Energy Efficiency Financing: The State of PACE & the NYC Energy Efficiency Corporation

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INNOVATIVE FINANCE: 300-level

SESSION 18

DATE // START TIME // ROOM NUMBER:

Wednesday, September 29, 2010 – 4:00pm – Metro 2C

ABSTRACT:

This panel will provide an update on the current challenges faced by the Property Assessed Clean Energy (PACE) financing model. The panel will also provide an overview of other public/private efforts currently under development whose goal will be to deploy a multi-pronged strategy to accelerate the creation of a scaled cross-sector energy efficiency retrofit market in New York City.

SPEAKERS:

Neal J. Parikh, Senior Policy Advisor, NYC Mayor’s Office of Long-Term Planning and Sustainability
Greg Hale, Senior Financial Policy Specialist, Natural Resources Defense Council
Michael Karlosky, Director, Sustainable Public Infrastructure, Wells Fargo Securities

DESCRIPTION:

It is widely recognized that difficulty accessing capital deters many property owners from retrofitting their buildings. Over the last two years, twenty-three states, including New York, have enacted legislation authorizing the development of municipal financing programs known as Property Assessed Clean Energy (“PACE”) programs. The DOE’s “Better Buildings” (aka EECBG) awards allocated over $450 million in federal funds to help states and cities set up and implement energy efficiency retrofit programs, including approximately $150 million earmarked for PACE financing. However, the Federal Housing Finance Authority (FHFA), and their regulated entities Freddie Mac/Fannie Mae, along with the Office of the Comptroller of the Currency (OCC) as regulator of the nationally chartered banks, have taken various actions this summer that have effectively halted PACE programs, leaving municipal governments scrambling to develop alternative efficiency retrofit financing programs.

Greg Hale will provide an update on the current status of the federal impasse with respect to PACE residential and commercial programs, in the aftermath of this summer’s regulatory actions, and will discuss the current strategies to rescue PACE programs through federal legislation, litigation and possible negotiated solutions. He will also present an economic cost/benefit analysis which analyzes the risk from PACE to existing mortgage lenders in the context of the economic activity that would be generated by the PACE-financed retrofits.

Michael Karlosky will then discuss PACE Commercial programs from the perspective of a lending institution, including a look at the prospects for PACE Commercial in light of the recent OCC bulletin, and his thoughts on how a financial institution might develop an internal set of metrics to apply when asked to subordinate an existing commercial loan to new PACE financing.

Finally, Neal Parikh will provide a perspective on PACE Commercial from Mayor Bloomberg’s Office of Long Term Planning and Sustainability – including concerns that would need to be overcome in Albany. He will also discuss the City’s other efforts, in collaboration with philanthropic and private actors, to help finance a range of retrofit transactions in NYC, while also focusing on local demand generation and economic and workforce development that will be necessary to create a full scale multi-sector energy efficiency retrofit market in NYC. These efforts aim to create a potential model for municipalities that seek to leverage committed federal resources with private capital in order to scale up a local retrofit market in the service of public goals without additional public cost.

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Valuing Green Design

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INNOVATIVE FINANCE: 300-level

SESSION 15

DATE // START TIME // ROOM NUMBER:

Wednesday, September 29, 2010 – 4:00 pm – Altman Gallery

ABSTRACT:

An exploration of the financial value of, and underwriting guidelines for, green buildings.

MODERATOR:

Daniel Winters, Managing Director, Evolution Partners

SPEAKERS:

Doug Lawrence, Managing Partner, Five Stone Green Capital

Additional speakers TBA.

DESCRIPTION:

An exploration of the financial value of, and underwriting guidelines for, green buildings. Representatives from private equity investment firms and lending institutions will discuss how they assess the additional value of green buildings and how this influences the structure of their investment and lending policies. The session will be moderated by Daniel Winters, Managing Director of Evolution Partners and Vice Chair of Capital Markets Partnership, the non-profit responsible for the ANSI-certified Green Building Underwriting Standards.

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Mid-Century Buildings Transformed

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HIGH PERFORMANCE CASE STUDIES: 300-level

SESSION 16

DATE // START TIME // ROOM NUMBER:

Wednesday, September 29, 2010 – 4 pm – Metro 2A

ABSTRACT:

Two mid-century structures in Chicago and Washington DC are transformed into  high-performance buildings, effectively repositioning them for today’s market.

