At a packed hearing last week, the New York City Council opened debate on a controversial new bill called Intro 1253 that has major implications for most co-op and condo boards in the city. The bill, sponsored by councilman Costa Constantinides, a Queens Democrat, proposes new carbon emissions caps and energy performance requirements for large buildings starting in 2022. Its goal is to reduce carbon emissions from buildings, the city’s worst polluters, by 40 percent (from 2005 levels) by the year 2030. The elephant in the room is this: how will co-op and condo boards pay for retrofits the bill would require?     Read the article…………………