Local Law 97 penalty estimate
770 HENRY ST: $1,174,174/year in fees starting in 2030
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What would the estimated penalty be in 2030, assuming nothing changes?
$1,174,174/year
- Beginning in 2030, the city drops the emissions cap by 40%.
- At the same energy use, 770 HENRY ST will be 4,381 tons over the cap.
- Penalty is $268/ton over the cap, $1,174,174 total
354 ton cap4,381 over
What is the estimated penalty for 770 HENRY ST right now?
$1,111,687/year
- NYC caps a building's yearly greenhouse gas emissions.
- 770 HENRY ST is 4,148 tons over the emissions cap.
- Penalty is $268/ton over the cap, $1,111,687 total
587 ton cap4,148 over
Why does the penalty change in 2030?
- The emissions cap will be lowered by 40% in 2030, from 587 to 354 tons.
How much would the building need to cut its emissions to avoid the penalty?
93% less emissions than today
- This building must emit 93% less to avoid penalties.
- Owners can utilize energy efficiency upgrades or switch from gas or oil to electric.
How reliable is this estimate?
- This is a planning estimate, not the city's official number.
- Owners report their own energy use, and reports can have mistakes.
- The city makes the final call.
- ✓Energy use comes from the building's own 2024 report to the city
- ✓Emissions rates for 2024 to 2029 match the law
- ✓Emissions rates for 2030 on match the city rule
- ✓The property type is matched to the city's category
- ○The compliance route the city assigns is not confirmed
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