Local Law 97 Extended to Drive Additional Multifamily Properties Towards Improvement

On October 29, 2020, the New York City Council passed Int. No 1947-A, which amended the initial Climate Mobilization Act legislation that had previously exempted many 25,000+ square foot multifamilies from having to take more than prescriptive measures to reduce carbon output.  The amendment, covered in detail by environmental law experts Alexa Saba and Jeffrey Gracer in their blog post, "New York City Council Passes Major Amendment to Local Law 97 Affordable Housing Provisions," changes rent-regulated accommodations.  Previously properties with more than one, or any rent-regulated apartments were exempt from the "teeth" of the Climate Mobilization Act.  In this revision, a property must have more than 35% rent-regulated units to be exempt from carbon emission caps, yet it should be noted that the legislation will guide them towards prescriptive measures.