Press Release
New York Fed Earns Recognition for Best Practices in Building Operations Management
June 27, 2011

NEW YORK—The Federal Reserve Bank of New York today was awarded recognition for best practices in efficient building management by the Building Owners and Managers Association (BOMA) at an event in Washington, D.C. The BOMA 360 Performance Building designation recognizes commercial properties that demonstrate best practices in all major areas of building operations and are managed to the highest standards of excellence.  The award recognizes the New York Fed’s locations main headquarters in the Financial District and East Rutherford Operations Center (EROC) in East Rutherford, New Jersey.

"The New York Fed is committed to maintaining the highest level of industry standards across all building operations," said Thomas Reilly, vice president of real estate and general services at the Federal Reserve Bank of New York.  "We are proud to be recognized for this achievement in building operations best practices."

The following initiatives led to the Bank’s recognition by BOMA:

  • Efficient energy and water usage: Benchmarking the building's energy and water consumption against the Environmental Protection Agency’s Portfolio Manager in order to identify efficiencies in energy and water usage.
  • Renewable energy:  Conducting a renewable energy study to determine the effectiveness of installing solar or other on-site renewable energy sources.
  • Security:  Establishing advanced evacuation drills and documented security procedures and preparation programs for all building occupants.
  • Prevention: Implementing an advanced preventative maintenance and tracking program to lower environmental and economic risks.
  • Green: Increased use and documentation of "green" cleaning supplies.
  • Community programs:  Offering an extensive array of community involvement programs focused on mentoring, job skills and reading.  

BOMA recognizes excellence in the following areas: building operations and management, environmental sustainability, life safety and security, community involvement and training and education. 

About the Federal Reserve Bank of New York
The Federal Reserve Bank of New York is one of 12 regional Reserve Banks, which together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Federal Reserve is an independent governmental entity created by Congress in 1913 to serve as the central bank of the United States. The New York Fed oversees the Second Federal Reserve District, which includes New York State, the 12 northern counties of New Jersey, Fairfield County in Connecticut, Puerto Rico and the U.S. Virgin Islands.

The New York Fed’s building, located at 33 Liberty Street in lower Manhattan was completed in 1924 and has been renovated over the years to maintain and exceed building operations best practices.  The East Rutherford Operations Center (EROC) in New Jersey, located at 100 Orchard Street, was constructed in 1992.              

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