NYC Local Law 97 Deadline Alert: Hire An Engineer By The End Of The Week!
Deadlines under New York City’s Local Law 97, the city-wide regulatory program aimed at cutting greenhouse gas emissions from buildings, are fast approaching.
Most importantly, May 1, 2025, will be the very first time owners of most buildings over 25,000 square feet will have to submit an annual report to the City that either demonstrates compliance with their building-specific emissions cap or details how much the building exceeds its cap.
The regulations do provide building owners with options to apply for certain extensions of the May 1 deadline. One of those options requires the building owner to demonstrate “good faith efforts” to meet the initial reporting deadline. To demonstrate such “good faith efforts,” building owners will need to provide a contract with a licensed professional engineer or registered architect that is dated no later than February 1. If granted, this option would extend the reporting deadline to August 29.
If you fail to meet the reporting deadline, for each month the report remains unfiled within 1-year after the initial deadline, owners can be liable for penalties up to $0.50 per square foot of the building’s gross floor area. That can quickly add up, depending on the size of your building. These penalties are separate and apart from penalties that may be assessed for failure to meet your buildings emissions target.
The next few months will be critical for meeting the May 1 reporting deadline, and so consult your team to make sure you understand how the upcoming deadlines may apply to you. Stay tuned for further details from us on other key reporting deadlines.
As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.
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