QUESTION
What was the impact of the new HPD lead laws enacted after 2019 on applications for lead abatement work?
1:02:36
·
112 sec
There were close to zero applications for lead abatement work even after the new HPD lead laws went into effect after 2019.
- The new lead laws imposed additional requirements on building owners.
- There was a real decline in usage of the J51 tax incentive program.
- The J51 program's cost schedule is outdated.
- The J51 program expired in 2019, with work required to be completed by mid-2022, making it inactive.
Pierina Ana Sanchez
1:02:36
So I I did ask about the lead lead abatement repairs.
1:02:39
So you mentioned that the lead abatement repair was close like next to 0 applications that came in, including lead abatement work.
1:02:49
Is that also true after the new HPD well, the new lead laws went into effect after 2019?
Kim Darga
1:02:58
Yeah.
1:02:59
It is true.
1:03:00
And, I mean, again, it's not clear why.
1:03:03
Right?
1:03:03
You have the new led laws that certainly impose additional requirements on building owners.
1:03:11
You know, I think also at the same time that you have these new laws.
1:03:15
We also had a real decline in j51 usage.
1:03:19
Again, and I think this gets to, like, the cost schedule has come just is stale.
1:03:25
Right?
1:03:26
It and not only that, the program expired in 2019.
1:03:31
People had to have completed work by mid 2022.
1:03:34
And so it really is not an active program anymore.
1:03:39
And so it's hard to tell how much of this is you know, with the new lead laws, would there be more applicants?
1:03:46
It's hard to tell because we just we don't work not working with a program that is really up to date.
Lucy Joffe
1:03:54
Okay.
Pierina Ana Sanchez
1:03:57
Thank you.
1:03:57
I'm just reflect thing that I mean, in the new version of the program as as you as HDD is proposing to update the cost schedule, it would be very interesting to see, you know, the if there is uptake for for let abatement work, especially because we hear so many complaints about how expensive that is, and you can cover up to 70 70% of the cost through a j51 incentive.
1:04:22
K.
1:04:27
Okay.