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NYC Tax Abatement Set to Expire - DavidG Jun 23, 2012

Im sure this will impact each co-op differently, but wanted to share and solicit feedback.

The State Legislature ended its session on Thursday, June 21, 2012 without passing any legislation relating to the property tax abatement program for home owners in New York City cooperatives and condominiums.
Bottom Line - abatement credits on your RE Tax bill will be expired, and most likely your bill will increase.

At this moment, no one is quite sure what will happen next.
Will an additional legislative session be called to complete negotiations on this and other bills? Will the Department of Finance be forced to adjust our October or January bills to recapture unauthorized abatements? No one knows.

What are your thoughts?

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I'm very surprised Habitat Magazine has not (as far as I can tell) published anything about the recent expiration of the abatement. For up-to-date info from a Co-op board perspective, monitor the Council of NY Cooperatives and Condominiums (CNYC) homepage at http://www.cnyc.com. They have some recent news you will find interesting.

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annual financial report not received by annual meeting - yonkers Jun 22, 2012

we had out annual meeting a couple of nights ago , and the week before i asked everyone that i saw, the shareholders , if they received the annul financial report , and the answer was no, except for some who didn't know what it was, thinking they received it,but they received the notice of annual meeting. Yhis is not the first time this has happened, i still have the envelope and postmark the time i received it two days after the meeting. That was the year after the $ 27k zero drop error. on the budget, and not in our favor. I had posted around the building this factoid, incase people werent aware. i forget the exact wording on the proprietary lease, but i did lokk back and saw that if the accountant sifned off on feb7 ,we received it by march7. The proprietary rules say something like a reasonable time after the audit is completed. 30 days was probably the upward limit om getting the annual audit of financials to us. i will try and get through to the accountant/audit firm tomorrow to check when it was done, as this will be added onto the list for the DA.
I had also posted an article from the ny times ,co-op ans and questions, where i had wriiten in since the buyers were being told it was 90% owner occupied, and i could only see about 50%, and from day one, at conversion, i do not think it was 90%.
The Pres disputed that and it got heated, he had a lost where he had out hi-lighted the non owner occupied apartments, and after looking at it for a couple of minutes started rattling off many apartments where the shareholder did not reside , and never resided in. In fact there is one apartment that was sold at conversion on a non-eviction plan, that has remained unoccupied since 1983 or 85. IMO, it had a lot to do with making the magic number for the non eviction conversion. The owner has never come back or stepped foot in the building since. The president argued with me and said this was owner occupied, plus another , where the people live in florida and come back a coule times ayear , maybe 2 times i see them, That is another i argued about since it was owned and not illegally sublet,but was not occupied, I figure there is at least 50 years of sublet fee's that the co-op should have collected since the owners never lived in the apartment, their adult children did, and our proprietary lease par 14 says "AND" which we also argued about , now the president is even saying it says "OR" even though i have given copies and the case-law to him at an annual meeting 4 years ago, someday i will find a lawyer.with my pocketbook in mind, not his,till then pro se and DA for the criminal.. I also had a good question for the podcast ,but fogot it. maybe tomorrow i will remember

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Nothing the co-op can do after all these years. Focus on larger problems.

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i have been telling people for about 4 years that the value is going to be way down in a down market with all these non owner occupied apartments, olus i have tried to explain to them that the whole crew from the managing company to the board members ,are the ones causing the problem. Theere was one new guy that got on, i had high hope for him, thought he had a spine,but he woouldnt even perform his due diligence and look at the wording of par 14, took the MA word, after i had pointed out and argued with the MA about what it said and had posted a copy of the proprietary lease on line, plus all the rules that the pres and some other board members were self dealing with their family members.
As far as bigger problems there are no bigger problems, since all the problems stem from having such a loew owner occupancy ratio, I guarantee that if you sell and dont disclose, or lie, lie the board or whoever signs off with the bank, because they want to know, and the price differece between 90% and 50% is substantial, at the least the buyers if they have any spine will have you in court for fraud and not disclosing a condition that affects the value of the real estate, same as not disclosing mold, murder in the home, etc.
It is also criminal and mortgage fraud. Which i am pursuing. Along with all the self dealing.
I will do my best to get the 50 years in back sublease fee's, All their storied fall apart when some of the original buyers have the paperwork from when they were on the board that disproves many of the lie's/fraud that they put out. Just in case they tried to change the paperwork. Those treasury reports sure come in handy. I informed the new board members that their board and officers insurance does not cover fraud, fiduciary irresponsible acts, self dealing, no due diligence, everthing they have done since being on the board, even told them that they will not be free from being sued when they move Plus i told one how to protect himself when he was worried about a disability lawsuit due to a insane self dealing act . However he didnt do what i told hi to do , as far as showing he voted against this self deal,the reason why, self dealing, and to record the meeting and get a copy of the minutes,withing the minimum time, and make sure what he said and voted no on was in there. Otherwise he would be screwed if it came to a suit. There are so few owners occupiers left, however my copy of my letter that was in the ny times posted every place they posted their proprietary lease violating proxy procedure was, something that has been peeing me off for the last 5 years when they started the improper wording. Stating that the shareholders should give their proxy to a board member, and this year stating that they are to be given to the super. prop lease states give them to any shareholder that is going to the meeting , or mail it in. That is how they manipulate everything,but i have pictures of all incorrect ones and most likely the letter itself.

