Skip to main content

Co-op City Times 03/23/2024

Page 1

Vol. 59 No. 12

Saturday, March 23, 2024

Important Notice to Shareholders

$1.25

DHCR Notice on Carrying Charge Increase

April 1, 2024 Carrying Charge Invoices Delayed The Riverbay Finance Department informs shareholders that the April 1, 2024 carrying charge invoices will be late due to a change in the effective date for the recently ordered 8.1% carrying charge increase by the New York State Division of Housing and Community Renewal (HCR). (See notice printed at right on this page which was received by Riverbay Corporation on Friday afternoon, March 22, 2024, just before press time.) The effective date of the increase has been changed from April 1, 2024, to July 1, 2024. Although the April 2024 carrying charge invoices will be late, the Finance department advises shareholders to submit their April 2024 carrying charges using their current rate. When paying without the statement, simply indicate the building and apartment on the check and drop in the carrying charge boxes. This delay in implementation of the HCR-ordered carrying charge increase is a result of negotiations by State Senator Jamaal Bailey, State Assemblyman Michael Benedetto with HCR and the governor’s office. More details will follow in next Saturday’s Co-op City Times.

Join the 2024 Riverbay Board Election Committee Dear fellow Shareholders, As we prepare for the upcoming 2024 Riverbay Board Election, we are excited to extend an invitation to dedicated individuals who would like to join the Election Committee (the “Committee”). This is a unique opportunity to actively participate in shaping the future of our community and ensure that the electoral process remains fair, transparent, and inclusive. The Committee plays a crucial role in overseeing the electoral process. We are seeking individuals who are dedicated to promoting participation, maintaining neutrality, and safeguarding the security and confidentiality of the election process. If you possess integrity, strong communication skills, and a willingness to learn, we encourage you to consider joining the Committee. (Continued on page 3)

Updates – CCPD Staffing, Apt. Repairs, Local Law, Garage Elevators & Convectors and more Management Report

Marvin L. Walton Riverbay Executive General Manager On behalf of Douglas Elliman Property Management, I am pleased to present the Management Report for Riverbay Corporation for the period ending February 29, 2024. This Management Report covers staffing for the Public Safety Department, Apartment Repair Reform, update on Local Law 11, Garage Elevator Modernization Project, and updates for the on-going convector initiatives. Public Safety Staffing CCPD current staffing levels are 39 short of (Continued on page 2

Early Voting in NY Presidential Primary Begins Today, March 23, See Story on Page 3

Annual Income Affidavits Filings, See Story on Page 4 City & State Interagency Task Force on Ghost Cars, See Story on Page 11

Shareholders Express Sentiments at Town Hall About 8.1% Carrying Charge Ordered by HCR BY ROZAAN BOONE

A capacity crowd filled the Dreiser Auditorium on Thursday evening, March 20, for the town hall meeting with the Riverbay Board of Directors and Management to discuss the 8.1% carrying charge increase which will now become effective on July 1, 2024 instead of April 1, 2024. The meeting brought out hundreds of shareholders, many who stayed for the duration of the town hall which lasted more than two hours. In all, 26 shareholders signed up to ask questions or comment about the increase. The program was also broadcast live on the Riverbay Crawler for those who preferred to watch from the comfort of their homes. In addition, some shareholders also remained for the Board Business meeting following the town hall. In her opening statement, Riverbay Board President Sonia Feliciano informed shareholders that Riverbay Executive General Manager Marvin Walton had Riverbay Board of Directors and Management held a completed a series of town hall on March 20th with Co-op City shareholders meetings with the leadto discuss the HCR-ordered 8.1% carrying charge in- ership of active building crease. Board members and Management responded to and townhouse associations that were aimed shareholders’ questions during the meeting. Photo by Rozaan Boone

(Continued on page 4)


Turn static files into dynamic content formats.

Create a flipbook
Co-op City Times 03/23/2024 by Co-op City Times - Issuu