M e r r y C h r i s t m a s a n d H a p p y H o l i d a y s f r o m t h e C o - o p C i t y Ti m e s !
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Real estate group awards ‘General Management Team of the Year’ honors to Co-op City Vol. 48 No. 51
The leaders of Co-op City have been recognized as the “General Management Team of the Year” by a prominent New York City real estate association. The New York Association of Realty Managers (NYARM) will present the award at its annual dinner on Jan. 25, 2014. The award is being presented to the Riverbay Board of Directors; Riverbay’s Management, Marion Scott Real Estate, Inc.; also to Herbert Freedman, Vernon Cooper and Gail Badger-Morgan; Riverbay Corp. and Riverbay Board President Bill Gordon, and former Board President Helen Atkins. “NYARM selected the Co-op City team as the recipient of this year’s award in recognition of the magnitude of the dedication required, and the focus that has to be constantly in place, to maintain and operate the largest
BY JIM ROBERTS
© Copyright 2013 Co-op City Times
Saturday, December 21, 2013
cooperative housing development in the world,” said Margie Russell, Executive Director of NYARM. “Many management books have been written on how the factor of complexity increases exponentially on projects such as this, and for the management team to have dedicated their professional lives to one mission, and for the Board of Directors to dedicate much of their personal lives, this warrants recognition. “Additionally, they have been leaders in the apartment management industry allowing their peers the benefit of learning from their experience and expertise, and this improves both the City and State of New York,” Russell said. Riverbay Board President Bill Gordon said, “This is recognition of the great work being done in this community (Continued on page 3)
Riverbay Holiday closings and Co-op City Times deadlines All Riverbay’s administrative offices will close at 1 p.m. on Christmas Eve, Tuesday, December 24. The following week, on New Year’s eve, Tuesday, December 31, all administrative offices, EXCEPT the Rent Bookkeeping office, will again close at 1 p.m. Since December 31st is the last business day of the month, the Rent Bookkeeping Office will remain open until 5 p.m. ONLY on Tuesday, December 31. Because of these holiday shortened work week, Directors’ viewpoints and community organizations’ articles must be submitted on time by their respective deadlines: For club articles, by 3 p.m. on Monday, Dec. 23 and again on Monday, Dec. 30. Directors’ viewpoints are due by 5 p.m. on Monday, Dec. 23 and on Monday, Dec. 30. Material submitted after these times will not be considered for publication in the Saturday, December 28th, 2013
issue and the Saturday, January 4, 2014 issues of the Co-op City Times, respectively. Please note that the regular business hours of the Co-op City Times are 9 a.m. to 5 p.m. each weekday. Material for publication may be emailed to cctimes@riverbaycorp.com; faxed to (718) 320-2595 or slipped under the office door at 2049 Bartow Avenue, Rm. 21. Although the administrative offices will be closed on Wednesday, December 25, in observance of the Christmas holiday, and on Wednesday, January 1 for New Year’s Day, shareholders may contact Riverbay at (718) 320-3300, and follow the prompts for emergency maintenance, and the Co-op City Public Safety Department for emergencies at (718) 671-3050, as well as 9-1-1. We wish our readers a merry Christmas, happy Kwanzaa and Three Kings celebrations, and a healthy and prosperous New Year.
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Voting on Optimum Preferred bulk cable proposal ends
Riverbay Management, after consulting with the Riverbay Board President and Cablevision, on Wednesday announced that voting on the bulk cable proposal from Cablevision will end on Dec. 20 as reported last week with no further extensions until a review of the overall proposal has been conducted. At this point, it has been determined that a more detailed review of the offer is warranted before shareholders are perhaps given a final, more controlled opportunity to vote on the cable bulk sale which would save shareholders a significant amount off of their cable TV bills each month. In correspondence to the Board this week, Herbert Freedman, principal of Marion Scott Real Estate, Inc.,
BY ROZAAN BOONE
Riverbay’s managing agent, stated that subject to discussion with the Board and Cablevision, the thought is to revisit this issue at a later time with proper ballots mailed to every shareholder of record, and a review of the overall proposal to be presented to all shareholders with enough time to question and decide whether they would like to enter into a bulk cable sale agreement with Cablevision except that this time, Management would be involved to ensure that proper procedures are being followed. “We said from the beginning that this process would only go forward if a majority or 2/3 of the shareholders of this community participate in this exploration and if 2/3 of those participating (Continued on page 4)
Basic STAR registration deadline is next Tues., Dec. 31
Co-op City shareholders who receive Basic STAR (School Tax Relief Exemption) are reminded that the deadline to register with the New York State Department of Taxation and Finance in order to receive the credit in 2014 and in subsequent years is next Tuesday, December 31, 2013. Register at the New York State Taxation and Finance Department’s website at www.tax.ny.gov, or by calling the department at (518) 457-2036, Mondays to Fridays, 8:30 a.m. – 8 p.m. and on Saturdays from 9 a.m. to 1 p.m.
Advanced price-fixed fuel purchases likely to save Co-op City residents more than $1 million this winter
An ongoing program through which Co-op City is able to pre-order fuel in advance, before the market-rate fuel prices rise on typical winter season demand, has already saved Co-op City residents more than $430,000 in energy costs for December. Arthur Debowski, a Vice President for the energy consulting firm Great Eastern Energy, works almost daily with Riverbay Finance Director Peter Merola and management’s Herb
BY BILL STUTTIG
Freedman in consulting about the regular fluctuations of energy prices and the best time to lock in purchases. Debowski told the Co-op City Times this week that due to a number of factors, principally Co-op City’s decision to purchase heating fuel in advance earlier this month before a recent sharp rise in market rate energy costs, the community will save approximately $430,000 in fuel-related energy costs (Continued on page 2)
Discounted parking in effect this holiday season (see p.2 for full story)