Join BE-Ex and NRDC for the latest in our CMA Series—an in-depth discussion of J-51 R, the newly reformed property tax exemption and abatement program, and how it can be a critical tool for funding the building improvements needed to meet LL97 emissions mandates.

With LL97’s compliance deadlines and financial penalties already in effect, and the J-51 R program set to expire in June 2026, the urgency to act is high. Industry stakeholders are actively advocating for the extension of J-51 R, emphasizing both the breadth of work it supports and the underinvestment challenges many buildings face. Now is the time to take full advantage of this impactful program before it sunsets.

We’ll explore J-51 R can be leveraged to fund essential upgrades—like high-performance windows, heating system improvements, and structural repairs—helping to meet LL97 goals while maintaining long-term affordability for owners and tenants.

Our expert presenter and panelists will discuss and share:

• The basics of J-51 R and how it provides financial relief for building retrofit projects;
• How J-51 R supports LL97 compliance and aligns with emissions reduction targets;
• Key application timelines, including deadlines for work completed before December 30;
• The current status of draft rules and what owners need to know while applications are open;
• Enhanced tenant protections under J-51 R to maintain affordability during renovations; and
• Strategies for combining J-51 R with other programs and incentives.

In addition to J-51 R, we’ll discuss Property Assessed Clean Energy (PACE) financing, a valuable program that allows building owners to fund energy efficiency and renewable energy improvements through property assessments. Learn how the recently introduced PACE bill could further support building owners in securing long-term financing for the retrofits needed to meet LL97’s stringent requirements.

With the 2025 compliance deadlines approaching quickly, understanding these financing mechanisms will be crucial for ensuring your building can meet the City’s climate goals without breaking the bank.

Opening Remarks:

Kathleen Schmid, Deputy Executive Director, NYC Mayor’s Office of Climate & Environmental Justice

Moderator:

Kyle Madden-Peister, Senior Legal Associate, NYCEEC

Speakers:

Tricia Dietz, Assistant Commissioner, Housing Incentives, NYC Department of Housing Preservation & Development
Michael Doty, Senior Director of Originations for New England and New York