Co-op City’s official newspaper serving the world’s largest cooperative community. © Copyright 2010 Co-op City Times
Vol. 45 No. 41
Saturday, October 16, 2010
Co-op City gives the MTA a failing grade BY BILL STUTTIG According to more than 700 Co-op City residents, when it comes to providing adequate and on-time bus service to the Co-op City community, the MTA has failed miserably in the wake of service changes enacted on June 27th. 702 Co-op City based-commuters took the time to answer a survey published in the Co-op City Times during late August and early September. The survey was put together by Riverbay’s Community Relations Director Michelle Sajous in consultation with the Co-op City Times and in association with shareholder Algernon Quattlebaum. It was designed to ascertain the scope of problems bus commuters have experienced since the major redesign of most of the community’s bus routes which took effect on June 27th. The results of the survey, compiled
by Sajous over the past several weeks, reveal that the detrimental effect of the controversial changes is even more severe than originally feared. According to the survey, the majority of residents say their wait time for the bus has increased during weekday rush hours, 6 a.m. to 8 a.m. and 5 p.m. to 7 p.m. 43.6% of commuters surveyed report that their wait time is 15 to 30 minutes since the changes have taken effect. 19.2% report that the average wait time during peak hours is 30 to 45 minutes and 10.7% report that the wait time is regularly up to an hour. During non-peak-weekday hours, the situation is not much better with 35.9% of those surveyed saying their waiting time is between 30 and 45 minutes, (Continued on page 2)
Shareholders reminded that proof of co-op insurance coverage must be submitted annually BY ROZAAN BOONE Shareholders who have not yet submitted proof of their annual co-op insurance coverage by the deadline this past Friday, October 15, will be assessed a $150 community complaint on their November carrying charge bill. Riverbay’s Director of Risk Management, Ron Caesar, underscored the importance of co-op insurance by saying, “All it takes is one major loss to realize the value of your own personal property. This is something that everyone needs to have and is required to have in order to protect themselves against the possibility of devastating loss.” Caesar pointed out that all major insurance companies offer co-op insurance and the price for the required coverage in most cases is less than the $150 community complaint received by those who fail to comply with the directive. “Shareholders need to shop around for the best price relative to the coverage provided, keeping in mind that prices will vary depending on the credit and risk history of each individual shareholder,” Caesar said.
Riverbay requires insurance coverage in the following amount: $25,000 in personal property coverage; $2,500 in building property protection; $100,000 liability protection; $1,000 in guest medical protection; 12 months additional living expense. “I must stress how important it is for shareholders to purchase and maintain co-op insurance in order to protect themselves,” said Riverbay Board President Helen Atkins. “Unfortunately, we cannot predict when emergencies such as fires can result in smoke and/or water damage to your apartment or even to your neighbors’ apartments. It is therefore imperative that we take steps to make sure that we are covered in these emergencies.” In the past couple years since this policy was implemented on November 1, 2005, the Risk Management Department has been receiving a more favorable response from shareholders who comprehend the importance of securing co-op insurance. In 2008, shareholders were asked to submit the declaration page of (Continued on page 4)
25¢
Investigation will determine facts in townhouse list controversy BY DEREK ALGER Speculation was running rampant through Riverbay Corporation this week following revelations about a Board Director allegedly jumping others on the townhouse waiting list, fueled by unsubstantiated rumors and newspaper articles. The potential scandal was first reported in the Daily News last week, and then followed by a “questionable” front page story in City News this week, which served to confuse the situation even more. The City News article seemingly rushed to judgment to convict the Riverbay Director of Residential Sales of acting improperly in allegedly jumping a Director over others on the townhouse waiting list, though that has not as yet been determined. While allegations have surfaced that one Director may have been jumped over others, including another Director, on the town-
house waiting list, it has not been determined whether the Board Director in question was even aware that preferential treatment may have occurred. The City News also falsely reported the townhouse was owned by one of the Director’s children. While the Daily News reported last week that the head of the Riverbay Sales Department was suspended for reportedly jumping a Board Director over others on the townhouse waiting list, the facts surrounding what did, or did not happen, according to allegations, is far from conclusive. The one fact that is known is that Riverbay General Counsel Jeffrey Buss has initiated an investigation, per direction of a majority of the Riverbay Board, after a charge was made that the Director of Residential Sales reportedly jumped a Board Director over others on (Continued on page 4)
Dispute could pull the plug on Fox 5 and UPN 9 Cablevision has informed Riverbay Corporation that the ongoing negotiations between Cablevision and News Corp. (the owner of Fox 5 and UPN 9) were “not going well” regarding their contract set to expire at 11:59 p.m. last night, Friday, Oct. 15. At press time on Friday, Cablevision said they expected News Corp. to pull the plug on Fox 5 and UPN 9. In the event that happens, Cablevision subscribers will lose these channels and will only see a black screen. Losing these channels is not under Riverbay’s control and shareholders should call Cablevision with any questions. Cablevision’s customer service phone number is (718) 617-3500. Shareholders can also call Fox 5 and UPN 9 directly. Riverbay’s master antenna subscribers will not be affected by the dispute.
Final stages of window replacement project accelerated BY BILL STUTTIG With just seven of Co-op City’s 35 buildings remaining before the community’s historic window replacement project is complete, it was announced this week, that savings being realized from Riverbay’s cogeneration plant is making it possible to accelerate the pace of the window replacement project. Currently, workers from the contractor, Tindel Replacement Windows, Inc., are on-site four days a week, completing four apartments per day. Beginning next week, that pace will be accelerated to five apartments per day, four days a week Riverbay General Manager Vernon Cooper said yesterday, October 15th: “We have reported to the community in the past, we had to decrease the number
of apartments receiving new windows and terrace doors per day because of our financial position. However, we have never stopped the program and although we are relying on refinancing in order to go back to installing them at the rate that it was done previously, for the most part, our recent increase in savings from our co-generation plant is enabling us to go from installing windows and terrace doors in four apartments per day to five apartments per day, four days per week.” Crews just finished replacing all the windows in Building 11 and now the massive project will move on to Building 30. Liviu Zalman, Riverbay’s Assistant Director of Construction, confirmed this (Continued on page 4)