Co-op City’s official newspaper serving the world’s largest cooperative community. © Copyright 2010 Co-op City Times
Vol. 45 No. 15
Saturday, April 10, 2010
Petition period for Board election ends Monday; Fifteen shareholders have picked up petitions BY ROZAAN BOONE As of Friday, April 9, fifteen shareholders had picked up qualifying petitions indicating their intention to pursue a seat on the 2010 Riverbay Board of Directors. The deadline to return all signed petitions is 5 p.m. this Monday, April 12. The Riverbay Board of Directors election will be held on Wednesday, May 26. There will be one vote per unit by residents who are shareholders of record as of April 12, 2010. All five incumbent Board Directors— Helen Atkins, Tony Illis, Andrea Leslie, Evelyn Santiago and Michelle S. Davy— have picked up their petition packages. Ten other shareholders, all but one of
whom have run for the Board in previous years, have also picked up petitions since they became available last Monday, March 29. They include Frank Belcher, Bruce Gitelson, Raymond Tirado, Krystal Serrano, Larry Barnard, Lauretta Jaysura, Yolanda Canales Schumann, Herbert Moreira-Brown, Leah Graham and Bernard Cylich. Any cooperator in good financial standing can run for a three-year term on the Board. Seventy-five valid cooperators’ signatures are needed on candidates’ petitions in order for them to qualify to run for the Board. After the petitions are returned on (Continued on page 2)
City budget cuts threaten Community Board 10’s services BY BILL STUTTIG Community Board 10, which represents Co-op City and the other communities in the east Bronx in vital matters regarding zoning change requests and the quality of services
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Board approves new roofing contract; Co-op City residents to be hired as part of project BY BILL STUTTIG The Riverbay Board of Directors unanimously approved a contract Wednesday evening to have roofs replaced on eight buildings tentatively beginning in early July. Work will commence shortly after the state Division of Housing and Community Renewal approves the contract in approximately 60 days. The contract for approximately $4.2 million was awarded to APA Restoration who has also agreed to hire local residents to perform some of the tasks needed to complete the project. APA Restoration is described on its website as a Queens-based general contractor specializing in all phases of exterior façade restoration, roofing and waterproofing. The firm is fully licensed, bonded and insured, according to the website.
Past clients include the Ed Sullivan Theater and the Jewish Home and Hospital. They offered to hire local residents to help complete the assigned building roofs and Riverbay has accepted that offer. According to Riverbay’s Director of Construction, Tony Rasulo, the positions that local residents might qualify for depend on their individual experience in the field. Most positions available are for general laborers. Monica Williams of Riverbay’s Department of Risk Management, said that an ad seeking local applicants will be placed in the Co-op City Times next week in the Saturday, April 17th issue. She will begin accepting applications by the following week and forward all applications (Continued on page 5)
provided to the community by city agencies, will have its functions severely curtailed if Mayor Michael Bloomberg’s proposed budget is put (Continued on page 4)
Reporting shareholders’ carrying charge payments to credit bureaus to begin after 90 days BY ROZAAN BOONE After consultation with Riverbay Board President Othelia Jones and in consideration of the state and city’s difficult financial health, Riverbay’s management has determined it best to extend the period before residents’ carrying charge payments are reported to registered credit bureaus. Originally, carrying charge payments were to be reported after a shareholder became 45 days, or 1½ months, late in the payment of their carrying charges. However, after careful consideration of the financial difficulties that some shareholders may be faced with, given the number of cuts being considered to both the state and city’s fiscal budget, management this week agreed to revise the grace period to 90 days, or 3 months, before a shareholder is reported as a late payer to the credit bureaus. The policy of reporting carrying charge payments to registered credit bureaus became effective last month in an effort to encourage shareholders to pay
their carrying charges on time. Up until then, Riverbay had not been reporting the payment of carrying charges, including late and delinquent payments, and this, according to management, led to shareholders oftentimes placing the payment of their carrying charges at the bottom of their list of monthly bills. “Residents decide what to pay and carrying charges are not always a priority because there are no consequences…” stated Herbert Freedman, principal of Marion Scott Real Estate, Inc., Riverbay’s managing agent, in a memo to the Board last November. “That is not the case with bank loans, credit cards, auto payments, etc., etc. In other cases, people move out and don’t worry or care about their arrears.” As a result, the payment of carrying charges has been an ongoing issue for the Riverbay Corporation. According to the Riverbay Finance (Continued on page 7)
Egging them on … The children and parents of Co-op City were treated to an Easter festival last Saturday complete with a dancing bunny, sack races and an Easter Egg hunt and roll, along with other activities. The festival was hosted by Riverbay’s Departments of Public Safety and Community Relations. Photos by Ralph Henriquez