Eligible co-op boards facing skyrocketing maintenance charges due to rising energy costs can seek assistance from the New York Energy Smart Assisted Multifamily Program (AMP), administered by the New York State Energy Research and Development Authority (NYSERDA).
AMP is a flexible program that provides a range of technical and financial incentives to affordable multifamily properties in New York. The incentives trigger investment in capital projects involving energy efficiency improvements. AMP's goal is to improve the energy efficiency and energy management of these buildings, while reducing energy cost burdens on low- and moderate-income tenants.
The program targets both co-op and rental properties, and tailors its approach and creative energy solutions to the type and needs of a property.
Through AMP, property owners and co-op boards receive a consulting package valued in excess of $12,000, including a comprehensive energy audit. In addition, AMP offers access to low-interest financing, assistance in identifying additional sources of funding, and, in some cases, grants. Grant size varies depending on the scope of work and financial condition of the property.
Improvements may include upgrading lighting in common areas and residences with compact fluorescent lighting, replacing refrigerators with Energy StarÂ® qualified units, replacing old or inefficient heating systems with high-efficiency units, improving ventilation, providing carbon monoxide detectors, adding water-saving devices, and installing new windows and doors.