The “revolutionary” green bond financing for the ambitious Destiny USA mega-mall project in Syracuse, New York may lose its tax-exempt status because the developer has failed to incorporate certain green design features as promised in its application to the IRS for the exemption.
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A recent study published in the Forest Products Journal identifies a lack of FSC-certified wood products as creating a green construction “bottleneck,” and calls on USGBC to open up its MR-7 Certified Wood credit to alternative forest certification regimes.
In a decision with implications for owners and lenders, the Appellate Division for New York State’s Fourth Department recently upheld a preliminary injunction in favor of the Destiny USA development in Syracuse based explicitly on the project’s green features.
A new law in Southampton that would require all new pool heaters to be solar-powered is facing stern opposition from industry groups.
Based in what it believes is prime wind energy country upstate, the company plans to move into the fledgling market for smaller scale, residential wind turbines beginning this fall.
The program is offered through NYSERDA and offers interest rate deductions on loans supporting energy efficiency improvements to real property.
Proposed amendments to New York State’s Brownfield Cleanup Program Act could significantly increase the amount of available tax credits for Empire State developers.