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it. HCR normally takes longer than thirty days to complete the review process. In addition, HCR does not normally impose an increase retroactively. In that regard, I instructed Management and Legal to advise HCR that January 1, 2023 is a more realistic date for any increase to take effect and that Riverbay will not impose any retroactive increase on our shareholders, even if HCR approves one. I also instructed Management and Legal to impress upon HCR the need to fashion any increase in a manner designed to ensure shareholder eligibility for SCRIE and DRIE assistance. These two programs protect income-eligible seniors and disabled households from any increase in their regular monthly maintenance. Rather than imposing the additional cost on the protected household, the government provides Riverbay with a reduction in the amount of taxes Riverbay would otherwise have to pay.
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You will be getting our Independent Auditor’s report depicting a breakdown
We have an Open Board meeting scheduled for Wednesday, October 26, 2022, to hear from our shareholders and to have you meet with our directors to lobbies with time and location.
If you have any questions or concerns, please write to me in care of our
We are Shareholders First – We Matter! ________________________________
Estimados compañeros de accionistas:
Riverbay Corporation ha presentado la resolución de la junta que recomienda casas) para su consideración. HCR le dijo a Riverbay que otros proveedores de viviendas han indicado una necesidad similar de un aumento, citando el aumento
Varios accionistas expresaron su preocupación durante la fecha del 1 de noviembre de 2022 a la junta en la resolución recomendando un aumento de mantenimiento. La fecha se puso en la resolución como marcador de posición HCR normalmente no impone un aumento retroactivamente. En ese sentido, departmento legal que impresionaran al HCR la necesidad de diseñar cualquier aumento para garantizar la elegibilidad de los accionistas para la assistencia de Scrie y Drie. Esos dos programas protegen a los hogares de personas mayores y discapacitados elegibles para ingresos de cualquier aumento en su mantenimiento mensual. En lugar de imponer el costo adicional en el hogar protegido, el gobierno proporciona a Riverbay una reducción en la cantidad
Ustedes van a recibir el informe de nuestro auditor independiente que rep
Tenemos una reunión abierta de la Junta para el miércoles 26 de octubre de para abordar cualquier inquietud que ustedes tengan debido a nuestros hogares.
Primero somos accionistas, Nosotros importamos!
45th Pct. Fall Festival
Fall Festival on Sunday, October 16, from 11 a.m. to 3 p.m. for children. There will be a kids costume contest, face painting, pony rides, a bounce house, pumpkin decorating, and refreshments. This is an opportunity for partake in childhood events that support and bring about a positive foun
GOT FOOT PAIN?
Following All CDC Guidelines
CO-OP CITY FOOT CARE CENTER
The Premier Foot And Ankle Practice In Co-op City
TWO LOCATIONS! Third Location Coming Soon! SECTION 2
BUILDING 13 100 CASALS PLACE SECTION 5 BUILDING 29C 4240 HUTCH. RIVER PKWY E.
www.footanklerestore.com
718-671-2233
OPEN MON. THRU SAT. – Available Evenings and Weekends
DR. KARIM A. BADAWY, DIRECTOR
DR. JAMES MILIDANTRI • DR. HOSSAIN ROUF
ALL FOOT AND ANKLE CONDITIONS TREATED
SERVICES PROVIDED ON-SITE:
Hi-Tech
• Fully Digital X-Rays LASER for Pain, • Hi-Tech Ultrasound Inflammation, Fungal Nails, • Full Range of Vascular Testing Warts • Caring and Supportive Doctors and Staff Who Listen to Your Concerns • Highly Rated Neighborhood Foot and Ankle Care HEEL AND ARCH PAIN CENTER. COMPREHENSIVE DIABETIC FOOT CARE MANAGEMENT. HOUSE CALLS BY APPOINTMENT.
Most Health Insurance Plans Accepted: 1199, Aetna, GHI, Blue Shield, Empire, Medicare, United Healthcare, HealthFirst and others. Affordable Prices Available For Patients With High Deductibles/No Insurance.
Co-op City Times
2nd Front Page
COMBING
Find out what’s going on in Co-op City here...
