New York City continues to promote the importance of energy efficiency in furtherance of its aim to cut greenhouse carbon emissions by 40% by 2030.
The focus on achieving that goal is so intense, that Crain’s New York reports that landlords will be required to publicly disclose how “green” their properties are.
“[R]oughly 50,000 buildings in the city that are 25,000 square feet or larger must display a letter grade near public entrances,” Crain’s guides. This new law is comparable to the city’s restaurant-grading system, where eateries are required to post their health inspection scores.
Pursuant to Local Law 95, an amendment to Local Law 33, landlords will need to input their energy data on an online platform. The Environmental Protection Agency will then base the results on the entered information (which needs to be provided by May of 2020).
“The tool will take into account building type, size and number of occupants, among other factors,” Crain’s explains. Local Law 95 guides that a score higher than an 85 is an “A,” 70-84 is a “B,” 55-69 is a “C,” and anything less than a 55 is a “D.”
Some wonder whether a building’s low score will have the same effect as a poor restaurant grade. “If I show up at a restaurant with a C, I’m not stepping in the door,” David Klatt, the senior Vice President of Logical Buildings, said to the New York Times. “It is not clear how city residents will react to a middling or even low grade of their home or place of work.”
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To read the full Crain’s piece, please click here: https://www.crainsnewyork.com/real-estate/landlords-must-display-energy-efficiency-grades-starting-next-year