Transcript: Isley & Eisenberg - Main Street WIRE

the property when the owner was paying the bills. I think we can all agree that this is not about
creating a profit center for us. This is for conserving energy. We think that if everyone does
their part this is a good thing for everyone.
WIRE: I have to say, because you put such an emphasis on conservation as the purpose, that
what I’m hearing from residents is that they see this as a way of making the building financially
viable, and they see it as a major way of offloading a major expense of the building’s expense
onto residents. They fear the building is untenable, financially. I think you have to predicate the
possibility that the DHCR allowance is not big enough if a person receives a sample bill that is
five times what the DHCR numbers mandate.
Eisenberg: I understand.
WIRE: You still have a major discrepancy there in the amount of electricity charge an individual
tenant is going to face.
Eisenberg: Look, I pay my electric bill every month, Doreen pays her electric bill every month.
When I leave a room, I shut the lights off. I make sure windows are closed. I’m careful about
my use of electricity.
WIRE: You think that’s going to do it in this building?
Eisenberg: What I’m saying is that if people are careful and are mindful of how they use
electricity, I’m confident that the bills will come down. I’m also confident that we’re going to
make every effort to help residents winterize their apartments do everything we can to help them.
If a resident decides to leave a TV on all day, their lights on all day, and have three computers on,
or who knows what...
WIRE: You’re talking about me...
Eisenberg: Look, that’s a choice that a resident makes, and they’re going to have higher
electricity bills as a result of the choices they’re making. To the question of whether or not the
building is financially viable? It’s financially viable now, and it’s financially viable if we
submeter. We’ve done nothing since we bought this property but invest in it.
WIRE: But tenants are fearful that the shadow bills will go up to a fairly large real number in the
very cold months. The DHCR allowances are area-wide, apparently not intended for electric heat
situations. This building has electric heat and we know that’s an expensive way to heat a place.
It still strikes me that it’s really difficult to imagine that these bills, even after turning off the
lights, leaving the TV set off, and turning off the three computers, it’s hard to imagine that
they’re going to be able to get their bills down to the DHCR allowance, which seems not to be
predicated, as best I can tell, on electric heat. Is there a way compensate for that?
Isley: There are other buildings that are similar to ours that have the same similar heating
elements that also receive subsidy allowances. They have no problem. I see no reason why our