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The J-51 program is an important tool that helps co-op buildings fund critical capital upgrades and make necessary improvements to their properties without placing an even greater financial burden on shareholders. Restoring and expanding this program is essential to helping aging co-op buildings remain safe, affordable, and financially sustainable. It also plays an important role in helping buildings comply with Local Law 97 by supporting energy efficiency and emissions-reducing upgrades.
We are hopeful that the bill will receive a City Council hearing in the fall.
Co-ops and Condos United will continue working with our elected allies and co-op residents to build support for this critical legislation.
We’ll keep you updated as the bill moves through the Council. Stay tuned for opportunities to make your voice heard.
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