Local Law 97: What Boards Need to Know
Introduction
Local Law 97 is New York City’s landmark climate law, requiring buildings over 25,000 square feet to cut carbon emissions or face steep financial penalties. For co-op, condo, and HOA boards, compliance is not optional — and the cost of inaction can be devastating.
Why It Matters for Your Board
LL97 sets strict emissions caps with compliance deadlines starting now and tightening further in 2030. Non-compliance results in annual fines that can quickly add up to millions of dollars, draining reserves and reducing property values.
What Compliance Means in Practice
Boards should expect to consider:
Boiler & HVAC upgrades – replacing outdated systems with energy-efficient alternatives.
Building envelope improvements – insulation, windows, and air sealing to reduce energy waste.
Renewable energy options – solar panels or green power purchasing to offset emissions.
The Risks of Doing Nothing
Financial penalties: Fines are calculated annually for every ton over the emissions limit.
Resident backlash: Higher costs eventually lead to special assessments or higher maintenance fees.
Reduced property values: Buyers are increasingly aware of compliance risks.
Funding Compliance Efforts
Boards have several financing tools at their disposal:
Strengthening capital project reserves.
Refinancing mortgages to free up project funds.
Leveraging incentives and grants such as NYSERDA programs or federal tax credits.
Exploring PACE financing, which ties repayment to property tax bills.
What Boards Should Be Doing Today
Confirm your emissions reports are filed and accurate.
Request an LL97 compliance roadmap from your property manager or consultant.
Set clear milestones for upgrades between now and 2030.
Budget early so costs are spread out — not concentrated in one painful assessment.
How Jonasvar Helps
At Jonasvar Inc., we treat your property as if it were our own. That means:
Guiding boards through emissions reporting.
Connecting you with vetted energy consultants and vendors.
Helping plan and fund upgrades with minimal disruption to residents.