MODERATOR:

Susan Szenasy, Editor, Metropolis Magazine

SPEAKERS:

Stephen Apking, Interior Design Partner, Skidmore, Owings & Merrill LLP
Kevin Cahill, Associate Director, Skidmore, Owings & Merrill LLP
Rod Garrett
, Director, Skidmore, Owings & Merrill LLP
Peter Lambis
, Vice President, Project and Development Services, Jones Lang LaSalle

DESCRIPTION:

Retrofitting urban buildings has the most influential environmental impact since it greatly reduces the volume of waste materials sent to landfills as well as materials and labor associated with new construction. It also transforms mid-century existing building stock with lower energy efficiency standards into high-performing buildings, benefiting the occupants and owners. Most importantly, it repositions buildings for today’s market. The panelists will explore two projects: the Inland Steel Building in Chicago and 1801 K Street in Washington, DC.

The Inland Steel study is driven by an “inside-out” perspective; modifications to the flexible nature of the interior environment were key drivers in the local market. At 1801 K Street, it was an “outside-in” approach; the curb appeal and exterior design of this twentieth century building was of significant importance.

Inland Steel Building

The Inland Steel Building, constructed 1956-1957 in Chicago, exemplified the new organizational business methods of a strong postwar economy, with each building component separately articulated for its particular function. In the same spirit of innovation, the building is being comprehensively renovated and reconceived. This retrofit, was designed as the first triple LEED platinum certification for renovation, Core and Shell, and Commercial Interiors.

1801 K Street

In late 2005, Somerset Partners acquired 1801 K Street, a property located along the prominent K Street corridor in Washington, DC. The building was constructed in 1968 for use as medical offices. Reflecting the original program use,  the façade consisted of long and narrow glazing units spaced five feet apart, and was in need of an upgrade. A new façade was installed over the old, while 75 percent of the tenants remained in place. This approach not only diverted a significant amount of construction material from landfills, but also greatly improved the building’s energy performance. The quality of the indoor environment was also enhanced through increased daylight and less air infiltration.

Each case study highlights the ability to transform a mid-century structure into a high-performance building and does do so in a way that repositions the building’s market value by responding to local real estate demands. Both have different approaches to the same end objective.

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Scaling up in NYC: Achieving Deep CO2 Reductions in Large Portfolios

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OPERATIONS & PERFORMANCE: 300-level

SESSION 17

DATE // START TIME // ROOM NUMBER:

Wednesday, September 29, 2010 – 4:00pm – Metro 2B

ABSTRACT:

This session focuses on New York City’s “big picture” strategy to reduce energy consumption and greenhouse gas emissions from municipal buildings, universities, and hospitals, as well as progress to date from practitioners in the field.

MODERATOR:

Ariella Maron, Deputy Commissioner for Energy Management, City of New York

SPEAKERS:

Mike Dipple, Director of Operations and Maintenance, Department of Energy Management, City of New York
Paul Schwabacher, Senior Vice President of Facilities, New York University Langone Medical Center
Cecil Scheib, Director of Energy and Sustainability, New York University

DESCRIPTION:

PlaNYC included an initiative for a 30% CO2 reduction from New York City government operations in 10 years, representing 6.5% of citywide emissions. It also included a challenge to New York’s universities and hospitals to match the government’s goal. 17 universities representing 39 campuses have signed on, as have 13 hospitals. After only a few years, there have already been some impressive results.

Ariella Maron will introduce New York City’s long-term sustainability plan, PlaNYC, and give an overview of New York’s efforts to achieve the 30% footprint reduction. In addition, she will discuss the City’s Division of Energy Management and its data-driven, integrated approach to energy management for the City’s 4,000 buildings, as well as efforts to reduce emissions from city fleets, wastewater treatment plants, and energy supply.

Mike Dipple will discuss improved operations and maintenance procedures as well as advanced metering capabilities at New York City facilities. He will also introduce the tools, checklists, and Energy Management Plans being developed as part of the comprehensive Operations & Maintenance Program for City facilities, discuss the lessons learned from a year-long pilot O&M program, and highlight both challenges and successes with the program rollout.

