the necessary capital improvements to meet these requirements. The City is expected to launch its C-PACE program in H2 2020. (More info on the C-PACE ordinance here: https://council.nyc.gov/data/green/) In this sessions we will help attendees understand what C-PACE is, its benefits, and how it can be utilized to provide upfront capital for energy efficiency projects in order to comply with Local Law 97.
AIA 1.0 LU
- Summarize Local Law 97 and what it means for you
- Describe C-PACE and how it works
- Apply for and access financing to complete these required energy efficient improvements
- Use recommended means to finance their energy efficiency projects as required by Local Law 97