Co-op City’s official newspaper serving the world’s largest cooperative community. © Copyright 2016 Co-op City Times
Vol. 51 No. 13
Saturday, March 26, 2016
Board seeks shareholder ideas to improve Riverbay operations BY JIM ROBERTS
The “Riverbay Suggestion Box” is open for business, and shareholders with a good idea that saves money for all residents can be rewarded for their input with a $500 check and dinner out on the town. The Riverbay Board of Directors is seeking ideas from shareholders to create cost savings, improve operations, increase revenues, eliminate safety hazards or improve procedures at Riverbay. “I believe the shareholders’ incentive program is a fabulous opportunity for Riverbay to tap into the incredible resources we have right here in Co-op City,” said Linda Berk, Riverbay Board First Vice President. “Money saving ideas from fellow shareholders is inclusive, creative and hopefully will engage cooperators to benefit the entire community.” To qualify for one of the three prizes available, each suggestion must describe a specific problem, offer a workable solution and offer a measurable benefit to the Riverbay Corporation. Suggestions can range from topics in engineering, security, information technology, accounting, clerical support and many more. Three winners will receive prizes of
$500, $250 and $125, along with dinner for two and recognition in the Co-op City Times. “I am so excited that the Cooperators’ Money-Saving Award Program is finally being presented to the community,” said Francine Reva Jones, chairperson of Riverbay Board’s Community Relations Committee. “This program will reward cooperators for their ideas that will save money or increase revenue for the Riverbay Corporation. “This is another way we can help each other: the shareholders, by offering their money-saving ideas, and the Riverbay Corporation, by providing a reward to the three shareholders with the best ideas. “Thanks to the Board of Directors who voted in favor of the 2013 resolution sponsored by Khalil Abdul-Wahhab and to the Community Relations Committee and the Community Relations Department that were instrumental in accomplishing the necessary tasks to make this program happen,” Jones said. Entrants must be a Co-op City shareholder of record and the suggestion must be original and may not constitute the solution to a procedure or problem (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, 2016, and those cooperators on the Section 8 Program). The due date for returning your completed affidavit, which must be notarized, is April 30, 2016. Currently, surcharges based upon 2014 Income Affidavit forms will expire June 30, 2016. New surcharges will be imposed for the period July 1, 2016 through June 30, 2017 based upon data taken from your 2015 Income Affidavit form. Please note that it is essential that every cooperator submit their 2015 Income Affidavit in a timely manner. If you filed an application for extension in lieu of a 2015 NYS Tax Return, you are still required to submit your affidavit by April 30, 2016. 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 max-
imum 50% surcharge. Also, please note that Riverbay must be notified in writing with a copy of the extension form. In cases where there are two shareholders of an apartment and one of the shareholders has permanently vacated the apartment, it is important that the remaining shareholder submit documentation to Riverbay Corporation as to where the vacating shareholder currently resides. Acceptable documentation could be (1) driver’s license with current address, (2) copy of the apartment lease, (3) utility bill with current address. If this documentation is not submitted with the Income Affidavit, it will be returned as incomplete and a 50% surcharge will be assessed each month until the documentation is submitted. The shareholder will be liable for all surcharges assessed, no credits will be issued for surcharges already assessed. Failure to complete and return the Income Affidavit form in a timely manner will result in the maximum surcharge of 50% of your basic carrying charges being levied on July 1, 2016. You would then be required to pay the 50% surcharge for each month, (Continued on page 3)
25¢
Thirteen pick up petitions to run for the Board of Directors Deadline for submission is April 4 BY ROZAAN BOONE
Thirteen shareholders picked up qualifying petition packages this week for the annual election of the Riverbay Board of Directors which will take place on Wednesday, May 18. The petition period for those who hope to qualify as a candidate began this past Monday, March 21, and will conclude at 5 p.m. on Monday, April 4th, when all signed petitions are due back to the Riverbay Legal Department, located in the Administrative building at 2049 Bartow Avenue, Bronx, N.Y. Out of the thirteen resident shareholders who picked up petitions to run for a seat on the 2016-2017 Riverbay Board of Directors this week, four are incumbent directors, one is a former board director, some are running for the first time and several others have run for the board in the past. According to the Riverbay Legal Department, those picking up petitions as of press time yesterday, are Stanley Frere, Kevin Lambright, Leslie Peterson,
Frank Belcher, Marie Smith, Yolanda C. Schumann, Holly Malone, Sonia Feliciano, Andrea Leslie, Bernard Cylich, Tony Illis, Claudia Sampson and Linda Drax-Werner. Any cooperator in good financial standing can run for a three-year term on the Board. Seventy-five valid cooperators’ signatures are needed on candidates’ petitions in order for them to qualify to run for the Board. Those interested in running for the Board can request their qualifying election packages in person, which will include the candidate’s petitions, at the Riverbay receptionist during normal business hours at the Administrative Desk in the Bartow Community Center, from 9 a.m. to 5 p.m., Monday through Friday. At that time, the Riverbay Finance Department will access the prospective candidate’s financial record to determine whether or not they are indebted to the Riverbay Corporation, as per election rule B (3). (Continued on page 2)
Easter Egg Hunt on Sect. 5 Greenway
The Easter Egg Hunt will be from 12:30 to 1:30 p.m. today, Saturday, on the Section 5 Greenway. Come join the fun!
We wish our readers a happy & blessed Easter!
Third annual Co-op City Spelling Bee BY LAURETTA J. JAYSURA
The third annual Co-op City Spelling Bee, co-sponsored by the AfricanAmerican Association of Co-op City and the Riverbay Fund, Inc. was held last Saturday, March 19 in the Bartow Center. Committee members agreed that in the past three years of sponsoring the Spelling Bee, attendance and participation has grown and this event has become highly anticipated among parents, grandparents, students and the community as a whole. In addition to the monetary awards, the contests show young people just how important a skill such as spelling can be in a diverse and competitive world such as ours. It also brings out some of the best and most precocious in town, such as 4th grader Caleb Brennan, who says very confidently that he wants to be a “chemist and inventor,” and eighth graders Trejan Vacianna, who has not yet decided, and Sayge Cambeu, who says that she wants to be a scientist. “I like the Spelling Bees because they motivate kids,” said Ms. Sarah Cabassa,
Spelling Bee participants
whose daughter, Genesis, was a contestant. Twenty-three boys and girls, in grades 4th-8th, participated in this year’s Co-op City Spelling Bee. “We have children from public, home, charter and parochial schools,” said Ebony Rae Lambright, Contest Proctor. Eight contestants were from local Co-op City schools. (Continued on page 3)