Fines & Penalties
Local Law 84 Fines
Overview of Local Law 84
The City Council of New York has mandated under Local Law 84—one of the new laws in New York—that buildings spanning 50,000 square feet or more (“covered buildings”) benchmark their energy Роза Хутор туры and water use annually, and report it to the city’s Department of Finance. The law also applies to two or more buildings on the same tax lot or condo board that exceed 100,000 square feet. The first deadline passed on May 1, 2011, after which annual benchmarks will be required no later than May 1st of each year.
Quarterly Fines & Penalties
Property owners and managers who fail to submit a benchmarking report by the deadline risk facing fines from late filing or non-compliance. If Local Law 84 benchmarking is delayed, quarterly fines are applied and are further compounded each quarter after the May 1st deadline.
Under Local Law 84, the deadline for submitting the benchmarking report for calendar year 2010 is August 31st, 2011. Thereafter, every year the deadline for submitting annual benchmarking reports is May 1st, pending which quarterly compounding fines of $500 apply.
Fines will keep compounding until the benchmarking report is submitted. Penalties in fines that accrue as benchmarking is delayed are:
$500, if submitted by May 1st, 2014
$1000, if submitted by August 1st, 2014
$1500, if submitted by November 1st, 2014
NYC real estate owners and managers would benefit from completing energy benchmarking by ensuring higher building energy efficiency and tenant occupancy levels.
Buildings Qualifying for Local Law 84 Benchmarking
Large commercial buildings are required to submit their building energy use and utility data to EPA’s Portfolio Manager tool, a comprehensive energy management software that analyzes energy data. Post-benchmarking reports generated from analyses are then posted on the internet by the Department of Finance for the public. Buildings that would need Local Law 84 benchmarking include large commercial estates, multi-family residences, data centers, and new buildings in NYC.
How to Ensure Early Compliance
Property managers can avoid hefty fines and ensure that their buildings are benchmarked before the deadline by simply contacting Associated Renewable’s energy benchmarking team for a no-charge consultation. Our energy experts will help you decide what you need to do to fully comply with Local Laws and improve overall building energy efficiency.