Co-op City Times 06/29/13

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Co-op City’s official newspaper serving the world’s largest cooperative community.

Vol. 48 No. 26

© Copyright 2013 Co-op City Times

Innovative financing helped complete energy savings project in garages Finding cost-effective ways to reduce expenses at Riverbay while maintaining services for Co-op City residents has produced results for shareholders in several projects during the past few years. By implementing programs that use energy more efficiently, Riverbay has been able to hold down spending in the face of increasing costs. And working with financial professionals to save money paying for those programs has also saved money for shareholders. One example of this successful formula is the nearly $3 million project that Riverbay contracted with Green Energy Management Services Holdings, Inc. (GEM), a Teaneck, N.J. based company, to retrofit and maintain 4,928 garage lights, 395 exterior lights, 496 elevator and stairwell lights and 279 exit signs in the community’s eight parking garages. BY JIM ROBERTS

Co-op City residents urged to attend July 24th rally at MTA headquarters, petition Governor’s office

Saturday, June 29, 2013

The 10-year GEM contract will provide Co-op City with approximately $350,000 annually in electricity savings and approximately $2.5 million in maintenance cost savings over the life of contract by utilizing power-saving long-life induction and LED lighting. The total cost of the energy efficient garage lighting project was over $2.7 million. In fact, the entire project will cost shareholders nothing because the project was paid for by an innovative financing arrangement that included a $1 million federal grant. Riverbay’s expenses for the work will be offset by the energy cost savings. The $1 million grant came from the federal American Recovery and Reinvestment Act grant administered through the New York State Energy

Important Notice to Residents, Clubs and Community Organizations (Continued on page 2)

In observance of the July 4th, 2013 Independence Day holiday, Riverbay’s administrative offices will be closed on July 4th. All club articles, Viewpoints and other submissions must be received by 9:00 a.m., Monday, in order to be considered for Saturday’s paper.

Have a Safe and Happy 4th of July Weekend!!

Fireworks display Wednesday, July 3; free concert, July 2nd

The Riverbay Fund will present the annual Fireworks show on Wednesday evening, July 3, 7:30-9:30 p.m. on the Main Section 2 Greenway, across from the Little League field. The community’s youth sports teams will be selling food, drinks and snacks at 7:00 p.m. and the fireworks display begins at 9 p.m. Bring your chairs and come out for an enjoyable evening celebrating our country’s independence. On the previous evening, Tuesday, July 2nd, Tony Lewis and Friends will perform a free concert featuring Rhythm and Blues and Funk from 7 to 8:30 p.m. at the Greenway stage. Bring a lawn chair and enjoy a nice evening and some great music. All are welcome Because of the fireworks show, there will be no parking on Co-op City Boulevard from Bellamy Loop to Peartree Avenue on Wednesday, July 3, from 8 a.m. until midnight. Vehicles will be summonsed and towed at owner’s expense. In addition, Co-op City Boulevard, from Bellamy Loop to Peartree Avenue will be closed to all vehicular traffic from 6 p.m. to 10 p.m. Have a happy and safe July 4th!

Telling people that the next few weeks are crucial if Co-op City is to have its bus lines successfully restored to pre-2010 quality in the near future, key organizers of a ongoing campaign to petition both the MTA and the Governor’s office about Co-op City’s poor quality bus service encouraged other community leaders throughout Co-op City to work with them in getting the word out about a variety of strategies to make Co-op City be heard on this issue. “The time is right now,” said Riverbay Ombudsman Joe Boiko who moderated a meeting Thursday evening BY BILL STUTTIG

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in Bartow Community Center attended by approximately 50 Co-op City community leaders and representatives of local elected officials. “We have to act together as one community and unite as one group.” The main focus of the meeting was to increase and encourage participation in a massive rally scheduled for July 24th at MTA headquarters on Madison Avenue in midtown Manhattan. The rally is being planned to coincide with a crucial meeting of the MTA Board scheduled for that same time, in which the Board will likely vote on key budget items for (Continued on page 2)

Prospective shareholders activity shows strong demand for Co-op City apartments The number of unassigned units in the community continues to fall, illustrating the ongoing strong demand for apartments in Co-op City. According to figures from the Riverbay Sales Department, as of June 21, there were only seven unassigned units out of the 294 vacant units. In March of this year there were 15 unassigned units in the community out of a total of 309 vacant units. The breakdown of the 287 vacant units that are now in various stages of the sales process includes 86 applicants where closings are now pending. Of those, 72 have actual closing dates; 12 applicants are being contacted by Riverbay sales agents to schedule closing dates; and two are awaiting bank approval. BY JIM ROBERTS

In 62 cases, applicants for the apartments are awaiting approval from the state Homes and Community Renewal agency. Another 50 applicants have been offered apartments and had not yet responded to the offer. There are 41 apartments with applicants who had appointment dates set to view their prospective new homes. And in 31 cases application packages were in the process of being prepared for submittal to HCR. Two of the available apartments were in the process of being offered to transfer applicants while 13 other new applications could not be sent to HCR yet because they are farther back on the applicant list than HCR will consider and must (Continued on page 4)

Keeping in Step … The neighbors of Building 11, 12, 13 and 14 came together for their second annual Summer Fun Day last Saturday afternoon, June 22nd. Above, dozens of young people from the four buildings come together for a group line dance. The day also included live music, lot of games and prizes, free food and refreshments, and most of all the chance to get to know your neighbor a little bit better. See full story and more photos on page 3.


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