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New York

City plans incentives for green building

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A panel at a green building forum organized by the Downtown-Lower Manhattan Association and Downtown Alliance said the city wants to create a $2.4 billion incentive pool to get buildings retrofitted over the next eight years. The panel, which represented the city and real estate industry, said the plan could reduce electricity costs by nearly 20 percent by 2015. One city representative said that at some point over the next 20 years or so, buildings that don’t comply with green standards could be penalized.