On February 9, 2023, PCCC Co-presidents Warren Schreiber & Bob Friedrich, PCCC Legal Advisor Geoffrey Mazel, Esq. and New York State Assembly Member Ed Braunstein chaired a Town Hall Meeting at North Shore Towers, hosted by the Community Affairs Committee. The purpose of the meeting was to go over issues of importance to the shareholders of the Co-op community and update them on the work of the PCCC. The meeting was extremely informative and well-attended.
Clearly, the “red hot” topic of the evening was the looming effects of the so-called Climate Mobilization Act (Local Law 97). The Panelists went into great detail about the possible exorbitant costs to comply with the New York City Mandate to reduce carbon emissions by 2024, 2030, and beyond. As importantly, the Panelists explained the exorbitant fines that are associated with non-compliance with the carbon emissions requirements of Local Law 97.
The Panel explored several measures the PCCC is pursuing to help give some relief to shareholders, including being lead plaintiffs in a lawsuit to have Local Law 97 overturned; providing tax credits to Coops for any capital expenditures which reduce carbon emissions, and a push to move back the implementation and penalties for a period of seven years from the dates as currently written in the statute.
The PCCC leadership plans on having more Town Hall type forums in the future and looks forward to the active participation of as many shareholders as possible.
You can watch the event on this link:
Community Affairs Committee Meeting 02.09.23
See the complete article on the event in the Tower Times