Truman HS October PTA Meeting
The next meeting of the Truman High School PTA will be on Thursday, October 20, from 6:50 p.m.-8 p.m. These meetings are virtual. Dial-in: US +1-413-8933293, PIN: 540 236 576#; https:// meet.google.com/nfk-gbvn-rgk. Shredding Event
Councilman Kevin C Riley, in collaboration with CB10, Riverbay, and USA Shred, is sponsoring a free shredding event for paper documents only, Sat., Oct. 15, 10 a.m.-1 p.m., 120 Erskine Place, Section 5 Greenway. For more info.: 347-3268652, or jyapp@councilnyc.org. Safe Disposal, Oct. 22
The NYC Dept. of Sanitation Safe Disposal event at Orchard Beach parking lot, Saturday, Oct. 22, 10 a.m.-4 p.m., rain or shine.
Among the items accepted: mo batteries, unwanted medicines and cosmetics; thermometers; syringes (clearly labeled “sharps” in a leakproof, puncture-resistant container); pesticides, paint, hazardous bulbs; computers, tv’s and printers.
Visit www.nyc.gov/safedisposal or contact 311 for additional disposal options.
Test & Treat Mobile
Van in Co-op City
NYC Test & Treat Corps’ Mobile Test to Treat unit is available daily on a rotating schedule at the three shopping centers, 8 a.m.-6 p.m. as follows next week:
Mon., Oct. 10, Columbus Day, the van is unavailable.
Tues.: 135 Einstein Loop
Wed./Thurs.: 2049 Bartow Ave.
Friday, Saturday and Sunday: 177 Dreiser Loop.
Locations are approximate depending on availability of parking.
The mobile Test to Treat Rapid Testing van does not offer PCR testing. Anyone who tests positive for COVID at the Test to Treat mobile van can speak with an onsite clinician, and, if eligible, receive free Paxlovid anti-viral medication.
Appointments not required. Bring ID and insurance card, if available. Please note that insurance is not necessary to use this service; it is open to everyone.
BY BRANDON ORTIZ
The New York City Redistricting Commission voted on Thursday, Oct. 6, to submit a revised plan of the City Council district maps to the New York City Council.
Commissioners were voting on changes made to the maps during a prior session on September 29 and 30.
Altogether, the NYC Redistricting Commission received over 12,500 submissions and comments on the maps from New Yorkers both in-person, via Zoom and from letters, according to the NYC Redistricting Commission. vious round of map adjustments, the commissioners did not add more changes to the district this time around.
Co-op City has not been directly impacted by the proposed versions of Council District 12 thus far. However, advocates for District 12 expressed concern over the district losing cer in August during a public hearing in the Bronx. a part of District 12.
NYC Districting Commission Executive Director Dr. John Flateau explained the updates to District 12 at a prior NYC Redistricting public meeting on September 22.
“There was a population growth in District 12 and it was actually overpopulated by 4,000 persons. So, slight adjustments were made and the lower boundary is now along Arnow Ave the 12th (district),” Executive Director Dr. Flateau said during that public meeting two weeks ago.
A recent NYC Redistricting Commission press release highlighted that a key challenge in developing the maps centered around New York City’s population growing by 630,000 people and eclipsing 8.8 million in the latest U.S. Census data. Of the 630,000 additional people who moved to New York City in the last decade, 55% were Asian and 24% were Hispanic, also according to U.S. Census data.
Another challenge centered around a new state law that required city council districts to have a population between 168,560 to 177,204, or a 5% deviation from the ideal district population of 172,882. Previously, the law allowed a 10% deviation from the targeted district population.
NYC Redistricting Commission Chair Dennis Walcott concluded the meeting by outlining the next steps in the process.
“The plan will be in the hands of the City Council to determine whether they will object to this revised plan. If a resolution objecting to the plan is passed within the next three weeks, then the Commission will prepare a revised plan and make it available to the council and the public for comment, including public hearings,” Commission Chair Walcott said during Thursday’s public meeting.
New York City’s 51 Council Districts are redrawn after the release of the US Census every 10 years. The redrawing process attempts to adjust Council Districts to accurately ous decade. New maps must adhere to the guidelines established by the 1965 Voting Rights Act in order to ensure that minority voting power is not diluted.
Share Your Comments & Suggestions with Riverbay
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 the Home page of coopcity.com, scroll down to the bottom and click on the “Comments & Suggestions” link.
This service has been added at the request of Riverbay Board President Sonia Feliciano to engage with shareholders.
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already stretched thin by unfunded mandates and pandemic-related expenses, as wide economies and caused supply chain disruptions that have driven up prices for commodities and energy.
