Local Law 97 is the new legislation focused on reducing New York City emissions to save our planet. The city’s goals are ambitious, so Local Law 97 covers a lot - it’s hard to know where to begin. We broke it down into 3 easy steps to get started and set your building on the right track to being healthy and compliant.
Step 1: Does your building need to comply?
Contrary to popular belief, Local Law 97 doesn't apply to all buildings. Only those over 25,000 square feet need to comply with the new energy limits. Nonetheless, smaller buildings can benefit from taking energy-efficient measures to save money and contribute to a greener future.
Step 2: Building checkup
Analyzing your building's systems is far from simple. A thorough examination requires the expertise of an MEP engineer (that’s mechanical, electrical, and plumbing). These experts will assess your building’s systems and provide a detailed report identifying sources of significant energy consumption and carbon emissions.
Step 3: Capital planning
Discussing a financial plan for Local Law 97 during a single board meeting might sound ideal - but it's far from reality. Based on our estimates, the average building may need to invest around $1 million to meet reduced emissions requirements. An experienced property manager can work with you to develop a customized plan, taking into account your building's unique needs, finances, and available financing opportunities.
Is your building prepped for Local Law 97? By assessing your building's eligibility, analyzing its systems, and establishing a capital plan, you can smoothly transition to a more sustainable future. If you haven’t gotten started, Daisy’s here to help you go green without seeing red.
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