CPC says its Energy Benchmark Plus will also help owners of buildings larger than 50,000 square feet to comply with New York City’s newly enacted Local Law 84 by providing all the energy usage information that the city will require from these owners by May 1 of this year.
Compiled by CPC loan officers who have been trained to perform energy and water usage analysis, the data will provide hard cost information showing owners how their buildings compare to similar New York buildings in energy and water usage, and how they can begin to realize operational savings. The data will provide a baseline – or benchmark – of present energy usage on a building-by-building basis.
CPC Energy Benchmark Plus complements the City of New York’s PlaNYC commitment to reduce greenhouse gas emissions by 30 percent by 2030. For the service, CPC will charge a $400 fee per building.
Michael Lappin, president and CEO of CPC, said, “The City has promulgated a comprehensive and mandatory campaign to create a ‘greener and greater’ New York. As a first step, Local Law 84 requires building owners to file their energy usage data with the City. CPC is uniquely positioned to help multifamily owners comply with the law because we have been conducting energy benchmarks for the past several years as part of our own green financing Initiative.”
He added, “I believe this is a measurement that owners will want to take. Once a benchmark is established, owners can see very quickly where improvements can be made, and how dollars will be added to a building’s bottom line. A building’s physical health and energy efficiency is closely tied to its financial health.”
CPC loan officers will collect energy data from property owners and benchmark the buildings using the U.S. Environmental Protection Agency format, and submit the results to the city.
Lappin said, “This will open up a dialogue with an owner who has a building which uses too much energy. We may be able to provide financing for the property’s green retrofit through our green financing initiative.”
CPC believes that by taking a green approach to housing development and management, owners can dramatically improve the physical and financial health of their buildings. Overall, the city will benefit from a reduction in greenhouse gas emissions. According to PlaNYC, approximately 80 percent of New York City’s carbon footprint comes from buildings’ energy use, and 85 percent of the buildings that exist today will be in use in 2030.
For additional information on CPC Energy Benchmark Plus, visit http://www.communityp.com/.
The Community Preservation Corporation is a not-for-profit mortgage lender that finances residential multifamily development throughout New York and New Jersey. Since its founding in 1974, CPC has invested more than $7.6 billion in nearly 140,000 units of housing.
Source: Community Preservation Corporation