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Shareholder Information Meeting Recap

posted Mar 10, 2016, 4:47 AM by Marc Donner

The Board and Management conducted a shareholder information meeting on January 28th.  Here is a brief summary of some of the topics covered, whether as part of the board’s presentation or in response to questions by attendees.  Present were board members Rob Stein, Larry Chaifetz, Jeffrey Allister, and Marc Donner as well as Management Executive Mark Weil and incoming Resident Manager Jose Anderson.

We introduced Jose Anderson who has since joined the staff, succeeding Marty Finneran as Resident Manager.  Jose spoke, acknowledging the warm welcome he had received from the attendees and touching briefly on highlights of his career to date.

Treasurer Rob Stein and assistant Treasurer Jeffrey Allister talked briefly about the constraints on the Cooperative’s budget.

Residents praised the staff’s effective work in dealing effectively with snow clearance after the blizzard that hit on January 22nd and 23rd.

Mark Weil talked about current work to ensure building code compliance by our balconies and remediation of small quantities of damaged concrete at the corners of some balconies.

We talked about the new cogeneration project, explaining that the original cogen units had failed in 2014 and that between the NYSERDA subsidy and the insurance reimbursement the Condo was providing less than half of the cost of the new system.

There were questions about the renovation work in the garage.  Neither Management nor the Board was able to provide much definitive information, since the garage owner, ACP, has not provided much information to us.  We were asked about the potential for damage to the building’s foundation, something that is not a concern both because the work is inspected by the Department of Buildings and because the garage is external to the main structure of the residence.

A shareholder asked about AirBnB.  The Board noted that many AirBnB transactions could be considered illegal under New York State Multiple Dwelling Law.  The Board reiterated that it is a violation of the proprietary lease to sublet an apartment without the Cooperative’s written consent.  In addition, the Board emphasized that the two violators caught in the past had each been heavily fined.  If you believe that there is unapproved sublet going on, please alert the Management office so that they may investigate and address the issue.

Mark Weil reported on his investigations of various recycling options for the building.  205 will soon have an electronics recycling bin, however both the compost and clothing recycling proposals were deemed impractical.  Shareholders at the meeting noted that PS 199 has a clothing recycling bin, as does 165 and 185.

Jeffrey Allister reported on ongoing work by the Gym Committee to refresh the equipment, with a status update from Mark Weil.