Amended in December 2013, the New York City Green Roof Tax Abatement is now available through March 15, 2018. NYC’s S.W.I.M. (Stormwater Infrastructure Matters) Coalition reminds us that the application deadline is March 15, 2014.
In addition to recent modifications to the definition of a greenroof (e.g., adding native and agricultural plant species to the list of “live plants”), a nominal increase in the value of the abatement was recently raised from $4.50 per square foot of greenroof to $5.23 per square foot of greenroof plus doubling the per-project cap from $100,000 to $200,000 – see Bill AB7058 for more info.
“Beginning with tax years commencing on or after July 1, 2014, and ending on or before June 30, 2019, the tax abatement is increased from $4.50 per square foot to $5.23 per square foot of a green roof, provided that the amount of the abatement does not exceed the lesser of $200,000 (an increase from $100,000) or the tax liability of the eligible building in the tax year in which the abatement is taken.
The amount that can be spent in any one year on the abatement program is capped at $750,000 in City fiscal year 2015 and $1 million in City fiscal years 2016, 2017, 2018, and 2019. The aggregate amount of abatements will be allocated by the New York City Department of Finance among eligible applicants on a pro rata basis.” ~ CCH
S.W.I.M.’s Coordinator, Rob Crauderueff, has an article on the subject featured in the current edition of the Green Roofs for Healthy Cities publication, the Living Architecture Monitor – see a PDF here or view the entire Living Architecture Monitor Spring 2014, Revitalization issue here. Rob highlights S.W.I.M.’s success in encouraging the New York City’s Green Infrastructure Plan and outlines considerations to improve implementation of the Green Roof Tax Abatement Program.
Live in NYC and want to apply? Read the 1 RCNY §105-01 Requirements for the approval of a property tax abatement application for the installation of a green roof here. (By the way, not to worry but the NYC’s main Green Roofs page erroneously says the program has expired – they need to update it!)
S.W.I.M. is a coalition dedicated to ensuring swimmable waters around New York City through natural, sustainable stormwater management practices in our neighborhoods. This approach is environmentally and fiscally responsible because it utilizes stormwater, currently viewed as waste, as a resource.
- How we work: Our members gather for a public meeting six times a year, every other month. We have a steering committee that also meets six times a year, on the alternating months. In this way, the activities of the steering committee are informed by and communicated with the larger coalition. In our January 2011 public meeting, we formed committees in the following four areas:
- Green Roof Tax Credit – to coordinate member interest in strengthening the existing Green Roof Tax Credit and future Green Infrastructure incentives
- Workforce Development – to support existing and future job training, certification and labor initiatives relating to Green Infrastructure
- Public Notification – to focus on specific, creative strategies for protecting public health at the water’s edge
- Fundraising – to develop S.W.I.M. Coalition capacity and support its organizational stability ~ S.W.I.M.
For more information on the NYC Green Roof Tax Abatement program, please contact Kevin Dahms at KDahms@dep.nyc.gov.
~ Linda V.