A speaker from New York University will review New York City’s University Challenge initiative launched in 2007. 17 universities have committed to reducing greenhouse gas emissions 30% in 10 years, and have created Action Plans (including creating and maintaining an inventory of their CO2 emissions) for achieving their reduction targets. NYU joined the Challenge in 2008 and is expected to reach its 30% reduction by December 2010, a full eight years ahead of schedule.

Paul Schwabacher will discuss progress to date on the City’s Hospital Challenge launched in May 2009, and now includes 13 of New York City’s largest hospitals.

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Innovative Software: Tools that Support Integrated Design

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INTEGRATED DESIGN PROCESS: 300-level

SESSION 19

DATE // START TIME // ROOM NUMBER:

Wednesday, September 29, 2010 – 4:00pm – Metro 4A

ABSTRACT:

This session will discuss the capability and use of analytical tools used during the design process to develop low-energy solutions for the urban environment. Case studies will demonstrate how these tools are used in small and large projects to gain insight into the environmental impact of facades and related building systems.

MODERATOR:

Matthew Herman, Associate, Buro Happold

SPEAKERS:

Peter Krebs, Chief Technology Officer, Sefaira

Cramer Silkworth, Transsolar

Shillpa Singh, Senior Sustainability Manager, YRG Sustainability Consultants

Erin Rae Hoffer, Architect, Industry Strategist, Autodesk

DESCRIPTION:

Understanding the flow of energy through building envelopes requires designers to conceive their façade at multiple scales ranging from the microscopic impact of specific materials, to the long- term environmental impact of carbon emissions related to a global supply chain. Numerous analytical tools have been developed over the years to assist designers in studying the impact of their decisions.

Recently these tools have become more integrated with the design process, allowing additional insight into the environmental impacts of facades and related building systems. This session will discuss the capability and use of analytical tools used during the design process to develop low- energy solutions for the urban environment.

The session will begin with an overview of analytical tools used by designers to address sustainable ratings ordinances and mandated energy and carbon reductions in the urban environment. Participants will learn how innovation can provide the basis for informed decision-making and new behaviors on the part of the entire project team – architecture and engineering firms government, facility, design, and construction departments; and energy service companies to support true performance improvement.

Case studies will demonstrate how these tools are used in a quick and dynamic manner to address energy and comfort issues by studying wall and window properties including shading systems, thermal mass and natural ventilation. These same concepts will also be demonstrated at a much larger scale through the testing and development of a façade performance specification for a 30,000-acre master plan where design flexibility, energy, and comfort had to be balanced.

The use of analytical software will be demonstrated to show how it was applied in the design of a sustainable community to select optimal strategies, including state-of-the-art envelope material and site-wide energy generation. Panel members will also discuss their experiences in software development and design consulting as it relates to envelope systems, energy management, and the design process.

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Integrated Design Case Studies: Europe

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HIGH PERFORMANCE CASE STUDIES: 300-level

SESSION 14

DATE // START TIME // ROOM NUMBER:

Wednesday, September 29, 2010 – 4:00pm – Altman B

ABSTRACT:

While advances in building technology and professional education programs have tended to fragment the design industries, Integrated Design concepts reveal a growing commitment to improving the built environment through a more holistic and process-oriented design approach.  This panel will present a series of pioneering European building designs inspired by these ideas.

MODERATOR:

Mitsu Edwards, Structural Engineer, Project Director, RFR Consulting Engineers

SPEAKERS:

Peter Arbour, Facade Architect, Project Manager, RFR Consulting Engineers
Scott Severson, Project Architect, Morphosis Architects
Merritt Bucholz, Principal, Bucholz McEvoy Architects
William Logan, Senior Principal, Israel Berger and Associates

DESCRIPTION:

Integrated Design has been growing in fits and starts for many decades, though only today are the regulatory and economic motivators demanding that designers and developers respond to the pressures of what may otherwise seem common sense.  The practice of façade and curtain wall design, though young relative to the basic disciplines of structural engineering and architecture, is the field in which Integrated Design is making the most direct impact on our design practices and our buildings.  The experts of the panel will be available for what promises to be a lively discussion of the issues of Integrated Design as they relate to these projects and to professional practitioners around the world.

