Co-op City Times 8/3/19

Page 1

Vol. 54 No. 31

Saturday, August 3, 2019

DHCR sets carrying charge conference with shareholders, will solicit comments on proposed increases

$1.25

Section 5 Splash Day

Written comments also being accepted

NYS Division of Housing and Community Renewal (DHCR) has scheduled a conference to solicit comments from Co-op City shareholders on two proposed 1.9 percent carrying charge increases over the next two fiscal years of the Riverbay Corporation to cover capital project expenses. The conference will be held on Wednesday, Aug. 7, at 6:30 p.m. in room 45 of the Einstein Center. DHCR is also accepting written comments from shareholders which must be postmarked on or before Aug. 7, 2019. Written comments should be addressed to: George Simon New York State Division of Housing and Community Renewal Office of Integrated Housing Management 25 Beaver Street, 6th Fl. New York, NY 10004 DHCR has been reviewing the 2-year budget (2019/2020 and 2020/2021) approved by the Board of Directors at its April 3 meeting after several months of negotiations between the Board and Management, and also with DHCR, to come up with ways to lessen the financial burden on current shareholders. As a result, while the proposed 1.9 percent maintenance increase would raise the monthly per room charge by $4.27 this year and $4.35 next year, equity payment required from incoming and transferring shareholders will go up by $1,000 to $5,500 per room. (Continued on page 2) BY ROZAAN BOONE

Board Greenlights $5M Dreiser Auditorium Renovation Ten of 15 Riverbay Board Directors voted July 24 in favor of resolution #19-24, greenlighting an extensive Dreiser Community Center remodeling project. Structure Craft Contracting LLC, the recommended choice of the top three companies chosen, won the bid battle as the company for the job. The major renovation project for the Dreiser assembly hall, including the auditorium’s attached rooms, entrance, and lobby space as well as the restrooms, is not to exceed the contract total of $5.6 million. Although originally reported in the Dec. 12, 2015, edition of the Co-op City Times with an estimated cost between “$1.5 and $2.5 million,” Danielle O’Connor, Riverbay’s director of commercial and leasing, confirmed that number was a general figure at the time and not based on actual contractor estimates. She added the scope of the project has grown since (Continued on page 2) BY TORIEA McCAUSELAND

Co-op City channels remain in place amid TV repack BY JASON CHIREVAS People of Co-op City, do not rescan your set. He controls the horizontal. He controls the vertical. He controls the transmission so you don’t have to. Any shareholder who watches television through Co-op City’s master antenna may have other reasons to mark this past Thursday, Aug. 1, as significant, but they are likely not aware that was the day of the latest TV repack, in which overthe-air broadcast television stations are moved to different frequencies. Typically, this means receivers of those signals have to use their digital TV sets to rescan the band and re-find all the channels they enjoy. But in Co-op City, everything remained the same Aug. 1, or appeared to, and there’s a reason for that: Riverbay Technical Services Director Rick Schmidt. After American broadcast television switched from an analog signal to a digital one June 12, 2009, as mandated by the Federal (Continued on page 4)

Kids cool off from the summer heat during Section 5 Splash Day, sponsored by the Riverbay Fund. There were inflatable water slides for the kids to choose from and even an inflatable water themed obstacle course. In addition, if the kids wanted to dry off they could hop on the toy train ride that was making laps near the Section 5 greenway. Look out for the next Splash Day on Thursday, Aug. 22, at the Section 1 greenway from 11 a.m. to 3 p.m.

Senior and DRIE-qualified shareholders have until June 2020 to apply for apartment downsizing Photo by Brandon Ortiz

The first ever apartment downsizing program approved by the state Division of Homes and Community Renewal (HCR) for a Mitchell-Lama development was implemented this month in Co-op City and eligible shareholders can now submit an application to downsize their current residential unit. The downsizing program was pursued by Riverbay Management at the behest of the Board of Directors to free up the corporation’s stock of larger apartments and allow seniors – who have since raised their families and no longer require those large apartments – the chance to downsize without having to pay the current equity for the new apartment and three months carrying charges for the old unit as required by HCR regulations, which is cost prohibitive for many living on fixed incomes. Transferring shareholders will, however, be required to pay for any damages to the old unit beyond normal wear and tear as well as incidental charges associated with the application process to secure the new unit. Riverbay Board President Linda Berk said: “I am happy that the Board of Directors has been able to work cohesively to bring about a major regulation revision to provide a necessary relief for seniors and disable shareholders of Co-op City. Getting HCR to consider Riverbay’s request was a journey of patience and persistence. Nothing good comes easy and consideration and approval from HCR demonstrates how perseverance pays off.” “I thank HCR for approving our request to allow downsizing,” Riverbay’s executive general manager Bob Klehammer said in the May 4 issue of the Co-op City Times after the waiver was granted. “Not only will this allow elderly and handicap residents to remain in the community and lower their housing costs, but it will also create additional transfer opportunities for families seeking larger units.” HCR approval was finalized in late April after more than six years of the Board and Management petitioning the agency, local elected officials and the governor’s office to relax the regulation to allow seniors to move to smaller, more affordable living spaces. As reported in the May 4, 2019 issue of the Co-op City Times, this is the first such waiver of its occupancy regulation HCR has approved for a Mitchell-Lama development and only after several meetings (Continued on page 3) BY ROZAAN BOONE


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