Co-op City Times 03/21/15

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

Petition period for 2015 Riverbay Board election begins on Monday, March 23

Alternative budget being presented to community is misleading

© Copyright 2015 Co-op City Times

Vol. 50 No. 12

BY ROZAAN BOONE

Co-op City shareholders interested in running for a seat on the Riverbay Board of Directors can begin picking up their qualifying petitions on Monday, March 23 through Monday, April 6, when all signed petitions are due back to the Riverbay Legal Department by 5 p.m. Starting on Monday, March 23, petitions will be available from 9 a.m. to 5 p.m. each weekday from the Riverbay receptionist at the Administrative Desk in the Bartow Community Center, located at 2049 Bartow Community Center, Bronx, N.Y. After 5 p.m., and on the weekends, petitions can be picked up at the Public Safety window in the Bartow Center. All petitions must be picked up and signed for by the prospective candidates, not by any representative, friend or family member. In addition, candidates for the Riverbay Board must be the shareholder of record as indicated on the candidate’s stock certificate, occupancy agreement and the current occupants’ Annual Affidavits of Family Income.

Saturday, March 21, 2015

The Riverbay Board voted on Wednesday, February 4 to approve Resolution 15-08 setting the date of this year’s annual shareholders meeting, which has been scheduled for Wednesday, May 20th, in accordance with the Riverbay Corporation ByLaws, Article II, Section 1, which stipulates that the meeting be held in the month of May on a date set by the Board of Directors. Riverbay Board President Cleve Taylor has appointed Director Andrea Leslie to chair the 2015 Election Committee and she is in the process of selecting volunteer shareholders to serve on the committee and assist with the many duties involved with supervising the annual election of members to the Riverbay Board. “As our community participates in this very important democratic process, I hope the community will take seriously its responsibility to elect to the Board, fellow shareholders who are conscientious activists who will represent them well as we continue to work

Bulk cable results

BY ROZAAN BOONE

Earlier this week, Riverbay’s interim General Manager Peter Merola reported that of the ballots on the bulk cable agreement that have been returned and counted, 5,075 were “yes” votes, 4,206 were “no” votes and 206 had neither “yes or “no” selected, or both “yes” and “no”

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checked on the ballot. As reported previously, the Board had agreed when the bulk cable issue first came up in 2013 that 2/3 of shareholders must respond to the referendum and 2/3 of those responding must agree for the bulk cable deal to (Continued on page 4)

Annual Income Affidavits BY LOUIS SALEGNA, CONTROLLER

The annual income affidavit process for Co-op City residents is currently underway. The Income Affidavit and related instructions were mailed out this week to all cooperators required to file (excluded are new residents who moved into Co-op City after March 31, 2015, and those cooperators on the Section 8 Program). The due date for returning your completed Affidavit, which must be notarized, is April 30, 2015. Currently, surcharges based upon 2013 Income Affidavit forms will expire June 30, 2015. New surcharges will be imposed for the period July 1, 2015 through June 30, 2016 based upon data taken from your 2014 Income Affidavit

form. Please note that it is essential that every cooperator submits their 2014 Income Affidavit in a timely manner. If you filed an application for extension in lieu of a 2014 NYS Tax Return, you are still required to submit your affidavit by April 30, 2015. Please estimate your income and identify as “Estimated Income.” File an amended affidavit once you have filed your tax return or you will be subject to the maximum 50% surcharge. Also, please note that Riverbay must be notified in writing with a copy of the extension form. In cases where there were two shareholders of an apartment and one of the shareholders has permanently vacated the (Continued on page 3)

25¢

Dear shareholders: President’s Message and to get the BoOn March 4, 2015, ard’s approval to the Riverbay Board implement some President of Directors held an of the sources of Official Business Merevenue that we eting which was televised have found.” to the community. In the 4:02:16 – “This Budget recorded statements made Committee was under the by the First Vice President direction of the Finance and Budget Committee Director (Peter Merola) the Chair, Leah Graham, she same person that you are states: referencing. I am saying to 3:48:00 – “I’m the you that we did find Chair of the Budget Comsources of revenue. We are mittee and on my commitnot suggesting any frivotee I have people that understand the lous cuts.” numbers. I have accountants, book4:03:57 – “Working with the keepers, people that deal with budgFinance Director at our committee, ets every day for a living and we we did find money where we didn’t looked closely at this budget, as well have to have an increase. I’m askas other information under the direcing that the Board not vote yes. I tion of our Finance Director (Peter have data.” Merola). We came up with sources 4:17:56 – “The Budget Committee of revenue that would generate $10 agreed to submit to the Board four revMillion vs. $5 Million that would be enue sources to ask for approval. The generated through an increase. That four revenue items would increase the was one of the reasons why I asked Corporation Revenue by $910,625 per to table this resolution.” month for approximately $10 Million 3:51:15 – “I do have from my annually.” Committee, (while holding up her (Continued on page 2) report) information to show you

Cleve Taylor

DOT proposes reducing congestion by reducing lanes on Bartow Avenue BY BILL STUTTIG

In a preliminary report made to members of Community Board 10 last week, representatives of the Bronx office of New York City’s Department of Transportation proposed their ideas for reducing congestion on the streets surrounding the Bay Plaza shopping complex – ideas which included a plan to reduce the number of lanes on Bartow Avenue from three to two in both directions. Martin Prince, Chairperson of Community Board 10 and a Co-op City resident, informed the Co-op City Times and also the Riverbay Community Relations Committee of the proposed changes first presented to him and the community at an informal meeting in the Board offices on Friday, March 13th. Mr. Prince said that a number of proposed ideas were presented by the team of DOT engineers, which included DOT’s Bronx Commissioner Constance Moran. Chief among the proposed ideas – was a revised concept of reducing the

number of lanes on Bartow Avenue between Baychester Avenue and Co-op City Blvd. from three lanes in each direction to two. Prince said the Board and a handful of area residents in attendance were told that this proposal would increase pedestrian safety in the area while having little negative effect on traffic flow along the busy Bartow Avenue as it goes between the massive Co-op City and the equally massive and growing Bay Plaza Shopping Complex. The Co-op City Times requested in writing a detailed explanation from the department about the proposed plan to confirm what Mr. Prince was reporting and received the following terse response from Jose Bayona, Deputy Press Secretary for the Department of Transportation: “DOT had a preliminary discussion with the Community Board last week. We will present an official proposal to the Board next month.” (Continued on page 4)


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