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We are pleased to share an important legislative victory for housing affordability and practical climate policy in New York.
Governor Kathy Hochul has announced revisions to the implementation of the Climate Leadership and Community Protection Act (CLCPA). While we support the intent of the law, the Governor's adjustments recognize the financial impact certain mandates would have on housing and energy affordability across the state.
A broad coalition of co-ops and condos, led by Co-ops & Condos United of NY, played a key role in highlighting these concerns through our advocacy efforts. In a detailed memo submitted to the Governor’s office and co-signed by co-ops representing over 200,000 shareholders, we demonstrated how rapidly imposed requirements could significantly increase costs for co-op and condominium residents. Read the full memo we submitted at the link below.
Among the principal changes and revisions to the CLCPA are:
- The revised legislation sets 2040 as the principal benchmark date for major emissions reductions and transition objectives;
- The State continues to maintain the long-term objective of achieving a fully carbon-free and net-zero economy by 2050;
- Revisions to greenhouse gas accounting standards and methane emission calculations provide more realistic and practical compliance methodologies;
- Delays in the implementation of the proposed Cap-and-Invest program, which could have substantially increased utility, fuel, and operating expenses;
- Greater consideration of electric grid reliability, energy affordability, housing impacts, and the operational realities confronting existing multifamily housing communities;
- Continued flexibility regarding the use of natural gas and dispatchable energy sources during the transition period.
While these legislative developments represent a meaningful benefit to the cooperative and condominium community, they also further underscore that the current Local Law 97 timelines and penalty structures are no longer practical, equitable, or economically sustainable under the revised State climate framework.
We will continue to advocate vigorously for fairness, reasonableness, and equity in any future revisions to Local Law 97 compliance timelines, mandates, and penalties affecting multifamily housing.
Together, we have demonstrated what our advocacy can accomplish on behalf of the co-op and condo community. Thank you for your continued support.
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