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see above

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Your managing agent needs to go, the board needs to go and the building sounds like you having an aging populations who all they do is kvetch but don't do anything to help out all year. Time door knock all your pathetic neighors/shareholders and tell them the value of their units is going down down down due to their lack of participations.

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workmans comp big savings - Merida Jun 21, 2012

Does anyone know if this is currently true? Thanks

"... all building owners and managers with employees are required under New York State law to carry workers compensation coverage, which covers on-the-job injuries and occupational illnesses. Many boards may not be aware that participating in programs such as work safety groups—independent groups put together by insurance companies in pooled coverage—could result in a 30 percent or higher dividend and lower premiums on their workers compensation coverage. The savings is based on claims experience of the individual properties of safety group members. According to Kaminoff, at the end of the year, a board could receive a check worth 30 percent of what they paid into workers' compensation for them to deposit right back into their reserve account.

As an example, Carlson cites the FNYHC's program specifically for building owners and managers. By purchasing through the Federation's Safety Group, members were able to save approximately 60 percent on their workers compensation insurance premiums. Their coverage is through the Durnan Workers' Compensation Safety Group, which handles more than 5,000 New York properties.

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IS IT TRUE?

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Con Edison Incentive Program - Eric Michaels Jun 20, 2012

Con Edison Firm Gas Customers are eligible for a 70% incentive (up to 20k) for the installation of a Building Energy Management System. Multifamily buildings w/ 5-75 units are eligible. 90% of buildings with 5-24 units will pay less than $3,000 for internet based wireless BEMS. Check with Con Edison and/or the Association for Energy Affordability to verify these claims.

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AC installation - NYC Resident Jun 17, 2012

The coop I live in where 3 years ago the board wrote a ltr about ac installations and posted on the bulletin board & sent in the mail to shareholders. To date, we still have residents with ac's installed with bricks, styrofoam, the yellow pages and after pointing this out to the managing agent they are still not properly installed. Who's at fault? the board, the management company, the super. It seems like such a liability not to have ac's installed correctly.

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As I was reading your message, I noticed that Habitat had an article on this very topic. I captured the URL here: http://www.habitatmag.com/PDFs/Window-Air-Conditioner-Installation-Tips

I am not a lawyer, but I think the ultimate responsibility belongs to your board because managing agents, supers, etc are all agents or employees of the board. There are fines if the DOB does an inspection and finds improperly installed window A/C units, and there is a lot worse if a unit falls out.

We had the same situation in our building. What we did was contract with an A/C installation company to install brackets under every unit that needed them. We then sent around an email to all shareholders informing them of the requirement and their responsibility for proper window A/C support. If they needed brackets they simply had to reply to the email with the number of window units. A few days were set aside for the super to escort the company to every apartment that needed brackets and to supervise the work. The cost was $165 per A/C for the bracket and labor. We charged this back to the shareholders on their maintenance bill. We are fortunate in that our shareholders are very cooperative in situations such as this. They understood the need for the brackets and accepted the charges.

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Switch to Cleaner Fuels gets 100m Lift from NYC - Eric Michaels Jun 15, 2012

The city announced Wednesday that more than $100 million in financing will be available to property owners to help them convert from using heavy heating oils to cleaner fuels.

This is of particular interest due to the often insanely high construction costs associated with having Con Edison or National Grid upgrade your gas service. If either utility company offers to upgrade your service at no cost dont blink...sign up now and take advantage of the offer. Go to firm gas for whatever duration they require, yet do it.

However, a straight #6 to #2 conversion as long as the burner is able to handle the transition from #6 to #2 and your boiler is not a relic...the conversion cost is not very expensive relative to a conversion to firm gas. In fact, a majority of 6 to 2 conversions don't require financing.

It is recommended that you do convert to #2 and not #4. You know what you are getting with #2 and there will be consistency with every delivery. The contents of #4 are not always consistent...not a huge deal, yet something that could impact an older burner.

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Is it ethical for the board to ask for donations to give the board room a facelift? - Anne-Marie Ditta Jun 12, 2012

I am a member of my coop board. Recently the president, secretary, and treasurer decided to repaint, carpet, and decorate the board room? The secretary works for decorating store got the paint donated or at a discount. The treasurer added a chair rail and pictures, carpeting, conference table and chairs were purchased. The total cost was slightly more than $1000?

I was surprised when I received an email from the treasurer requesting a financial contribution to offset the cost. The new board room allows shareholders to rent the board room at an hourly rate.

