Posts Tagged ‘HVAC’

NY State passes bill to encourage roofs
that cut energy, reduce sewage overflows

Looking out onto the rooftops of the New York City, not only will you see solar panel systems populating the space but in the past couple years green vegetative roofs have started to become popular as well.

Green roofs offer many benefits to the environment, humans and wildlife. Green roofs, also known as “living roofs,” are essentially rooftop gardens consisting of a waterproof membrane entirely covered with a growing medium and vegetation. These roofs tend to be environmentally friendly. Research shows that mobile species, such as birds and invertebrates, co-exist on green roofs. These colorful gardens offer a home to wildlife and compensate for much of the harm done to the environment by overpopulated cities.

Green roofs also offer the following benefits:

• Vegetation and soil layers add an extra layer of insulation to roofs, reducing heating and cooling costs.
• They add usable space to the roof and increase the building’s property value.
• Vegetation and soil layers protect roof membranes from ultraviolet radiation, extending the life of the membranes up to twice as long as a conventional roof.
• The soil provides additional insulation to the roof, reducing heating and cooling costs approximately 10% to 30% and allowing the building to use smaller HVAC equipment.
• The vegetation and soil layers reduce noise from traffic, planes, machinery, and other sounds for building residents.
• The vegetation improves air quality from oxygen/carbon dioxide exchange.
• The soil absorbs rain, reducing storm water runoff.
• Reduce cooling cost by keeping the roof top at ambient temperatures
• Reduce carbon dioxide in the air
• Offer additional usable space in your building for a respite from the city

In 2008, the State of New York announced a one-year property tax credit of up to $100,000 to support Green Roof installations. Whether your facility’s plans include a roof replacement, or you are interested in helping the NY environment, consider taking advantage of this program!

Urban areas of New York generate considerably more storm water runoff than natural areas of the same size due to a greater percentage of impervious surfaces, such as roofs, that impede water infiltration. Green Roofs aid in mitigating storm water runoff, and the property tax credit is designed to improve the infrastructure of storm water management.

About the Tax Credit:

• This is a one-year property tax credit
• The Credit is for $4.50/square foot, up to a maximum of $100,000
• $4.50/s.f. can represent 20%-30% of the costs associated with building a green roof 

Who Qualifies:

• The building must be located in the state of NY with city populations of 1,000,000 or more
• The Green Roof must have at least 2″ of growing media
• The Green Roof must cover at least 50% of available rooftop space
• Building owners may apply for the credit beginning January 1, 2009 and ending December 31, 2012

A green roof is not suitable for every building. A host of factors must be considered, such as the construction and condition of the existing roof, its load-bearing capacity, zoning restrictions, and code compliance. A feasibility study should first be conducted to determine if the building is a candidate for a green roof, and if so, which type of green roofing system is most suitable for that particular building.

Green roof tax credits are available in other cities as well. Please contact us for more information.

The Author of this post, Joel E. Ackerman, CPA, is Director of Business Development for the Northeast for Engineered Tax Services, Inc. He earned a Masters degree in Tax from C.W. Post – Long Island University and a Bachelor of Science degree from Syracuse University. With over 16 years of experience in public accounting, Joel specializes in engineering-based real estate tax products such as cost segregation studies and energy efficiency studies.  He is active in the local CPA community and serves on the Board of Directors for the Suffolk County chapter of the New York Society of Certified Public Accountants. He is currently planning a series of seminars for the Suffolk and Nassau County Bar Associations on the benefits and technical aspects of real estate related tax and engineering opportunities.

                                  
June 16, 2010 from 4:00-6:00PM
Join Don McDougall for a
2 hour CPE/CE presentation
to the Orange County AIA

Location:

Belden Hutchison & Co., LLP

125 E. Baker Street, Suite 280

Costa Mesa, California  92626 

The presentation will examine, review and explore:

• How Sec. 179D rewards energy-efficient design.
• History and requirements of Sec. 179D and EPAct
  • Actual benefits to architectural firms over the past 24 months
• How minor changes in design, with small cost increases, can generate significant energy savings and related tax deductions.
  • Examples for HVAC, SHELL and LIGHTING
• How to access benefits for projects completed between 2006 and 2009
• Identifying tax deduction opportunities for clients in the private sector & how to best communicate the opportunities to clients
• Identifying & maximizing tax deduction opportunities for architectural clients in the public sector
• Maximizing benefits of EPAct for “C” and “S” corporations