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Mayor Eric Adams Announces The Creation Of GreenHOUSE Fund
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menu-item-has-children"><a href="#">SouthWest</a><ul class="sub-menu"><li id="menu-item-20366" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20366"><a href="/neighborhoods/concourse">Concourse</a></li><li id="menu-item-20368" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20368"><a href="/neighborhoods/crotona-park-east">Crotona Park East</a></li><li id="menu-item-20397" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20397"><a href="/neighborhoods/highbridge">Highbridge</a></li><li id="menu-item-20415" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20415"><a href="/neighborhoods/morrisania">Morrisania</a></li><li id="menu-item-20416" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20416"><a href="/neighborhoods/mott-haven">Mott Haven</a></li><li id="menu-item-20416" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20416"><a href="/neighborhoods/mount-eden">Mount Eden</a></li><li id="menu-item-20441" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20441"><a href="/neighborhoods/south-bronx">South Bronx</a></li></ul></li><li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children"><a href="#">NorthEast</a><ul class="sub-menu"><li id="menu-item-20374" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20374"><a href="/neighborhoods/east-bronx">East Bronx</a></li><li id="menu-item-20441" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20441"><a href="/neighborhoods/van-nest">Van Nest</a></li></ul></li><li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children"><a href="#">SouthEast</a><ul class="sub-menu"><li id="menu-item-20362" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20362"><a href="/neighborhoods/clason-point">Clason Point</a></li><li id="menu-item-20430" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20430"><a href="/neighborhoods/parkchester">Parkchester</a></li><li id="menu-item-20431" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20431"><a href="/neighborhoods/pelham-bay">Pelham Bay</a></li><li id="menu-item-20440" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20440"><a href="/neighborhoods/soundview">Soundview</a></li><li id="menu-item-20441" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20441"><a href="/neighborhoods/south-bronx">South Bronx</a></li></ul></li></ul></li><li id="menu-item-20425" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children menu-item-20425"><a href="#">Manhattan</a><ul class="sub-menu"><li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children"><a href="#">Uptown</a><ul class="sub-menu"><li id="menu-item-20452" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20452"><a href="/neighborhoods/uptown">Uptown</a></li><li id="menu-item-20452" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20452"><a href="/neighborhoods/harlem">Harlem</a></li><li id="menu-item-20452" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20452"><a href="/neighborhoods/uppereastside">Upper East Side</a></li><li id="menu-item-20452" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20452"><a href="/neighborhoods/upperwestside">Upper West Side</a></li><li id="menu-item-20452" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20452"><a href="/neighborhoods/washington-heights">Washington Heights</a></li></ul></li><li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children"><a href="#">Midtown</a><ul class="sub-menu"><li id="menu-item-20346" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20346"><a href="/neighborhoods/57thstreet">57th Street</a></li><li id="menu-item-20452" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20452"><a href="/neighborhoods/midtowneast">Midtown East</a></li><li id="menu-item-20452" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20452"><a href="/neighborhoods/midtownsouth">Midtown South</a></li><li id="menu-item-20452" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20452"><a href="/neighborhoods/midtownwest">Midtown West</a></li><li id="menu-item-20452" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20452"><a href="/neighborhoods/murrayhill">Murray Hill</a></li><li id="menu-item-20452" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20452"><a href="/neighborhoods/timessquare">Times Square</a></li></ul></li><li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children"><a