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To read the Co-op City Times electronically, log in to the Issuu platform from your desktop or mobile browser by typing in “issuu.com/ cctimes,” or scan the QR code here to be connected.

Farmer’s Market

Harvest Home Farmer’s Market comes to Co-op City every Wednesday through Nov. 22, 8 a.m.-4 p.m.

The Market is held at Asch Loop & Aldrich Street, next to

For more information, visit www.HarvestHomefm.org.

Assemblyman Benedetto 2023 Lobby Visit

Assemblyman Michael Benedetto’s next lobby visits in Co-op City will be:

• Wed., July 26, 120 Casals Pl.

• Wed., Aug. 2, 120 Benchley Pl.

• Wed., Aug. 9, 120 Debs Pl.

• Wed., Aug. 16, 120 Asch Loop

Lobby visits are from 5:15-7 p.m.

Lobby visits provide Co-op City homeowners an opportunity to discuss a broad range of topics with their elected official in a special one-on-one setting just steps from their front door.

Assemblyman Benedetto invites shareholders to meet with him in their respective lobby to hear key highlights of the Legislative Session and to discuss their own concerns on local and personal matters.

For more info., contact Assemblyman Benedetto’s Co-op

Bartow Mall Parking Alert

Shareholders, guests and shoppers are reminded that there is a two-hour parking limit in the Bartow Mall. Parking is for the exclusive use of customers while shopping within the Bartow Mall, with a posted two-hour limit. Vehicles will be towed at the owner’s expense.

Board & HCR Approve Extension of Downsizing Apartment

BY ROZAAN BOONE

On Wednesday, July 12, 2023, the Riverbay Board of Directors approved Resolution 23-26 to extend the apartment downsizing program open to Co-op City senior and disabled shareholders for another two years until June 30, 2025.

New York State Division of Housing and Community Renewal (HCR), the supervisory agency for Mitchell-Lama developments, has approved this two-year extension.

When this program was approved in 2019 by the state Division of Housing and Community Renewal (HCR) as supervisory agency had issued approval for an apartment downsizing waiver to a Mitchell-Lama housing corporation, and that effort was initiated by Riverbay. The approval came after more than six years of advocacy for the program which a resolution asking Management to compile a plan to be presented to HCR. In April 2019, the Board unanimously passed Resolution 19-18 requesting HCR review and approval of Riverbay’s waiver request. And so, after years relax the regulation to allow seniors to move to smaller, more affordable living spaces; and years-long negotiations with HCR, Wells Fargo (Co-op City’s mortgage holder), and other stakeholders, to iron out mutually-agreed upon details of the program, HCR granted the waiver.

The goal of the program is to allow senior shareholders who have since raised their families and no longer require a large unit, and who wish to continue living in Co-op City, the opportunity to downsize to a smaller unit without the for the new, smaller unit and three months carrying charges for the old apartment, as required by HCR regulations –a cost prohibitive undertaking for some seniors living on HCR’s Mitchell-Lama regulations (9 NYCRR Part 1700 et seq.), transferring seniors and those who are DRIE-eligible would pay only for damages to the old unit beyond normal wear and tear. By accommodating senior and disabled shareholders who qualify for the waiver, this program frees up the corporation’s stock of larger apartments.

Eligibility for the apartment downsizing waiver is limited to shareholders (heads of household) who are:

• 62 years of age or older, and whose annual household exceed $59,000

• Shareholders who are considered handicapped for eligibility purposes under the New York City Disability Rent Increase Exemption (DRIE) Program, and whose annual household income does not exceed $59,000 as include proof of award of federal Supplemental Security disability pension or compensation; or Disability-related Medicaid, if the shareholder received either SSI or SSDI in the past

• No applicant currently paying a surcharge or who is in arrears on their carrying charge is eligible for this program

Eligible shareholders who wish to transfer to a smaller apartment can submit a completed Downsizing Transfer Application (Form HM-80T) to the Riverbay Residential Sales department before the June 30, 2025 deadline. All household members on the application must be documented as living in the current unit. All persons 18 years and older must submit their most recent tax returns.

Individuals being added as co-owners of the new unit must have a FICO score of at least 650. In addition, anyone 18 years and older being added to the transfer application who was not listed on the applicant’s original application consistent with Riverbay’s Residential Sales application procedures and requirements. (There are additional fees per applicant; criminal background check: $153 per adult applicant.) There is also a non-refundable administrative fee of $75, which must be paid to Riverbay Corporation by and cash payments are not accepted.

At closing for the new apartment, the transferring advance. The transferring shareholder will then be billed the pro-rated amount based on the scheduled move-in date for the new apartment.

It should be pointed out that Riverbay does not warrant or represent that shareholders who downsize their apartments will continue to be eligible for the Senior Citizen Rent eligibility for these respective programs with SCRIE and/ or DRIE.

In 2019, following HCR’s initial approval of this pilot program in Co-op City, a representative of HCR told the Co-op City Times: “HCR is pleased to support Riverbay’s ‘rightsizing’ proposal and to work with the housing company to increase access to affordable housing for seniors and families. This is a win-win for all. It gives Co-op City’s long-term senior residents the option to transfer to smaller, more affordable units with no out-of-pocket costs, and thereby remain in the community where they’ve raised their families. At the same time, it frees up larger apartments for growing families in need of affordable housing.”

Since this downsizing pilot was made available in Co-op City, Residential Sales has completed 28 transfers to smaller apartments.

At the July 12th Board meeting, there was discussion about eligibility and the number of shareholders who have taken advantage of the downsizing waiver. Following discussion, the Riverbay Board voted overwhelmingly to approve Resolution 23-26, which was submitted by Board President Sonia Feliciano and Director Rod Saunders. Directors Monique Coleman, Bernard Cylich, Daryl Johnson, Kevin Lambright, Andrea Leslie, Michelle Marbury, Leslie Peterson, Leah Richardson, Bishop Angelo Rosario, Claudia Sampson and Lynette Wright joined in voting yes on the resolution. Director Anika Green-Watson was absent.

The July 12th Board meeting was broadcast live to the community on the Riverbay Crawler. The meeting is being rebroadcast daily on the Crawler at noon, 5 p.m., 9:30 p.m. and 3 a.m. It will be available until Sunday at noon. To view the Riverbay Crawler, Master Antenna subscribers should tune to channel 12 and Optimum subscribers to channel 591.

Be An Engaged Shareholder

Shareholders are encouraged to submit input on how to improve services and service delivery as well as other ideas that impact the quality of life of Co-op City residents. If you have a suggestion you’d like to share with the Riverbay Board and/or Management, visit City website, coopcity.com, scroll down to the bottom and click on the “Comments & Suggestions” link or scan the QR Code here to be connected.