Co-op City Times 06/14/14

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Co-op City’s official newspaper serving the world’s largest cooperative community. © Copyright 2014 Co-op City Times

Vol. 49 No. 24

Councilman King addresses range of issues during meeting with Riverbay Following up on his commitment this March to meet regularly with Riverbay Management, City Council Member Andy King sat down with Riverbay personnel on Thursday afternoon to listen to concerns expressed on behalf of shareholders over a range of issues and pledged his ongoing support for Co-op City residents. “It is always important to meet with the largest development in my district, and one of the largest in New York State,” King said after the BY JIM ROBERTS

meeting. “The residents here in Co-op City are a vital part of not just the 12th District, but the whole Bronx community. “I want to make sure myself, my office, and [Riverbay] management have a great partnership because it’s about serving the residents in Co-op City so I’m going to do all I can so the partnership stays well. And when I’m doing right, I want Riverbay to give me a pat on the back, and when I’m doing wrong, we’ll see how we (Continued on page 9)

Bus route changes coming June 29th Changes to local bus routes serving Co-op City that were outlined in a study and report on the community’s bus service needs released in January by the MTA, will take effect on Sunday, June 29th, according to Kevin Ortiz, a media specialist with the MTA. Ortiz, in responding to inquires from the Co-op City Times earlier this week asking the status of the changes which were previously promised to take place by the summer, said all the route changes specifically mentioned in the study’s recommendations will take effect on June 29th, two weeks from BY BILL STUTTIG

Solid commitment to Shareholders

Saturday, June 14, 2014

tomorrow. Four specific changes were mentioned in the report released in January, along with a letter from New York City Transit Authority President Carmen Bianco to the community’s elected leaders. The first of the four specific recommended changes to Co-op City’s bus service, outlined in Bianco’s letter, includes a modification of the BX. 23 route, which provides service from Pelham Bay to all of Co-op City’s sections, to operate as one service pattern (Continued on page 4)

25¢

Dear shareholders: President’s Message Our Task It appears that after Our first task is to twenty years in control restore “trust” in the of the Riverbay Corpcorporation that is President oration Board of Direcresponsible for managtors, the “old Regime” of supporters once ing our property and investment. It is led by our former president Iris my goal to move this company into the Herskowitz-Baez and various other flip21st Century and establish internal conpers has been defeated in our recent trols and milestones that measure that Board of Director elections. These success. changes to the Board majority often take Our property deserves a “properly a long time because Direccontracted Management tors are elected for three year team,” which has executed terms and may flip in their a plan to increase share1st year in office. This holder value both on the unwinding of the majority curb line and the fiscal may often greatly affect corbottom line. In other words, porate governance and fiscal a beautiful property, low control of a cooperative if the debt and cash in the bank. Board always says “yes” to This NORC (Naturally Management without comOccurring Retirement pleting their individual “due Community) is 45 years Diligence.” old, $631 million in debt, Cleve Taylor The group you just completed capital spendelected – Daryl Johnson, Leah Graham, ing projects that are questionable (i.e. Linda Berk, and myself – will not flip Garages, Power Plant, etc.), 15 years of or waiver in our commitment to the declining financial statements (annual shareholder in Co-op City. We would Reports), a property managing agent, like to extend a heartfelt, Thank You! MSI, that most shareholders do not like, You have waited a long time for this (Continued on page 2) change and it is finally here!

Cleve Taylor

Income limits for SCRIE increases to $50,000 starting July 1, 2014

Beginning on July 1, the annual household income limit for the city’s Senior Citizen Rent Increase Exemption (SCRIE), administered by the New York City Department of Finance, will increase from $29,000 to $50,000 or less. BY ROZAAN BOONE

The SCRIE program provides senior citizens an exemption from paying future increases in their carrying charges, thereby helping them to remain in affordable housing. It should be pointed out that the program (Continued on page 2)

Local 32BJ members ratify new contract agreement with Riverbay; Board approval now needed

Approximately 500 Co-op City workers overwhelmingly ratified a new four year contract agreement with Riverbay last Friday, according to both Riverbay and a statement released through the workers’ union, Local 32BJ SEIU. Scott Trivella, Riverbay’s lead labor attorney, and Kyle Bragg, the Secretary Treasurer for 32BJ SEIU – which represents the more than 500 Co-op City workers including porters, grounds workers, garage attendants, dispatchers and garbage collectors – co-signed a memorandum of understanding on Thursday, June 5th, ending weeks of BY BILL STUTTIG

Technically Speaking… Keith Hayes, a product instructor with Siemen’s United Kingdom Division teaches engineers and equipment operators from Co-op City’s Power Plant and other outside facilities and utilities how to efficiently and safely operate Siemen’s gas turbines and related equipment. Riverbay’s Power Plant Director Brian Reardon said the class was offered last week to new Power Plant equipment operators not yet trained on the turbine operations, as well as those that needed a refresher lesson. Because Co-op City hosted the class, the class was offered for free to all Riverbay Power Plant personnel who took it. Photo by Bill Stuttig

productive negotiations between union leadership and legal representation for the shareholders of Co-op City. The previous contract was due to expire on June 8th. The seemingly quiet negotiations leading up to this new four year agreement was in sharp contrast to the acrimonious negotiations between the two sides four years ago which led to a work stoppage in Co-op City for the first 9 days of June, 2010. This new four-year contract, which, if approved by the new Board of Directors possibly as early as the next (Continued on page 4)


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