$4.50 Per Square Foot Credit for Green Roofs in NYC
June 26th, 2008 by Ethan
This isn’t one of those green luxury things. Green roofs and green walls are more necessary now more than ever in NYC — they dramatically improve the air quality, water quality, and reduce heat island effect while saving energy.
Sustainable Cities Blog — a project of CUNY Institute for Sustainable Cities — reports:
Good news for those of us who look out on flat black roof tops and shudder with thoughts of their lost potential. On June 24th, Assembly Bill 11226 was passed allowing building owners in New York City who install green roofs on at least 50 percent of available rooftop space to get tax credit for it. Property owners will be able to apply for a one-year property tax credit of $100,000. The credit is equal to $4.50 per square-foot area that is planted vegetation. This is essentially 25% of the typical cost associated with materials, labor, design, and maintenance. The Storm Water Infrastructure Matters (S.W.I.M.) spear-headed the initiative with the help of Assembly Member Ruben Diaz. The law goes into effect on January 1st 2009 and will expire in 2013.
Get the news straight from the source at S.W.I.M.: Tax Credits for New York City Green Rooftops
There are a few more sources that use the same press release, but here are the key passages:
The benefits of green roofs are measurable, according to Dr. Paul S. Mankiewicz, Gaia Institute executive director and board member of the New York City Soil & Water Conservation District. “Each 10,000-sq-ft green roof can capture between 6,000 and 12,000 gal of water in each storm event. This is rainfall that will never enter the combined sewer. At the same time, the evaporation of this rainfall will produce the equivalent of between 1,000 and 2,000 tons of air conditioning–enough heat removal to noticeably cool 10 acres of the city. This is a management practice that increases biodiversity and can literally add enjoyable landscape to all the boroughs of New York”.
Riverkeeper Chief Investigator Basil Seggos added, “By incentivizing green roof construction, this legislation will enable New York City to become greener, cleaner and more energy efficient. And our waterways will benefit from smaller volumes of raw sewage as a result.”
[...]
Green roofs also address New York’s environmental justice problems, explained Kate Zidar, Senior Environmental Planner of Youth Ministries for Peace and Justice. “Green roofs reduce costly environmental burdens, such as poor air quality and sewage treatment processing, in communities throughout New York City, especially environmental justice communities that host more than their share of environmental burdens.”
Other sources that are covering this green roofs story:
- NYC Gets a Green Roof Kickstart (Greener Buildings)
- Green Rooftops in New York City Now Rewarded With Tax Credits (WSJ MarketWatch)
- New York City Green Roof Buildings to Earn Tax Credit (EStormWater.com)
- Green Rooftops in New York City Now Rewarded With Tax Credits (StreetInsider.com)
If you haven’t seen it yet, check out last week’s Green Buildings NY post that includes information about our new favorite green roofs and green walls companies: G-sky and Greensulate.
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June 27th, 2008 at 8:44 am
[...] York City passed a law that goes into effect on January 1st, 2009 to provide a property tax credit of up to $100,000 for homeowners who install green roofs on at least 50% of their available [...]
July 2nd, 2008 at 1:27 pm
[...] by mbgs on July 2, 2008 Courtesy of Green Brooklyn comes the news that the New York State Assembly has passed a $4.50 per square foot property tax [...]
July 26th, 2009 at 2:44 pm
[...] and board member of the New York City Soil & Water Conservation District. “Each 10,000-sq-ft green roof can capture between 6,000 and 12,000 gal of water in each storm event. This is rainfall that will [...]