NEW YORK-- New York City building owners who install vegetation on at least half of their rooftop space may receive up to $100,000 in a one-time property tax credit.
Bill A.11226 passed the state legislature Tuesday, paving the way for building owners to be compensated about $4.50 per square foot of green roof space, or about a quarter of the cost typically associated with a green roof’s materials, labor, installation and design.
A proliferation of green roofs could save America’s most populous city millions of dollars in energy cooling and stormwater management costs, as well as jumpstart the creation of green collar jobs, say proponents of the bill.
"Each 10,000 square-foot green roof can capture between 6,000 and 12,000 gallons of water in each storm event," said Paul S. Mankiewicz, Gaia Institute executive director and New York City Soil and Water Conservation District board. "This is rainfall that will never enter the combined sewer. At the same time, the evaporation of this rainfall will produce the equivalent of between 1,000 and 2,000 tons of air conditioning, enough heat removal to noticeably cool 10 acres of the city," he added. "This is a management practice that increases biodiversity and can literally add enjoyable landscape to all the boroughs of New York."
Building owners can apply for the credit January 1, 2009. Unless it is extended, the pilot program will run through March 15, 2013.
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