A woke electric-power conversion law passed under far-left ex-Mayor Bill de Blasio would be weakened to ease the financial burden on many lower- and middle-class co-op and condo residents if a Queens pol gets her way.
Councilwoman Linda Lee told The Post she plans to introduce legislation this year exempting many co-op and condo buildings from pricey construction costs mandated in the 2019 law, which industry insiders project will exceed $260 billion combined over the next decade to meet deadlines for converting oil-burner heating systems and gas stoves to electric.
“Our city must provide a lifeline to preserve housing affordability for our most affected residents,” the Queens Dem said.
Two years ago, Lee pushed legislation with similar goals that included exempting buildings from being fined for not following the law if average units are assessed below $65,000 ($350,000 at market value), but then-Speaker Adrienne Adams blocked the bill from gaining steam.
Lee, however, said she’s “optimistic” newly elected Speaker Julie Menin will hold hearings on the new bill once it’s introduced, giving it a fair shot.
“I look forward to reengaging with my colleagues to find innovative ways to ensure we get this bill across the finish line,” Lee said.
Menin through a spokesperson declined to tip her hand but said she “looks forward to further dialogue” with other council members on the topic.
Roughly 57,000 buildings citywide face the steep conversion costs to help the Big Apple meet goals of reducing greenhouse gas emissions by 40% of 1990s-established air-quality levels by 2030 and 80% by 2050. Landlords are expected to pass much of the costs off to tenants through rent increases, while co-op and condo owners would likely absorb the hit through spikes in monthly maintenance fees.
The price-tag to covert the 15,000-unit Co-op City complex in the Bronx to electric power, for example, is projected to exceed more than $1 billion alone.
Mayor Zohran Mandani has pledged to strictly enforce the current climate law even though critics say it contradicts much of his affordable housing platform.
