Local Law 97 Objectives with CastleGreen/C-PACE Financing: NYC’s Local Law 97 (LL97) is legislation that was passed as part of NYC’s Climate Mobilization Act to reduce carbon emissions in the City’s commercial buildings. LL97 establishes stringent carbon emission limits for existing buildings, while establishing sustainable energy guidelines for new building construction projects. CastleGreen Finance is well positioned to finance projects in compliance with NYC’s carbon emissions reduction requirements and green sustainable energy initiatives. The city-wide goal is to reduce total carbon emissions by an ambitious 80% by the year 2050, requiring all NYC buildings to comply with established green energy parameters, and emissions curtailments through the implementation and retrofitting of energy efficiency and conservation measures. Sustainable energy efficiency projects include the installation of energy efficient lighting alternatives, high performance HVAC systems, solar photovoltaic (PV) systems, high tech energy management systems, reflective glass windows and wall/roof insulation. All of the above mentioned energy efficiency improvement with reduce carbon emissions, resulting in a clean environment.
CastleGreen Finance is Local Law 97 approved as eligible low-cost loan provider under C-PACE (Commercial Property Assessed Clean Energy) program specifically for clean sustainable energy projects, lowering overall development costs by offering lower cost capital for the implementation of sustainable green energy renovations, retrofitting, and new constructions. CastleGreen Finance can provide the funding for Local Law 97 compliance projects.