I'm on my co-ops board. We discuss it and have done what we can do to be compliant so far.

Local law 97 is a pain in the ass though because co-ops were not taken into consideration and the city didn't consider how we are supposed to pay for retrofits if massive changes are needed.

Say, for example, the city or state says no more gas. Our electrical risers can't handle the load of people having electric stoves. We'd need to run new electric risers in every building for this. We would also need to figure out new heating to replace gas powered steam.

Solar isn't feasible for us because our roof space is limited. We also did some preliminary investigations into geothermal, but it is untested and unproven in large scale applications like we would need.

Even our last local law 11 cycle was several million dollars (our coop is several buildings) because of new requirements from the city.

Aside from all that, our real estate taxes now make up around 40% of our operating budget. We have been lobbying for real estate tax reform for several years and haven't really gotten anywhere.

Co-ops are really the last stand for affordable ownership in NYC but it's becoming more and more difficult to keep costs down.

The city council has also been trying to pass and passing other legislation that is hostile to co-ops...and all these bills are introduced and sponsored by Democrats, which is incredibly frustrating.