Mitsu Edwards and Peter Arbour will present the work of RFR Consulting Engineers, a Paris-based bureau d’etude founded by the late Peter Rice, which has specialized in the integration of architecture and engineering practices since the early 1980s.  Since its inception, RFR’s work has been characterized by a multi-disciplinary approach, bringing the collaborative and contradictory priorities of architects and engineers together within each project design team.  RFR – with international offices in Paris, France; Stuttgart, Germany; Shanghai, China; and Abu Dhabi, UAE – has been in the vanguard of envelope consulting with the inclusion of environmental, structural, and architectural innovations in its approach to every project.  The continuing expansion of disciplines within RFR has kept the company at the cutting edge of Integrated Design and its methodologies as practiced in Europe and throughout the world.

In recent years, RFR has been the façade consultant of the Tour Phare at La Defense in Paris by Morphosis Architects and the Elm Park Development in Dublin, Ireland by Bucholz McEvoy Architects.  Both projects will be discussed in detail with their respective architects.

Morphosis Architects will present their 300-meter Tour Phare tower for La Defense, Paris.  The project, laureate of a high-profile international design competition in 2007 is slated to begin construction in 2011.  Beginning with the competition entry and continuing throughout its development, the design of the tower has been guided by the precepts of Integrated Design, successfully negotiating the constraints of stringent environmental regulations, demands for user comfort, and a stunning architectural ambition, all within the context of the costs and risks of a large-scale, urban development.

Merritt Bucholz will discuss the work of his firm, the Dublin- and Berlin-based Bucholz McEvoy Architects, and, in particular, the Elm Park Development in Dublin, Ireland.  This prize-winning, mixed-use project comprises nine buildings, and has successfully realized an ambitious agenda of strategic siting, enhanced use of natural daylight and natural ventilation, and a radical reduction of energy consumption by mechanical systems.  A masterful example of architectural beauty and environmental performance, Elm Park stands as a challenge to designers of all disciplines.

William Logan is among the foremost building envelope designers in the world today.  As the Design Partner of Israel Berger and Associates, he has designed façades for Renzo Piano, Herzog de Meuron, Cesar Pelli and many other prominent, international architects.  He will present several of his projects that embody the principles of Integrated Design, from the Centre Pompidou in Paris, France to the new Columbia University Campus in New York City.

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Geothermal Applications in an Urban Context: A Study of Options and Lessons Learned

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HIGH PERFORMANCE CASE STUDIES: 300-level

SESSION 20

DATE // START TIME // ROOM NUMBER:

Wednesday, September 29, 2010 – 4:00pm – Metro 4B

ABSTRACT:

Case studies explore the realities of integrating geothermal systems in new and existing buildings throughout New York City. Projects to be discussed include: Knox Hall at Columbia University, the Esquire Building condominiums in Brooklyn, the General Theological Seminary, Times Square’s TKTS, and the Queens and Brooklyn Botanical Gardens.

MODERATOR:

Margaret Castillo, Principal, Helpern Architects and President-Elect, AIA New York Chapter

SPEAKERS:

John Rhyner, Senior Project Manager, P.W. Grosser Consulting
Alex Posner, Project Director, Office of Sustainable Design, NYC Department of Design and Construction
Tate Rider, Senior Project Manager, Renewable Energy, NYC Economic Development Corporation
John Rice, Partner, AKF Consulting Engineers
Luke Falk, Associate Project Manager, Multifamily Performance Program, NYSERDA

DESCRIPTION:

Is geothermal is the readily-available alternative energy source that everyone’s been waiting for, or just a big hole you make in the ground that swallows your money? This session seeks to reconcile these two views, identify opportunities as well as problems, and enable the audience to determine whether or which of the geothermal options is right for a project.

Despite its recent popularity, only one-third to one-half of proposed geothermal systems are built. The panel will present varied case studies that explain why and what had to be overcome. Case studies include  Knox Hall at Columbia University, the Esquire Building condominiums in Brooklyn, General Theological Seminary, Times Square’s TKTS, and the Queens and Brooklyn Botanical Gardens.

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Location & Hours

Metropolitan Pavilion &
The Altman Building
125 West 18th Street
New York City 10011



Exhibit Hall Hours:
Day 1: 10 am to 7 pm
Day 2: 10 am to 5 pm

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