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Owners are required by ordinance to perform annual energy performance audits through EPA's Energy Star Portfolio Manager and provide that information to current or prospective tenants, buyers or lenders involved in a real estate transaction, lease or application for financing or refinancing the building.
By requiring owners and managers to permit the city to download the information, the city can monitor progress in achieving efficiency goals, pinpoint market sectors with the most needs and opportunities and help guide development of future policies and incentives. The measures also will, the city says, yield a more informed market with the ability to compare building performance and future operating costs between similar facilities and help with leasing, purchasing and financing decisions.
Sounds harsh, but the city says there are good reasons for being pushy on the issue: 26% of Seattle's greenhouse gas emissions come from energy use in buildings, and an informed market is an effective way to drive energy efficiency improvements. Also, the mandate supports the city's Green Building Capital Initiative goal of reducing emissions from the city's building stock by 20%.
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