Category: Green Building

Green Building Financial Incentives in New York @ Paper this Deal

I’ve done a quick post on these before, but believe these incentives need a more detailed analysis.

Business owners considering the construction of a new building or the substantial renovation of an existing building should consider using green building practices to capitalize on the economic incentives available.

While these incentive programs are not always well known or publicized, they can lead to substantial savings, both initially and throughout the life of the building.

These hard and fast savings when combined with the other benefits of green building—energy savings, increased foot traffic, higher rents, positive public relations, increased employee morale, productivity, and reduced sick days, among others—make the use of green building practices beneficial.

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Obama’s Better Building Initiative – Green Building @ Paper this Deal

On Monday, President Obama unveiled his $3.8 trillion budget for next year 2013.  A huge amount of money is proposed for clean energy and infrastructure improvements, to stimulate the economy.

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Green Building – Financial Incentives @ Paper this Deal

Whether you are considering a new construction project, substantial renovation, or the operations and maintenance of an existing building, the benefits of incorporating green building and sustainable practices should not be overlooked.  There are incentives on the federal, state and local level for building green and these should be factored into a project in the early planning stages to maximize benefits.  The federal government offers a deduction available through 2013 known as the Commercial Building Tax Deduction, which grants a tax deduction based on energy efficient improvements installed in the building envelope, HVAC system and lighting system.  The State of New York offers the Green Building Tax Credit, which is potentially available for buildings that meet certain green building regulations.

Also available are various other grants and incentives related to energy efficiency and use of sustainable energy in new and existing buildings.  In addition to the incentives discussed above, there are numerous other green building issues which should be considered including green lease provisions, green bonds and other financing mechanisms, and contracting issues with respect to design professionals and contractors involved in green building projects.

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