Good for Enviros, Chore for Landlords

The newly passed stimulus bill's sustainability elements are blessings for green builders and environmentalists. As far as commercial property owners are concerned, however, those elements may be seen as too much work for little benefit.
February 4, 2009, 10am PST | Judy Chang
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"The $819 billion stimulus bill that passed a vote in the House on Jan. 28 would help landlords invest in alternative energy systems for onsite power generation, but the plan's other green components are aimed at homeowners, federal buildings, schools and new product development.

Commercial property owners who want government assistance or at least tax breaks to offset the cost of better insulation, power-saving light fixtures or high-efficiency heating, ventilation and air conditioning can appeal to city and state government programs, which will receive block grants under the stimulus program. The programs funded by those grants will vary by location, [vice president of advocacy at the Building Owners and Managers Association International Karen] Penafiel says.

'With the block grants to the states, there may still be opportunities at the state level to direct some of that money to energy efficiency in buildings,' she says. "There's a lot of discretion for the mayors on how to spend that funding."

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Published on Monday, February 2, 2009 in National Real Estate Investor
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