Co-op City Times 10/01/16

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HAPPY ROSH HASHANAH 5777 TO OUR READERS Co-op City’s official newspaper serving the world’s largest cooperative community. © Copyright 2016 Co-op City Times

Vol. 51 No. 40

Saturday, October 1, 2016

Improved Finances and Changing Election Procedures Focus of Open Board Meeting BY BILL STUTTIG

An improved financial outlook for Co-op City was reflected in financial statements released to the shareholders this week and explained at the Open Board meeting by Ed O’Connor, a principal for the accounting firm charged with preparing Riverbay’s annual external audit. Mr. O’Connor was one of several guest speakers at the open Board meeting in Bartow Community Center Wednesday evening, Sept. 28th. He gave shareholders in attendance and hundreds more who will be watching replays of the meeting on television later this Edward O’Connor, a partner with the accounting week a quick review of the com- firm of PFK O’Connor Davies, LLP provides an of the recently completed 2016 prehensive financial report which overview Audited Financial Statements for Riverbay Corwas also mailed to each Co-op poration to shareholders attending Wednesday City home earlier this week. Each evening’s open Board meeting. Photo by Bill Stuttig

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Closing Statements on a Failed System and fall into decline because of unknowledgeable and, in at I would like to take least one instance, corthis opportunity to say rupt leadership. a wholehearted “thank President Each time this hapyou” for your support pened, it led to poor during my tenure on the decision making and cost Riverbay Board of Directors increases. In this current and my 40 years of residency business environment and in this cooperative commuwith a 49-year-old infrastrucnity. I have had the pleasure ture, the shareholders of of serving you as an elected Co-op City cannot afford to member to the corporation’s make these same manageBoard from 2004-2009 as ment mistakes again. Board director and treasurer. During my first tenure, I Then, after re-election to the was asked to help Co-op City Board in 2014, to present, as in 2004 by the Coalition To Riverbay Corporation’s president. I Save Affordable Housing and its thenwould like to share my opinions with president, Bernard Cylich. At that time, you on a number of issues relating to that experience. I’ve watched our community rise (Continued on page 2) Dear shareholders and Riverbay staff:

President’s Message

Cleve Taylor

(Continued on page 23)

Co-op City’s satellite dish safety rules BY ROZAAN BOONE

Co-op City satellite dish safety rules, which were adopted by the Riverbay Board of Directors on April 28, 2004 in compliance with the Federal Communication Commission (FCC)’s Telecommunications Act of 1996, ensure the safety of all Co-op City shareholders. Co-op City’s Occupany Agreement prior to the implementation of the new safety (Continued on page 6)

Foundation For New High Speed Boiler Nearing Completion BY BILL STUTTIG

A foundation for the Power Plant’s new 190- ton high pressure boiler moved a big step closer to completion this week as concrete was poured into the foundation that was recently reinforced with additional necessary pilings to support the massive piece of equipment. Anthony Ligato, Riverbay’s Director of Utility Services, who took over direct supervision of the long delayed, but essential project earlier this year, said that the completion of the foundation is actually ahead of schedule and the massive new boiler will likely be placed inside the power plant by the first week of November before the onset of winter weather. Workers perform the final preparations of the “Preparation for the placement recently reinforced foundation for the Power of the boiler and the accompanyPlant’s new 190-ton high pressure boiler just moments before numerous truckloads of coning economizer will be completed crete were poured into it earlier this week. It by the end of October,” Mr. Ligato will take 28 days for the concrete to cure sufficiently enough for the boiler to be permanently said this week. “We want to get the placed on the foundation.

Photo by Bill Stuttig

(Continued on page 6)

This weekend’s events… Today, Sat., Oct. 1, beginning at 9 a.m., the 5th Annual Co-op City College, Career & Resource Fair will be held in the Dreiser Auditorium. See page 5 Tomorrow, Sun., Oct. 2, the 2016 Disabilities Expo will be held in the Dreiser Auditorium, 10 a.m. to 4 p.m. Wellness on the Go van on street level. See event schedule on page 4.

On Sunday, October 2, Parking is not permitted on Dreiser Loop from 8 a.m. until 6 p.m. From 133 Dreiser Loop (Nail Salon) to the corner 149 Dreiser Loop (Capri Pizza) “No Parking” signs are posted.

Executive GM Gives Progress Updates to Community Violators will be summonsed and towed

Technology Upgrades His First Priority

BY BILL STUTTIG

agement, said: “Some of my early tasks Publicly addressing the shareholders and goals was to meet with department for the first time since coming to Co-op heads, starting to evaluate their business City in early July, Executive General (Continued on page 4) Manager Bob Klehammer told the more than 200 shareholders who came to an open Board meeting in Bartow Community Center Wednesday evening that he and Riverbay staff have been laying the groundwork for many improvements over the coming months and years and residents should begin noticing some results soon. Co-op City Executive General Manager Klehammer, who Riverbay’s Executive General Manager Bob also holds the title of vice presiKlehammer publicly addresses Co-op City residents for the first time at Wednesday’s open dent and managing director of Board meeting. Photo by Bill Stuttig Douglas Elliman Property Man-


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