Co-op City Times 12/06/14

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Co-op City’s official newspaper serving the world’s largest cooperative community. © Copyright 2014 Co-op City Times

Vol. 49 No. 49

Power Plant earns $500,000 check from ConEd through backup energy program The Riverbay Corp.’s cogeneration Power Plant, which supplies the energy for the entire Co-op City community, generated $500,000 in revenue for shareholders this summer by participating in two Con Edison backup energy programs. ConEd’s Rider U program or the Distribution Load Relief Program (DLRP), runs from May through September, and is designed to help ConEdison resolve distribution problems on its electrical networks in case of an emergency on their system. Participants, such as the Co-op City Power Plant, are given one to two hours advance notice to reduce their electric demand, then there is either an hour of testing, or five-hour events. The Rider S program, or the Commercial System Relief System, runs concurrent with the DLRP and is BY JIM ROBERTS

open to customers who can curtail load or bring on certain onsite generation to reduce their demand with a minimum of 21-hour notice before a planned event which is generally called when the day-ahead forecasted load level is at least 96 percent of ConEd’s forecasted

summer system peak. Riverbay is in a night peaking network. Both of these programs offer financial incentives for those who

HCR policies for incoming and transferring shareholders

In 2012, the New York State Division of Housing and Community Renewal (DHCR) issued new guidelines for Riverbay’s implementation which affected outgoing and transferBY ROZAAN BOONE

Riverbay Corporation – “The Open Cookie Jar”

Saturday, December 6, 2014

(Continued on page 4)

ring shareholders. Since then, outgoing shareholders have been responsible for the payment of carrying charges for up to 90 days (Continued on page 4)

Palombo Bakery & Restaurant in the Bartow Shopping Center was closed by the New York City Marshal on Dec. 4, 2014 for failure to make lease payments to the Riverbay Corporation. The store will remain closed over the weekend. However, both parties are working towards resolving their disagreement and hopefully, the reopening of the store. Photo by Jim Roberts

25¢

Lessons to be President’s Message tive around. It was learned from Exothese values that dus: Chapter 20, made me wonder 11 Verse 15 and 1 years ago whether President John: Chapter 3, MSI, or Iris Baez or Verse 4-10 a few Riverbay employees “Thou shall not steal” were up to no good in “Sin is lawlessness” our community, either by Dear beloved Sharedesign, ignorance or both. holders: Even then, I pledged that I would like to thank I would work to make you for the overwhelming Riverbay a good place to support you have given me work and live, and to root and the “new” Board of out improper or illegal Directors during this time activity. of transition (6 months). Perseverance The thunderous group of 563 One of the books I have read for guidance in life is the Bible (New shareholders who turned out on and Old Testament). One book that Wednesday, November 19th, to disJews and Christians share is cuss the Marion Scott Real Estate, Exodus. Another book in the Bible Inc. (MSI) investigation resolution gave me the strength to continue foris John, Chapter 3, verse 4 through ward in a voluntary effort to turn this 10, which most reasonable people ship around. will understand. I have received countless number Two passages always guide me. of heartfelt congratulations and 1st Exodus 20, verse 15: “thou shall thank you’s from the shareholders not steal.” This commandment, writfor the actions I’ve taken on behalf ten in both the Torah and the Bible, is of the Board in stopping the use of one of the 10 commandments and if Riverbay employees to benefit MSI we were to apply the full spirit of the word of God, most of mankind’s while on Riverbay’s clock. problems would disappear. I have been relying on my faith in Unfortunately in the business God and the college education my world, many company Executives parents provided me, coupled with my 35 years of professional work experience to help turn this coopera(Continued on page 2)

Cleve Taylor

Join the National March for Justice! Saturday, December 13, 2014 in Washington, D.C.

The Board of Directors of the Riverbay Fund is appealing to community residents to join the National March Against Police Violence on Saturday, December 13. The national march, which is being organized by the National Action Network, will take place in Washington, D.C. A bus and car caravan leaving from Co-op City is being planned and residents are encouraged to take the time to join this important endeavor and to raise their voices in denouncing the senseless killing of African American men at the hands of police officers throughout the nation, as well as the failure of grand juries to indict the police officers responsible for these fatal encounters. The families of Eric Garner, Michael Brown and Akai Gurley will be in attendance and you are asked to join these families as they continue to fight for jus-

tice for their loved ones in a peaceful, responsible and non-violent manner. Please become involved and help affect necessary changes in the way communities are policed across this great nation. This is not a black or brown issue; it is an American issue, as evidenced by the thousands of people of all races who have been peacefully protesting in cities all across the nation in the wake of the Staten Island grand jury’s decision not to indict in the case of Eric Garner. If you would like to join the Co-op City caravan next Saturday, December 13, using your personal vehicle, departure will be from in front of the former Bingo Hall on Bartow Avenue at 5 a.m. sharp. Updated information will be disseminated during the week, if necessary. Please keep checking the Riverbay (Continued on page 2)


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