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Contracts for Green Buildings: Solving the Split Incentive Problem and Contracting Well for Green Performance

Recorded on: Aug. 9, 2012
Running Time: 01:04:46

Taken from the briefing Contracts for Green Buildings: Solving the Split Incentive Problem and Contracting Well for Green Performance recorded August, 2012.

With the increased popularity of LEED-certified buildings and other green aspects of building, contracting or leasing for green has increased in complexity.  Many commercial leases are structured in a manner that actually discourages energy saving improvements, and we will discuss a modified lease that instead grants both landlord and tenant positive green incentives.  Moreover, when contracting for the provision of green space, whether for new buildings or existing space, many are relying on the general framework of LEED, but that lack of specificity may lead to disappointment.  We will discuss how to contract for green aspects using LEED but also good lawyering to also provide for specific building improvements that both parties intend to see delivered.

Stanley N. Alpert is a Partner at Constantine Cannon LLP and the former Chief of Environmental Litigation at the U.S. Attorney's Office, Eastern District of New York.  He is a LEED Green Associate and he combines commercial and environmental skills to advise and litigate for companies whose businesses profit from positive environmental performance.

Paul Reale is a Special Consultant to Urban Green Council where he is leading the outreach of the Energy Aligned Clause. He also teaches architects and engineers about NY State Energy Conservation Construction Code and building operators and managers about green operations and maintenance.  He is a LEED Accredited Professional and has a Masters of Engineering.

Lecture Topics  [Total Time: 01:04:46]

  • Many commercial leases require the landlord to pay for capital improvements and the tenant to pay operating expenses. When it comes to projects that save energy, this creates the split incentive problem, because the energy savings cannot be used to pay down the capital expense. Thus energy-saving projects are often left undone. The Energy Aligned Clause creates a win-win for landlord and tenant so that they share in the energy savings.
  • LEED is a rating system that provides a variety of ways to achieve a given level of green certification.  This means that a LEED-certified building could end up with, for example, a different level of energy efficient performance than the buyer or tenant may have hoped for.  We will discuss contracting not just for LEED but also for specific deliverables so that the parties are satisfied.
  • Avoiding litigation over dashed expectations

Presentation Material 

  • Contracts for Green Buildings: Contracting Well for Green Performance
    Stanley N. Alpert
  • The Energy Aligned Clause: Solving the Split Incentive Problem
    Paul Reale
Speaker(s)
Stanley N. Alpert ~ Constantine Cannon LLP
Paul Reale ~ Urban Green Council

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