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Deals & Dealmakers

CANY to lead discussion on Climate Mobilization Act, FISP Regulations

CANY, a New York-based architecture and engineering firm, will lead a Real Estate Weekly panel of government agencies and industry experts to discuss significant changes to building requirements: Local Law 97 (Climate Mobilization Act) and a more critical Local Law 11 (FISP).

The panel will explain the synergy between these laws and provide a strategy to address both on February 6 at Convene, 151 West 42nd Street in Manhattan.

The event, which will feature senior leaders from CANY, MG Engineering and Apogee Enterprises will focus on strategies to navigate the significant challenges of these regulations in a planned and structured manner.

The event will provide clarity on new requirements and timelines while offering a roadmap to facilitate strategic navigation of the requirements over the long-term and provide insight on potential solutions.

“By using the upcoming FISP inspection cycle to their advantage, building owners can control costs and avoid duplicative building improvements required by Local Law 97,” said Jarrett Huddleston, CANY. “Any building owner that is conducting FISP inspections can use this as an opportunity to plan for compliance with Local Law 97.”

Last year, the New York City Council passed the Climate Mobilization Act (CMA), to reduce the greenhouse gas emissions and improve efficiency for commercial and residential buildings larger than 25,000 square feet. Of the 11 pieces of legislation that are part of the CMA, the centerpiece is Local Law 97 of 2019, which establishes strict limits for carbon emissions.

By 2024, affected buildings must meet reduced carbon emission standards and additional energy conservation requirements, or face significant fines. For every metric ton of carbon over the limit, a fine of $268 (per metric ton per square foot) will be implemented on an annual basis with additional fines for false or inaccurate reporting. Fines could be hundreds of thousands of dollars for some buildings. Carbon emission levels are further reduced in 2029.

Immediate action is required by owners of non-compliant buildings to begin planning to resolve the issue, which could entail new HVAC equipment, new roofs, new windows and potentially new facades in certain buildings. This process can be both time consuming and expensive, and the panel discussion will lay out an approach that combines compliance with Local Law 11 (FISP) and Local Law 97 to control costs and approach remediation in the most efficient manner.

Local Law 11 – known as FISP (Facade Inspection Safety Program) — requires periodic inspection of building facades and exteriors for all properties six stories or taller.

FISP covers 13,000 properties in New York City and mandates that building owners engage a Qualified Exterior Wall Inspector (QEWI) to inspect their building exterior and file a technical report on the condition of the facade once every five years. CANY has been conducting these inspections since 1999.

Starting February 2020, the New York City Department of Buildings (DOB) will tighten FISP requirements for building owners, requiring additional hands-on inspections, probe investigations, display of a facade condition certificate increased civil penalties and a new $2,000 penalty for failure to correct Safe with a Repair and Maintenance Program (SWARMP) conditions by the next cycle. Many owners will be prompted to perform maintenance and repairs, and by coordinating the two requirements owners can reduce costs.

To register for the event, please visit: https://www.eventbrite.com/e/climate-mobilization-act-cany-tickets-88675808731.

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