Local Law 84 is one of four Local Laws enacted as part of the City’s Greener, Greater Buildings Plan (GGBP), a “comprehensive, mandatory effort to reduce emissions from existing large buildings,” said Mayor Bloomberg in signing the legislative package in 2009. Studies have shown that approximately 75 percent of the City’s greenhouse emissions come from buildings. The City’s ultimate goal is to reduce emissions by 30 percent by 2030.
According to Peter Lampen, Vice President and Architect with Douglas Elliman Property Management (DEPM), “The City hopes that this data will enable building management and owners to better understand the performance of their buildings, and incentivize the undertaking of energy-saving improvements and upgrades.”
For co-ops and condos, the usage data should be collected and reported by their management company. Peter Lampen reports, “We have been through two annual cycles of Benchmarking under Local Law 84, and this May we will be filing to complete the third cycle, submitting each property’s energy and water usage data for 2012.”
This year, for the first time since the Law was enacted, this data will be made public, showing electricity, natural gas, fuel oil and water usage. With the ever-increasing cost of fuel and water, it is expected that co-op and condo buyers and investors will begin to use this data to compare properties. The City hopes that buildings with a higher energy use “score,” indicating better energy efficiency and lower carbon footprint, will become more attractive to buyers, encouraging less efficient properties to initiate energy upgrades, which could result in usage reductions of up to 40 percent.
“We will issue a simple report for each building,” explains Lampen, “listing the major data points as well as comparisons to the rest of the DEPM portfolio, and to a larger profile of multi-family residential buildings in the city.” This report will help managers and board members address shortcomings and plan ways to cut energy and water usage.