By: Yula Massamides

In a bid to alleviate the financial burden on middle-class co-op and condo owners grappling with the implementation of Local Law 97, Mayor Eric Adams has expressed willingness to explore property tax breaks.

The NY Post covered this real estate development.

This pivotal move comes as anxious residents brace themselves for the costly upgrades mandated by the cities over ambitious and extremist  environmental regulations.

During a recent testimony in Albany on the state budget, Mayor Adams conveyed his empathy for co-op and condo owners facing the prospect of costly building upgrades to comply with the stringent environmental standards imposed by Local Law 97. Drawing from personal experience, Adams highlighted the significance of co-op living for working-class individuals, recognizing it as a substantial investment for many.

The mayor’s openness to considering tax abatements stemmed from a query posed by state Assemblyman Edward Braunstein, who voiced concerns about the financial strain faced by co-op owners in meeting the requirements of Local Law 97. Braunstein underscored the urgency of finding solutions to incentivize compliance with the new energy mandates, emphasizing the need for collaboration between the city and state authorities.

Responding affirmatively to Braunstein’s proposal, Mayor Adams expressed a willingness to engage in discussions aimed at offering property tax abatements to ease the financial burden on co-op and condo owners. He reiterated the city’s commitment to minimizing the economic impact on property owners while emphasizing the importance of cooperation in addressing the challenges posed by the green mandates.

Local Law 97, also known as the Climate Mobilization Emissions Law of 2019, represents a significant milestone in New York City’s efforts to combat climate change. The law imposes stringent limits on greenhouse gas emissions from buildings, with the aim of reducing carbon emissions by 40% by 2030 and 80% by 2050. This necessitates substantial upgrades in building infrastructure, particularly for properties exceeding 25,000 square feet.

Under the mandate, buildings are required to transition from conventional heating oil and natural gas boilers to electric heat, thereby reducing greenhouse gas emissions. While the law primarily targets existing buildings, which account for a substantial portion of the city’s carbon emissions, many property owners are already in compliance with the regulations.

In Albany, Braunstein and state Sen. Kevin Parker are championing the GREEN Buildings Act, which seeks to provide tax abatements to co-op owners for up to 10 years to mitigate the financial strain associated with compliance. This legislative initiative underscores the importance of proactive measures in supporting property owners and facilitating the transition towards what the radical environmentalists and Globalist Kingmakers call  a ‘greener and more sustainable urban environment’.

As New York City strives to meet its  WEF approved, extremist climate goals, collaborative efforts between government entities and property owners are imperative in navigating the challenges posed by environmental regulations.

Mayor Adams’ consideration of property tax relief for middle-class co-op and condo owners is the least he can do, as radical “green agenda” elitists push their scientifically disproven insanity on to humanity. Carbon itself is the molecule of life, but in an upside down world dominated by radicals, it is now officially a “pollutant”, as the  “green agenda” marches on, making life more expensive and restrictive by the day.