rochdale Village Board oF direcTorS MeeTing resolutions - FeBruary 27, 2023

or “Bulletin” will be paid according to the existing fee structure. These groups can hold fundraising events in building community rooms and community center subject to the existing fee structures.

Other New Rochdale Groups & Organizations: May have access to building community rooms to hold meetings under appropriate circumstances. Requests to hold events and activities will be evaluated by the Board of Directors on a case-by-case basis. If the building community room or community center is the appropriate venue, the organization or group should submit their request to the Board at least fourteen days in advance of the proposed event. Requests for in-kind use of community center facilities will be determined on a case-by-case basis by submitting a written request to the Board at least fourteen days prior to the proposed event and provided the requested facility is available.

Any denials should be provided to the organization or group within five (5) business days.

If any group is denied access or permission to form that denial will be in writing containing the reason for denials, signed by the Board President and a copy will be submitted to HCR within thirty (30) days of receipt of the request.

If any funds or monies are to be collected as part of any event or activity, the group or organization must state the purpose the monies will be used for and provide a statement all monies will be directly used for that stated purpose. A statement of full disclosure for the use of such monies must be on any advertisement used by the group or organization.

Existing Organizations will be identified and grandfathered in. Such organizations will be required to provide their mission statement and the names and addresses of the principals for Board files.

For

A. To submit a repayment plan to the Board for the missed deposits of $1,756,197.00 by close of business by Friday, March 10, 2023.

B. Provide an account of how we spent the $17,345,364.00 withdrawals from the HCR Reserve Account. Kindly include the withdrawals, what we spent i.e. was it a project or an emergency, the resolution number, the date passed if applicable, again by close of business March 10, 2023.

Based on that background information;

BE IT RESOLVED that the Rochdale Village Board of Directors adopts the policy outlined below for the HCR Reserve Account effective February 27, 2023.

It has come to the Board’s attention that the HCR Reserve account balance is at $1.4 million. This account is set aside for emergencies such as gas leaks, significant and/or unexpected repairs for plumbing and electrical. This is not an all-inclusive list.

The minimum balance in the HCR account is set at $8 million. Withdrawals beyond the minimum balance may not take place without Board approval. In such instances, Management is required to provide a detailed outline of the emergency and how the monies will be subsequently deposited to achieve the minimum balance.

It has come to the Board’s attention that there have been months in which the required $195,133.00 monthly deposit to the HRC reserves was not made. Therefore, management must notify the Board in writing, providing an explanation as to why they are unable to make the monthly deposit. Additionally, management will provide a schedule for repayment of the missed deposits. These deposits are effective immediately.

For

Letisha Azizah

Nadine Browne

Jean Hall

Althea Hicks

Kamal Saleem

Gary Hawkins

Jean Randolph-Castro

Clifton Stanley Diaz

Derrick Shareef

Abstain

Absent

Keysha Beasley

Stacey Francis

Khedda Hayden-Ryan

Maryam Hubbard

Sheila McKenzie

Edward Douglass

Eleven for, three abstentions, three absent: motion passes.

R06-23: BOARD ADOPTS POLICY FOR HCR RESERVE ACCOUNT

Moved by: Stacey Francis

Seconded by: Keysha Beasley

Resolution involves the policy for the HCR Reserve account, and I just want to give a little background information, so you can follow along with me and I am going back to the year 2019.

(1) In the year 2019 $8,232,725.00 was deposited into the HCR Reserve Account from the $195 million refinance.

(2) After that deposit the balance in the HCR Reserve account was $12,575,136.00

(3) Therefore, the opening balance prior to the $8,232,725.00 deposit was $4,342,411.00

(4) & (5) From October 2019 to October 2022 there were thirty-two deposits for the monthly amount of $195,133.00. That equated to $6,244,256.00. If I add the $12,575,136.00 to the $6,244,256, we have in that account $18,819,392.00

(6) I need to note that there were five missed deposits in the year 2020, April May, June, July and August which totaled $975,665.00

We had two missed deposits in 2022, November and December which totaled $390,266.00

We also had two missed deposits in 2023, January and February for an additional $390,266.00.

The total of the missed deposits thus far has been $1,756,197.00 in the HCR reserve account

(7) If I subtract our current balance of $1,473,965.00 we spent from 2019 through 2023, a total of $17,345,364.00 from the HCR Reserve.

Based on this we have some action items for Management.

Letisha Azizah

Nadine Browne

Jean Hall

Khedda Hayden-Ryan

Maryam Hubbard

Keysha Beasley

Stacey Francis

Gary Hawkins

Althea Hicks

Sheila McKenzie

Jean Randolph-Castro Kamal Saleem

Absent

Clifton Stanley Diaz

Derrick Shareef

Twelve for, three absent: motion passes.

Edward Douglass

R07-23: BOARD APPROVES FISCAL YEARS 2024 AND 2025 BUDGET

Moved by: Jean Hall

Seconded by: Khedda Hayden-Ryan

WHEREAS, the Rochdale Village Inc. (“Rochdale”) prepared operating Budgets for the Fiscal years ending March 31, 2024 and March 31, 2025; and

WHEREAS, Rochdale Village, Inc. (“Rochdale”) Board of Directors received Budgets for Fiscal Years 2024 and 2025;

BE IT RESOLVED, that the Board of Directors approves the Budget for Fiscal years 2024 and 2025, subject to the approval by New York State Homes and Community Renewal.

For

Letisha Azizah

Nadine Browne

Jean Hall

Khedda Hayden-Ryan

Maryam Hubbard

Keysha Beasley

Stacey Francis

Gary Hawkins

Althea Hicks

Sheila McKenzie

Jean Randolph-Castro Kamal Saleem

Absent

Clifton Stanley Diaz

Derrick Shareef

Twelve for, three absent: motion passes.

R08-23:

Moved by: Jean Randolph-Castro

Seconded by: Gary Hawkins

Edward Douglass

WHEREAS, Rochdale must comply with the New York City Facade