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Around Town

The Energy-Aligned Lease

Thursday, Mar 15, 2012

Under traditional modified gross commercial leases, building owners are responsible for the upfront costs associated with energy improvements, while the tenants reap the immediate benefits of increased energy savings. Because of this "split incentive," building owners see little reason to invest in energy upgrades.

The Mayor's Office of Long-Term Planning and Sustainability addressed this issue head on by bringing together a task force to develop new commercial lease language that allows tenants and owners to share in both the costs and benefits of energy efficiency improvements. Don't miss this presentation and discussion on the role of "Energy-Aligned Lease" language in encouraging the development of energy efficient buildings in New York City.

After the City's brief overview of what the Energy-Aligned Lease language encompasses, panelists will discuss the successes and challenges of the new lease language in encouraging the development of more energy efficient buildings in NYC.

Sponsor: Urban Green Council

Speakers: Eric Duchon, Manager, Sustainable Strategies — Cushman & Wakefield, Inc.; Hewson Baltzell, Head of Product Development — ESG Research, MSCI; Laurie Kerr, Senior Policy Advisor — NYC Mayor's Office of Long-Term Planning and Sustainability

Moderator: Stephen Del Percio, Construction Counsel, Infrastructure & Environmental Division — URS Corporation

Date: Thursday, March 15, 6:00–6:30pm: Reception & 6:30–8:00pm: Presentation

Location: Knoll, 76 Ninth Avenue, 11th Fl

CEU's: GBCI CE Hours (LEED CMP Credits): 1.5 (anticipated); AIA Continuing Education Credit: HSW/SD 1.5 (anticipated);(AIA credits may also be used by NY State Professional Engineers and Land Surveyors — See Sections 17 & 18 here)

RSVP: Urban Green Council


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