href="#">Midtown-Downtown</a><ul class="sub-menu"><li id="menu-item-20361" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20361"><a href="/neighborhoods/chelsea">Chelsea</a></li><li id="menu-item-20383" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20383"><a href="/neighborhoods/flatiron">Flatiron</a></li><li id="menu-item-20391" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20391"><a href="/neighborhoods/gramercy">Gramercy</a></li></ul></li><li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children"><a href="#">Downtown</a><ul class="sub-menu"><li id="menu-item-20371" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20371"><a href="/neighborhoods/downtown">Downtown</a></li><li id="menu-item-20377" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20377"><a href="/neighborhoods/east-village">East Village</a></li><li id="menu-item-20381" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20381"><a href="/neighborhoods/fidi-downtown">Financial District</a></li><li id="menu-item-20393" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20393"><a href="/neighborhoods/greenwichvillage">Greenwich Village</a></li><li id="menu-item-20452" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20452"><a href="/neighborhoods/hudson-square">Hudson Square</a></li><li id="menu-item-20452" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20452"><a href="/neighborhoods/lowereastside">Lower East Side</a></li><li id="menu-item-20452" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20452"><a href="/neighborhoods/meatpacking-downtown">Meatpacking</a></li><li id="menu-item-20439" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20439"><a href="/neighborhoods/soho">SoHo</a></li><li id="menu-item-20452" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20452"><a href="/neighborhoods/tribeca">TriBeCa</a></li><li id="menu-item-20452" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-20452"><a href="/neighborhoods/west-village">West Village</a></li></ul></li></ul></li><li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children "><a href="#">Queens</a><ul class="sub-menu"><li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children"><a href="#">Northwestern</a><ul class="sub-menu"><li class="menu-item menu-item-type-custom menu-item-object-custom "><a href="/neighborhoods/astoria">Astoria</a></li><li class="menu-item menu-item-type-custom menu-item-object-custom "><a href="/neighborhoods/north-corona">North Corona</a></li><li class="menu-item menu-item-type-custom menu-item-object-custom "><a href="/neighborhoods/elmhurst">Elmhurst</a></li><li class="menu-item menu-item-type-custom menu-item-object-custom "><a href="/neighborhoods/forest-hills">Forest Hills</a></li><li class="menu-item menu-item-type-custom menu-item-object-custom "><a href="/neighborhoods/glendale">Glendale</a></li><li class="menu-item menu-item-type-custom menu-item-object-custom "><a href="/neighborhoods/jackson-heights">Jackson Heights</a></li><li class="menu-item menu-item-type-custom menu-item-object-custom "><a href="/neighborhoods/long-island-city">Long Island City</a></li><li class="menu-item menu-item-type-custom menu-item-object-custom "><a href="/neighborhoods/rego-park">Rego Park</a></li><li class="menu-item menu-item-type-custom menu-item-object-custom "><a href="/neighborhoods/ridgewood">Ridgewood</a></li></ul></li><li class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children"><a href="#">Northeastern</a><ul class="sub-menu"><li class="menu-item 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data-single-post-site-title="New York YIMBY" data-single-post-site-tagline="New York YIMBY says "Yes In My Backyard" to positive new development in the NYC metropolitan region." data-single-post-scroll="false" data-single-post-scrolltop="1000" data-single-post-controls="1" data-single-post-progress-bar="" data-container-type="div" data-loading-style="infinite skype" data-repeater="template_2" data-post-type="post" data-order="DESC" data-orderby="date" data-offset="0" data-posts-per-page="1" data-scroll-distance="1" data-pause-override="true" data-button-label="Load More" data-prev-button-label="Load Previous"><div class="alm-single-post post-1962413" data-url="https://newyorkyimby.com/2024/10/mayor-eric-adams-announces-the-creation-of-greenhouse-fund-to-reduce-housing-emmissions-in-new-york-city.html" data-title="Mayor