Con Edison, which supplies electricity to New York City households, predicts that electric bills will increase by 22-28% compared to last winter. Similarly, National Grid, the supplier of natural gas to homeowners in Brooklyn, Staten Island and parts of Queens, projects energy bills will go up by 28% from last year; 29% for Long Island consumers. Oil heat consumers are also expected to spend approximately 12% more this year.
Habitat Magazine, which serves co-ops and condo boards in NYC, reported last week: “This is bad news for co-op and condo boards, which prepared budgets for the current calendar year last autumn — before Russia’s invasion of Ukraine helped turn global energy markets upside down. So what is a co-op or condo board to do when hit with unforeseeable — and possibly budget-busting — midyear spikes in energy costs?”
This year, ConEd warned consumers about the coming winter and the sharp increase in the electric rate approximately one month earlier to help them prepare for the added expense. However, some residential boards had already proactively imposed a fuel assessment on their shareholders.
Building owners and managers essentially either purchase fuel on the daily
Here in Co-op City, the power plant has dual fuel capability which means it can operate on both natural gas and ultra-low sulfur heating oil. Anthony Ligato, Utility Assets Manager of the Power Plant, explained that normally, heating oil is only used in the event the Power Plant is curtailed by Con Edison during ex New York City.
Riverbay Executive General Manager Bob Klehammer reported in the August 27, 2022 issue of the Co-op City Times that Management initially projected the cost of gas for the 2022-2023 heating season to be $12.86M, based on what Riverbay paid last year and on then-prices on the energy market. However, when the 2022-2023 operations budget was reforecast recently to reconcile current market rates for energy to operate the Power Plant which provides air con ures are closer to $31.13M, plus approximately $4.1M for oil used during periods of natural gas curtailment – in totality, almost three times more than initially projected.
In Co-op City Management hedges a portion of the community’s fuel purchases to take advantage of lower prices, to reduce the risk of unexpected sig ings for shareholders. Last year, approximately 60% of the natural gas energy requirements needed to heat Co-op City’s homes and buildings were hedged.
“This year, Riverbay continues to monitor the challenging energy market in order to execute on our hedge strategy by entering into natural gas hedges at opportune times with our energy manager NRG in order to reduce the risk of unexpected price spikes and realize saving versus purchasing natural gas on the spot market,” said Mr. Ligato.
At a Stakeholders’ Meeting held last Thursday, Sept. 29, with representa Fargo bank and New York State Division of Housing and Community Renewal more it costs shareholders to complete projects, maintain the property and address various other needs and requirements. Focusing on energy cost, he noted on the pipeline to New York and ConEd charges from the city gate to Co-op we’ve already spent $10.2M on natural gas.”
Mr. Klehammer went on to note that two years ago, the price for natural gas was about $3 per dekatherm. Last year, it increased to approximately $6.50 per dekatherm. use 8,000-10,000 dekatherms per day. There are periods when we get shut off the 80,000 gallons of oil a day in the winter, so we are also pre-purchasing oil right
Volunteer for 45th Pct. Auxiliary
control and assist in major events, just to name a few.
There is a list of requirements. You can call 212-289-1000, or email joinauxnypd@nypd.org for more information.
In Memoriam – Pablo Cortez
sunrise 9/4/40, sunset 5/25/21. Entombment – vices performed by Circle of Christ Church. “The life of those who are faithful is changed, not ended.” I will see you again.
––M. Cortez
a little over $2 a gallon last year; our most recent purchase is $3.85 per gallon.” shareholders are urged to conserve as much energy as possible by: Unplugging appliances and devices not in use Turning off lights when leaving a room for extended periods of time Keeping appliances clean and serviced Keeping refrigerator door closed Conserving water usage Using a smart power strip future,” said Riverbay Board President Sonia Feliciano. “As owners, adjusting our behaviors towards energy conservation is hard to do. The United States is second to China in energy consumption. This is not good when we hear our resources are depleting. If we do our part to reduce energy consumption in our homes, we will lower our living expenses thereby increasing savings. Let’s work together to make this happen.”
Last week, the Riverbay Board approved Emergency Resolution 22-51 by a 10-5 vote for a 7.5% carrying charge increase citing higher than anticipated expenses “especially for natural gas, oil, water, insurance and necessary mate ers and housing corporations. The increase will most likely be implemented at the beginning of the new year following the HCR review process. (See more on this in the President’s Report on page 1.)
