Co-op City’s official newspaper serving the world’s largest cooperative community. © Copyright 2014 Co-op City Times
City Comptroller Scott Stringer comes to Co-op City Vol. 49 No. 44
New York City Comptroller Scott M. Stringer was the guest speaker at the Monday, October 27th meeting of Cooperators United in Co-op City where he stressed his continued support for the preservation of affordable housing in New York City. Mr. Stringer told the group, which consists of building presidents, that every time he comes to Co-op City, he has fond memories of he and his brother visiting with their grandmother who had moved to Casals Place. “It’s like coming home,” Stringer said. “The fact that thousands of people were moving in, living together, Comptroller Scott Stringer addresses the side by side and creating a new neigh- City meeting of Cooperators United on Tuesday borhood made a lasting impression.” night in Bartow Center. Photo by Lauretta Jaysura Sonia Maxwell, President of Cooperators United, a certified comA former Manhattan Borough munity organization in Co-op City, said President, Stringer stressed his continthat the get-together, which was held in ued support for affordable housing, the Bartow Center and was attended by Mitchell-Lama in particular, which he approximately 30 building presidents, called the most successful housing prowas not a townhall meeting, but an gram in history having created middle opportunity for the City Comptroller to speak directly to Building Presidents. (Continued on page 10) BY LAURETTA JAYSURA
Support grows to end $2M ‘standby charges’ billed to Co-op City The fight in Albany to change state law and end a controversial rule that lets Con Edison charge Co-op City $2M each year in so-called “stand-by charges” gained another important supporter this week. On Oct. 27, the Real Estate Board of New York, representing over 16,000 owners, developers, managers and brokers of real property in New York City, submitted a letter to the New York State Public Service Commission calling for changes to support the growth of the state’s microgrid system in line with reforms being sought by Gov. Andrew Cuomo. Last month, Riverbay Corporation BY JIM ROBERTS
Marion Scott, Inc.’s compliance with NYS Regulation for 15 year period in question
Saturday, November 1, 2014
submitted public comments to the state PSC as part of the commission’s “Reforming the Energy Vision” (REV) initiative, a comprehensive study to examine how existing practices should be modified to make the state’s energy systems more reliable and less costly. In its comments, Riverbay highlighted the current rule that allows Con Ed to charge companies that generate their own electricity outrageously high fees supposedly needed to pay for connections from Co-op City’s cogeneration power system to the Con Ed system. Con Ed is the Riverbay Power Plant’s backup in case of emergencies. (Continued on page 9)
Daylight Saving Time Ends
As we move our clocks BACK one hour on Sunday, Nov. 2, at 2 a.m., it’s a good time to replace the batteries in your older style smoke detectors. —Riverbay Safety Department
25¢
Dear beloved President’s Message City and the residents shareholders, of the State of New I must apologize York regarding the for not writing you Fidelity Bonds that President on the many current MSI was supposed to corporate issues that purchase on an annual affect your ownership in basis pursuant to legislation Co-op City. I have been passed by the New York State forced to work an inordiLegislature. The Fidelity nate amount of time cleanBonds are to be issued to a ing up and unwinding the specific property, e.g., Co-op mess that our managing City, Bronx, NY. (Please agent Marion Scott, Inc. has Note: A Fidelity Bond is not woven into Riverbay Corpan insurance policy). oration structure. These Fidelity Bonds are supThe Riverbay Corporation and the posed to be purchased by MSI namState of New York are now involved ing the Riverbay Corporation and the in a greater problem involving: State of New York as the “obligee.” • Governor Andrew Cuomo Commissioner Darryl Towns and • Commissioner Darryl C. Towns Assistant Commissioner Richmond • Assistant Commissioner RichMcCurnin supposedly are in possesmond McCurnin sion of these Fidelity Bonds from • Marion Scott Realty, Inc., 1998 to 2014. Managing agent for Co-op City. I have asked both Commissioners Below is a memorandum written to to be truthful and honest regarding Commissioner Darryl C. Towns on behalf of the shareholders of Co-op (Continued on page 2)
Cleve Taylor
Tuesday, November 4th is General Election Day!!! (See page 4 for story)
Plaque on Building 18 honors Co-op City history makers The young authors who were part of the Building 18 Scholarship Initiative Awards Program (SIAP) have been honored with a plaque mounted on their building to memorialize where the young students who brought notoriety to their community live. The plaque, which was ordered by the Riverbay Board of Directors, reads: “On this Building 18 site, the Scholarship Incentive Awards Program in existence from 20072011, in 2009 created the historic handmade 30-foot book for President Barack Obama which was placed in the Smithsonian American Art Museum/National Library Portrait Gallery Library/ Smith-sonian Libraries in 20014. The program members and authors were: Bruce Campbell, Quinten Campbell, Tara Davis, Samantha Medina, Anthony Purnell, Matthew Salmon, Newton Salmon, Shanieice Silvera and Ruth E. Edwards, Founder/Director.”