Co-op City Times 04/07/12

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Co-op City’s official newspaper serving the world’s largest cooperative community. © Copyright 2012 Co-op City Times

Vol. 47 No. 14

Saturday, April 7, 2012

Cogeneration reduces Co-op City’s Greenhouse gas emissions by 19% in one year BY BILL STUTTIG According a recently posted study, Co-op City’s co-generation plant is making the community greener in more ways than one. The new components of the plant have been operating fully for roughly one year, and aside from the approximate $1.5 million per month it saves the community in energy costs each month and the $2 million worth of NYSERDA grants it has earned over the past year due to it energy efficiency, the plant also produced 19% less Greenhouse gas emissions in 2011 over 2010. According to an independent study which was recently posted on the federal Environmental Protection Agency’s website, the co-generation plant’s emission of carbon dioxide (CO2), the main component of greenhouse gases which many scientists have claimed leads to the reduc-

tion of the earth’s ozone layer and in turn global warming, was reduced by 19% in just one year’s time from approximately 204,000 units of CO2 released in 2010 to approximately 165,000 units released in 2011. Riverbay Power Plant Director Brian Reardon said the significant reduction in greenhouse gas emissions over the past year is due mostly to the fact that the new co-generation components have been operating fully for the past year. Reardon said that the new co-generation facility is actually producing approximately 30% less gas emissions than it was before the co-generation components at the power plant ever began operating. Although the overall effect on the planet’s overall harmful greenhouse gas production is miniscule, relatively speaking, (Continued on page 2)

Official candidates in 2012 Riverbay Board election to be certified April 17 BY ROZAAN BOONE The official candidates who will compete for one of the five open seats on the Riverbay Board of Directors will be announced on Tuesday, April 17, at the Candidates’ Meeting which will be held in Room 31 of the Bartow Community Center at 8 p.m. Last Monday, March 26, at the conclusion of the petition period to run in this year’s Board election, 12 of the 14 potential candidates who had picked up qualifying petitions since they became available on Monday, March 12, returned their petition packages to the Riverbay Legal Department signifying their intention to enter the race to fill five Board seats in the Wednesday, May 16th election.

Among the 12 potential candidates are all five of the incumbent Board Directors running for re-election this year—Othelia Jones, Al Shapiro, Khalil Abdul-Wahhab, Bill Gordon and Francine Reva Jones. The other shareholders who returned their petitions include some shareholders who have run for the Board in the past, as well as new candidates. They include Emanuel Armfield, Geraldine Shivers, Herbert Moreira-Brown, Leslie Peterson, Evelyn Turner, Cheryl Simmons-Oliver and Claudia Sampson. With the petition period over, nonresident Riverbay staff have conducted electronic signature verification on each (Continued on page 2)

We wish our readers a happy Passover and a happy Easter.

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HUD, state and banking officials tour Co-op City this week BY ROZAAN BOONE Top executives for the United States Department of Housing and Urban Development (HUD), New York City Housing Development Corporation (HDC), NYS Division of Housing and Community Renewal (HCR) and Wells Fargo toured Co-op City once again this week to familiarize themselves with the scope of the community as work continues on a possible refinancing of Co-op City’s mortgage through a federal loan guarantee program. The meeting of top executives and officials of the agencies took place in Coop City on Wednesday, April 4 and included Marie Head, Deputy Assistant Secretary of Multifamily at HUD; Mark VanKirk, Director, Office of Asset Management (Multifamily), HUD; David Vargas, Deputy Assistant Secretary of HUD’s Real Estate Assessment Center’s (REAC); and Teresa Bainton, HUD’s New York Hub Multi-Family Director. HUD’s General Counsel’s Office was also represented by Erica Levin, Susanna Mitchell and Ventura Simmons. In addition, Assistant Commissioner Richmond McCurnin of the New York State Division of Homes and Community Renewal (HCR) and Nestor Kyritis of the

Architecture and Engineering Bureau of DHCR, were in attendance as were several executives from the New York City Housing Development Corporation, among whom were Marc Jahr, HDC President; Richard Froehlich, Chief Operating Officer, Executive Vice President and General Counsel; Urmas Naeris, Chief Credit Officer; and Luke Schray, Portfolio Manager, REMIC/ Refinancing. Alan Wiener, Managing Director of Wells Fargo Multifamily Capital at Wells Fargo; Cathy Pharis, head of FHA Platform at Wells Fargo Multifamily Capital; and Cathy Jonas, Senior Underwriter at Wells Fargo Multifamily Capital also attended. Riverbay’s executive team, Herbert Freedman, General Manager Vernon Cooper and Assistant General Manager Gail Badger-Morgan, received the visitors as did Riverbay Board President Helen Atkins, and former Board Presidents Al Shapiro and Othelia Jones, and Riverbay’s First Vice President Rev. Dr. Calvin E. Owens. “The visit on Wednesday was the second major familiarization tour by a HUD (Continued on page 4)

Truman High School and Mercy College announce unique partnership BY BILL STUTTIG on weekends and school vacations to allow them to possibly leave high school with a Co-op City parents of children curcollege associate’s degree. rently in middle school might want to Mercy College President Dr. Kimberly consider or reconsider Truman High Cline said that the idea was born out of a School for their young students after the meeting between her and Truman school announced Wednesday that it will Principal Sana Nasser approximately be beginning a first-of-its-kind partnership with Mercy College to offer the high school’s students a chance to take (Continued on page 19) and earn credit for collegelevel courses while still in high school. Called the Bronx Achievement Pact, the innovative program, as described at a Wednesday morning press conference held in the school’s planetarium, involves giving Truman High School students who qualify the chance to earn up to 30 hours of transferable college credits while attending high school during their junior or senior years. The program will also Officials from Mercy College joined Truman H.S. Principal offer students the chance to Sana Nasser and Bronx Borough President Ruben Diaz, Jr. in announcing a new joint partnership between the Co-op earn an additional 30 college City high school and the college through which college-level credits at no cost to the student courses will be offered to Truman students. Photo by Bill Stuttig


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