Grace Period Added to Local Law 97, Councilmembers Lee and Paladino Press On

With Local Law 97 going into effect this New Year's Day, NY1 reports that "the City estimates about 1,600 buildings are out of compliance. The necessary retrofits can be prohibitively expensive... As a concession, the City will give out-of-compliance buildings a two-year grace period, allowing them to avoid hefty fines, if they agree to a binding decarbonization plan that will bring them into compliance by 2027." Councilmembers Linda Lee (D-Oakland Gardens) and Vickie Paladino (R-Whitestone) both continue to push legislative changes to reduce the costly impact on co-ops.