Adams Announces GreenHOUSE Fund to Reduce Housing Emissions In New York City" data-id="1962413" data-page="0"><article class="h-entry" id="post-1962413" class="post-1962413 post type-post status-publish format-standard has-post-thumbnail hentry category-feature-2 types-infrastructure"><header class="entry-header clearfix"><h1 class="post-title entry-title p-name">Mayor Adams Announces GreenHOUSE Fund to Reduce Housing Emissions In New York City</h1></header><div class="entry-thumbnail"> <img width="777" height="518" src="https://newyorkyimby.com/wp-content/uploads/2024/09/pr595-24-1-777x518.jpg" class="u-photo wp-post-image" alt="Photograph of Eric Adams, via nyc.gov" decoding="async" fetchpriority="high" srcset="https://newyorkyimby.com/wp-content/uploads/2024/09/pr595-24-1-777x518.jpg 777w, https://newyorkyimby.com/wp-content/uploads/2024/09/pr595-24-1-768x512.jpg 768w, https://newyorkyimby.com/wp-content/uploads/2024/09/pr595-24-1-260x173.jpg 260w, https://newyorkyimby.com/wp-content/uploads/2024/09/pr595-24-1.jpg 799w" sizes="(max-width: 777px) 100vw, 777px" /><span class="wp-caption-text">Photograph of Eric Adams, via nyc.gov</span></div><p class="entry-meta"> <span class="entry-meta-author vcard author">By: <a rel="author" class="fn p-author h-card"" href="https://newyorkyimby.com/author/max">Max Gillespie</a></span> 7:00 am<span class="entry-meta-date updated dt-published"></span> <span class="entry-meta-date updated dt-published"> on October 1, 2024</span></p><div class="entry-content e-content clearfix"><p>New York City Mayor Eric Adams recently announced the creation of the GreenHOUSE Fund, which will aim to assist rent-regulated apartment buildings and low-income co-ops in their efforts to decarbonize. If approved, the fund will work to improve air quality in disadvantaged communities with high asthma rates while simultaneously moving the city and state closer to achieving emissions reduction and equity goals.</p><p>Under the proposed DOB rule, offset certificates would be available for purchase at $268 per ton of carbon emissions, with the proceeds earmarked for efficiency improvements at affordable housing developments across the city. The fund will be managed through the Resilient & Equitable Decarbonization Initiative, a joint program by the New York City Department of Housing Preservation and Development and the New York State Energy Research and Development Authority.</p><p>Mayor Adams has also called on the New York City Council to enact the J-51 housing quality tax incentive program, which would help low- and moderate-income multifamily buildings afford the necessary emissions reduction projects to meet Local Law 97 targets.</p><p>The Adams administration has been proactive in encouraging building owners reduce emissions, launching the “Getting 97 Done” plan last September and providing technical assistance through the NYC Accelerator program. The GreenHOUSE Fund has garnered support from various stakeholders including state legislators, industry associations, and environmental organizations, who cited its potential to address both the city’s housing affordability and climate change challenges.</p><p>“The more support we give to building owners, the more likely that Local Law 97 is going to be successful in reducing greenhouse gas emissions, creating a more sustainable city and improving air quality for all New Yorkers,” said New York state senator Kevin Parker. “I applaud the Adams administration for continuing their smart approach to implementing this important climate law.”</p><p> <a href="http://eepurl.com/c7JhDj"><strong>Subscribe</strong></a> to YIMBY’s daily e-mail<br /> <br /> <a href="https://instagram.com/yimbygram" target="_blank" rel="noopener noreferrer"><strong>Follow</strong></a> YIMBYgram for real-time photo updates<br /> <a href="https://www.facebook.com/YIMBYFB"><strong>Like</strong></a> YIMBY on Facebook<br /> <a href="https://twitter.com/yimbytweets" target="_blank" rel="noopener noreferrer"><strong>Follow</strong></a> YIMBY’s Twitter for the latest in YIMBYnews</p><nav class="breadcrumb"><span><a href="https://newyorkyimby.com/category/feature-2" rel="category tag">Feature</a></span></nav></div></article><div class="mh-share-buttons mh-group"><div class="mh-col mh-1-4 mh-facebook"> <a href="#" onclick="window.open('//www.facebook.com/sharer.php?u=https://newyorkyimby.com/2024/10/mayor-eric-adams-announces-the-creation-of-greenhouse-fund-to-reduce-housing-emmissions-in-new-york-city.html&t=Mayor Adams Announces GreenHOUSE Fund to Reduce Housing Emissions In New York City', 'facebookShare', 'width=626,height=436'); 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While many of these have switched from oil to gas, this is not enough to satisfy the law.