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New ULI NY Report: Reimagining Montefiore Einstein-Morris Park as a Transit-Connected Campus
Report describes neighborhood-focused strategies to boost connectivity, wellness, and jobs in and around the Montefiore Einstein Morris-Park
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SOLD OUT: ULI New York: Inflation Reduction Act: Implications for Real Estate
Over Climate Week we shine a light on The Inflation Reduction Act (IRA). The bill strengthens the business case for real estate decarbonization, for the faster payback it brings. Passed in 2022 following months of negotiation, the IRA dedicates nearly $370 billion to address climate change over the next 10 years.
ULI New York has assembled an impressive panel which will give an overview of the bill's relevant provisions for the real estate sector, from the big national to local technical perspectives on provisions linked to LL97 requirements. We will also present real projects and ways to reap real savings for upcoming development projects – and offer the opportunity to meet with other IRA experts and hear of resources to support tax credit integration into future projects:
• Introduction – Moderator Marta Schantz of ULI HQ’s Lewis Sustainability Center
• Deep Dive on IRA tax credit provisions – Presentation by Ben Evans, Federal Legislative director, U.S. Green Building Council
• Technical Perspective on IRA provisions to help meet LL97 – Molly Dee-Ramasamy, director, JB&B Deep Carbon Reduction Group
• Real Estate Hypothetical Discussion on how IRA provisions might make sense for existing retrofits/development projects – Danielle Spiegel-Feld, director, Environmental Strategy, Hines; Zach Allen, vice president, Investment Management, The Michaels Organization
About the Inflation Reduction Act:
The Inflation Reduction Act (IRA) was passed by Congress in 2022. It provides real estate owners and developers with lucrative tax incentives and offers significant savings for projects of all sizes. Incentives include the enhancement of the 179D Deduction for Energy-Efficient commercial buildings, and the extension and enhancement of the 45L New Energy-Efficient Home Tax Credit. For larger projects, these incentives can translate into millions of dollars in tax savings for developers, investors, property owners, and investors. Even small projects may be good candidates for significant savings for upcoming projects. Developers, the construction industry, and multifamily housing owners, among others, are all eligible for these historic savings.