The slice of the billions of dollars in federal money outlined by the
Treasury Department in the stimulus package signed by President Obama
in February will come to New York City largely as incentives to improve
energy efficiency and transportation infrastructure, according to Urban
Land Institute President Richard Rosan, who spoke to a group of around
40 people today at a monthly Association of Builders and Owners of New
York luncheon. Since the city will have a maximum of only 15 percent new building
stock by the year 2030, according to the institute, federal grants and
tax breaks for environmental efficiency improvements are likely to come
to New York in the form of renovations, Rosan said, referring to the
retrofitting of existing office buildings to qualify for LEED
certification. [more]