</p><p>These buildings generally lack insulation except for under the roof. As the roof is used for fire egress and requires a clear margin on the perimeter, there is little space for solar panels. Most buildings have replaced their original windows.</p><p>Heat pumps are a nice idea, but they are difficult to install in older buildings. These often do not have the necessary wiring capacity. Electric steam boilers would make conversion far easier, but these are not commonly used at present. There is the cost of electricity in NYC, one of the highest in the US. It would be more reasonable to require the standards for new construction rather than existing buildings. Places can be made carbon-free, but can people afford to live there? Will the city go after ConEd’s gas-fired district steam system in Manhattan?</p></div></div></li><!-- #comment-## --><li class="comment odd alt thread-odd thread-alt depth-1" id="li-comment-654259"><div id="comment-654259"><div class="vcard meta"> David in Bushwick | <a href="https://newyorkyimby.com/2024/10/mayor-eric-adams-announces-the-creation-of-greenhouse-fund-to-reduce-housing-emmissions-in-new-york-city.html#comment-654259">October 1, 2024 at 12:49 pm</a> | <a rel='nofollow' class='comment-reply-link' href='https://newyorkyimby.com/2024/10/mayor-eric-adams-announces-the-creation-of-greenhouse-fund-to-reduce-housing-emmissions-in-new-york-city.html?replytocom=654259#respond' data-commentid="654259" data-postid="1962413" data-belowelement="comment-654259" data-respondelement="respond" data-replyto="Reply to David in Bushwick" aria-label='Reply to David in Bushwick'>Reply</a></div><div class="comment-text"><p>Millions of NY housing units are pre-war and will need to be electrified for heating and water. Heat pumps can do this. These buildings also need insulation.<br /> My landlord renovated each unit in an 1890s building down to the studs and he couldn’t be bothered to add insulation on the exterior walls. He pays the heating, so it’s remarkably shortsighted and would have been easy and cheap. This is why government needs to be involved.</p></div></div></li><!-- #comment-## --><li class="comment even thread-even depth-1" id="li-comment-655007"><div id="comment-655007"><div class="vcard meta"> M | <a href="https://newyorkyimby.com/2024/10/mayor-eric-adams-announces-the-creation-of-greenhouse-fund-to-reduce-housing-emmissions-in-new-york-city.html#comment-655007">October 3, 2024 at 9:16 am</a> | <a rel='nofollow' class='comment-reply-link' href='https://newyorkyimby.com/2024/10/mayor-eric-adams-announces-the-creation-of-greenhouse-fund-to-reduce-housing-emmissions-in-new-york-city.html?replytocom=655007#respond' data-commentid="655007" data-postid="1962413" data-belowelement="comment-655007" data-respondelement="respond" data-replyto="Reply to M" aria-label='Reply to M'>Reply</a></div><div class="comment-text"><p>As a renter of a Pre War apartment. I pay all the utilities, so why is my landlord reaping kickbacks, he doesn’t do any updates. We have been asking for new windows for years.</p></div></div></li><!-- #comment-## --></ol></div><div id="respond" class="comment-respond"><h3 id="reply-title" class="comment-reply-title">Leave a comment <small><a rel="nofollow" id="cancel-comment-reply-link" href="/2024/10/mayor-eric-adams-announces-the-creation-of-greenhouse-fund-to-reduce-housing-emmissions-in-new-york-city.html#respond" style="display:none;">Cancel reply</a></small></h3><form action="https://newyorkyimby.com/wp-comments-post.php" method="post" id="commentform" class="comment-form"><p class="comment-notes">Your email address will not be published.</p><p class="comment-form-comment"><label for="comment">Comment</label><br/><textarea id="comment" name="comment" cols="45" rows="5" aria-required="true"></textarea></p><p class="comment-form-author"><label for="author">Name </label><span class="required">*</span><br/><input id="author" name="author" type="text" value="" size="30" aria-required='true' /></p><p 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