N.Y. Private Housing Finance Law § 84-a: Additional supervision and regulation of housing companies

§ 84-a. Additional supervision and regulation of housing companies.

The commissioner shall require that every company file with him, within

six months of the effective date of regulations implementing this

section and in such format as the commissioner shall prescribe an energy

audit report which identifies potential energy-saving building

improvements, including alterations, modifications and adjustments to

the building structure, heating, cooling, lighting and ventilation

systems; their relative costs; potential energy and cost savings; and

simple payback periods, which for the purpose of this section shall mean

that period of time within which the estimated cost of such

improvements, exclusive of the cost of capital, would be recovered from

the savings generated by reduced energy consumption resulting from the

improvements. The energy audit shall be conducted by a public utility,

an engineer or architect licensed by the state, or the managing agent or

other representative of the company. A copy of the energy audit report,

required herein, shall be given to any duly constituted tenant's

association or cooperator's advisory council and a copy shall be

available for inspection and copying by any individual tenant who

requests it. The commissioner shall also require that every company

certify by March thirty-first, nineteen hundred eighty-four that all

compatible conservation measures identified in the energy audit report

which have simple payback period of one year or less have been

implemented; provided, however, if the commissioner determines within

sixty days of the date the energy audit report is filed that one or more

of such identified conservation measures cannot be implemented by March

thirty-first, nineteen hundred eighty-four, given the projected rent

revenues and any other monies available to the company from reserve

funds, loans or grants from the state or federal government or any other

source, the implementation of such conservation measures shall be

provided for according to a schedule prescribed by the commissioner.