Co-op City Times 5/14/22

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See 2022 Riverbay Board Election Supplement on pgs. 27-36

Vol. 57 No. 20

Saturday, May 14, 2022

Congressman Jamaal Bowman Announces Affordable Co-op Act BY BRANDON ORTIZ

Congressman Jamaal Bowman held a press conference in the Co-op City Little League Field on Monday, May 9, to announce his Affordable Co-op Act, which aims to bring more federal funding to support cooperative housing models across the country. The Affordable Co-op Act, or Affordable Collective Opportunities for Owning Property Act, will attempt to address the issue of homeownership affordability through a few methods. During his remarks, Congressman Bowman underlined the importance of having affordable housing and how access to housing should be a “human right.” Congressman Bowman Congressman Jamaal Bowman is joined by also discussed the mental Riverbay Board members, Management and aftoll housing insecurity can fordable housing advocates for announcement (Continued on page 13)

eral dollars to co-op housing.

Photo by John Crow

Riverbay Management and Board Continue BY ROZAAN BOONE

$1.25

Voting Incentive Offered to Encourage Participation in 2022 Riverbay Board Election 3,217 More Ballots Needed by May 20th for Quorum BY ROZAAN BOONE

The 2022 Election Committee is offering a $500 prize to the association of the building or townhouse cluster with the highest voter participation in the 2022 Riverbay Board of Directors election currently ongoing until next Friday, May 20, when mail-in ballots must be postmarked and electronic ballots received by 9 p.m. by YesElections, the independent election contractor. Additionally, residents in the winning building or townhouse area who vote in the election will be entered into a random drawing for three prizes: First Place: $300; Second Place: $200 and Third Place: $100. This year’s quorum requires 5,022 ballots from eligible shareholders. As of press time Friday, May 13, YesElections informed the 2022 Election Committee that only 1,805 ballots had been received, 566 electronic, and 1,239 mail-in. This is 3,217 ballots shy of the quorum. To help shareholders make informed decisions when casting their vote, the Election Committee scheduled three virtual candidates’ forums and invited held on Wednesday, April 27, the second on Saturday, April 30, and the third Saturday, May 7th issue of the Co-op City Times. This week, a recap of the (Continued on page 2)

Recap of 2022 Election Forums 2 & 3 …

Second Candidates’ Forum, April 30 BY BRANDON ORTIZ

the housing company’s capital budget but the corporation’s operations budruptions and shortages, and exorbitant fuel and insurance costs – pressures facing consumers and businesses worldwide – continue to upend Riverbay’s operations expenses. Needs Assessment (CNA) report prepared by Dominion Due Diligence group as mandated by both the 2012 loan terms and the recent loan application. This (Continued on page 4)

Riverbay Corporation Summer Intern Applications (See page 3) NYC Rent Stabilized Tenants Could Face Up to 9% Rent Increase Come June BY P.M. CAMPBELL

On Thursday, May 5, the NYC Rent Guidelines Board took a preliminary vote on increasing one- and two-year leases for the city’s 2.4 million rent stabilized tenants from 3-9%, making it the highest rent increases in almost ten years. The Rent Guidelines Board proposed increases of between 2.7-4.5% on one year leases and 4.3-9% on two-year leases by a 5-4 vote margin. The increases come as cost of living and goods and supplies are rising expobeing doubled, landlords, on the other hand, say they are still recuperating from relief program only paid landlords for 12-15 months of back rent. Landlords also cite rising maintenance costs. They point out there was no moratorium on property taxes, water and sewer bills, in addition to escalating fuel and insurance costs. The Rent Guidelines Board will convene in-person public hearings on the in-

Eight of the eleven candidates running in this year’s Riverbay Board of Directors election participated in the second of three virtual Candidates’ Forums on Saturday, April 30. Francine Reva Jones, chair of the 2022 Election Committee, welcomed the candidates and then introduced the members of the 2022 Election Committee: Denise Gerrald, Sandy Krasnove, Marita Taylor, John Gale, Dorian King, Yvonne Allen and Jarasia Wilson. Election Committee Attorney, Jeff Buss, then read the rules of the Candidates’ Forum and reminded the candidates to avoid personal attacks on each other. Raymond Tirado, Aisha Ahmed and Ivy Gaynor were not in attendance at the second forum. Lynette Wright started the opening statements for candidates and touched on the importance of establishing an environment where cooperators feel safe. “We speak about how many of our neighbors don’t vote or don’t engage, or don’t invest time in the community. My question would be who has historically set this tone? Communities become disillusioned when its leadership fails to make them feel like an inclusive part of society and doesn’t emphasize the role that every single person plays in our society…I want to be that catalyst of change,” Ms. Wright said. Blossom Johns followed. “As a Board director, I will be your eyes, yours ears and your voice when it comes to maintaining affordability and a good quality of life. What can I bring to the table besides my professionalism? My years of experience working directly for past city and state leaders and my knack for fact-checking and being a detail-oriented person,” Ms. Johns said. She also untion and how that will translate to more transparency on the Board, if elected. Mary Pearson delivered her opening remarks next and touched on her work on the Board. “From the time I was surprisingly voted onto the Board in 2018, I’ve done everything I possibly can to make the lives of my neighbors in our beloved community a little better, and sometimes a whole lot better,” Ms. Pearson said. She then pointed out her commitment to the community over the years and encouraged shareholders to read her viewpoints in previous issues of the Co-op City Times to get a better idea of her involvement over the past few years. After Ms. Pearson, Ezekiel Springer Jr. delivered his opening statement and described his ties to Co-op City. He then explained his appreciation for Co-op City and how that reasoning factored into his decision to run in the 2022 Riverbay Board Election. “I love my apartment views, I love the cleanliness of the buildings, I love (Continued on page 38)


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