Council pushes Albany for eco-apt. tax ea$e

City Council members feeling the heat from thousands of angry co-op and condo owners are urging state pols to OK tax breaks over a new “green” mandate that could cost more than $20,000 per unit.

The City Council had actually approved the mandate, the Climate Mobilization Emissions Law, in 2019, requiring residential buildings to initially curb greenhouse gas emissions by 40% and ultimately by 80% by 2050.

But as the Big Apple’s already financially pressed residents flood members with complaints about how much more the regulations will cost them, local officials are turning to Albany, seeking city tax breaks.

The council and Mayor Adams have control over property-tax rates but not over the type proposed for the green edict, which must be approved by the Legislature and Gov. Hochul.

The edict’s cutbacks begin this year, with a co-op and condo advocacy group saying residents could face fines totaling $200 million in 2024 and $1 billion in penalties by 2030 for failing to make the required upgrades.

The Buildings Department last week said it was staffing up to enforce the law, City Limits reported.

The mandate requires buildings with more than 25,000 square feet to replace their old heating-oil and natural-gas boilers and switch to electric heat to cut down on greenhouse-gas emissions.

Thirty-three council members signed two letters sent to state Senate Majority Leader Andrea Stewart-Cousins and state Assembly Speaker Carl Heastie warning the mandate will require some 15,000 property owners to invest up to $15 billion in capital improvements by 2030.