The problem I have with contributing towards the upgrade is that shareholders are not being asked to contribute. In my opinion this is unethical. My thinking is there should be either a one-time fee to pay for the materials or the funds should come from the coop's financials.

The board is concerned they will be criticized for spending money frivolously. I don't agree - this is an investment that adds value to our property.

I am interested in getting feedback as to what is actually appropriate.

Anne-Marie Ditta
Mount Vernon, NY

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Board members already contribute their time. Here, they're also contributing supplies & their own labor so as not to impose on shareholders. We usually hear the OPPOSITE complaint [shareholders pay but Board members are exempt].

Board members may be erring on the cautious side because they'll get the most direct & frequent benefit from the improvements. How refreshing.

You're entitled to disagree--most votes don't need to be unanimous. However, you were asked to contribute...not forced. You may decline & still enjoy using the redecorated meeting room.

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A board can certainly donate time, material, and even cash to the Co-op. There is nothing ethical or unethical about it. The concern I have is that from Anne-Marie's description, it sounds like some of the board members took it upon themselves to lay out the money to purchase the renovation supplied, and then requested donation after-the-fact. I find this particular approach very unfair to the rest of the board. If some of the board members felt their meeting room should be renovated, they should have brought it up with the rest of the board *before* starting. That way, every board member would have a say about the budget, style and decor, time frame, etc. The way it was described by Anne-Marie makes it sound as if some members of the board purposely choose to exclude other members from the decision-making process while asking them to help foot the bill. I would be as upset as Anne-Marie if that happened to me.

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petition of reconsideration - geraldine ruth Jun 12, 2012

recently our board increased our parking garage fee. This led to strong opposition and quite vocal complaints from people affected by this decision during our annual co op meeting.
A petition from the majority of garage occupants and some other occupants requesting reconsideration of this decision was subsequently presented to each board member. The minutes of the next board meeting state the petition was submitted. That's all.
In a newsletter following this thre was note to the effect that a petition was received but "no action was taken by the board."
Is this legal? Should it have been handled this way? Please let us know. Thank you

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Yes, setting fees for amenities is certainly within the board's authority. They aren't required to abide by a petition signed by shareholders. It would have been nicer if they'd explained the reason for the increase -- something along the lines of, "We felt our garage fee was too low based on comparable figures in the area, and with all our expenses going up, we believed that raising this fee was preferable to a general increase in maintenance." However, no such explanation is required and the shareholders have no recourse other than kicking out the whole board and electing one that will repeal the increased garage fee. But of course that may well annoy a lot of OTHER shareholders ...

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As for the garage increase, it was noted that people who own their own houses are renting out their driveways for more that we pay in our co-op garage. Cooperators stated this was like comparing apples and oranges. Also, the financial report at the general meeting showed our finances were in good orders especially since we had just increased our maintenance the month prior to the garage increase. What would have been more acceptable was if a reconsideration of the previous board's actions would have been taken. The fact is we elected 3 new members to the board at the general meeting and they were not given a chance to reconsider this decision.. The president refusing to allow it to come to the new board has sewn a lot of ill will on t he part of those who thought their views would at least be brought up again.

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Curious, how long has it been since your co-op raised the garage rent? How much are you paying now?

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petition of reconsideration - geraldine ruth Jun 12, 2012

recently our board increased our parking garage fee. This led to strong opposition and quite vocal complaints from people affected by this decision during our annual co op meeting.
A petition from the majority of garage occupants and some other occupants requesting reconsideration of this decision was subsequently presented to each board member. The minutes of the next board meeting state the petition was submitted. That's all.
In a newsletter following this thre was note to the effect that a petition was received but "no action was taken by the board."
Is this legal? Should it have been handled this way? Please let us know. Thank you

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House Rules - JH Co-Op Jun 11, 2012

I'm on the board of a co-op, and our house rules are comically ancient. We asked our management company for a template to work from to update them, and they gave us another set of rules from 25-30 years ago. Is there a good recent template for house rules that we could work from to generate ideas?

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Sounds like you need a new managing agent. You can also seek your Legal Adviser. Our house rules deals with common spaces, noise issues, roller bladding in hallways, smoking in common areas, nothing in hallways like carriages, shopping carts. No kids playing in hallways, illegal occupant and the rules can go on and on depending on your building. Also with each complaint from share holder tag on a fine for each rule being broken. The best way is break it down step by step from front to back yard to the whole building. Did I mention consult with your legal adviser. Good Luck

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i believe anytime you try and word in a punishment such as fines to house rules, your proprietary lease and by laws has to support it.
i believe i have read a number of times of coop owners having years of fees returned and not paying fees and fighting them+winning, since the the proprietary lease didn't call for them.

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I agree with "peoples choice" response. Also you should really look into the quality of life issues you have and how the buildings image would change in a positive way by drafting "new rules". Begin by waking the property and make notes. Then apply a little bit of common sense. There is no point in making a rule if it is impossible to implement/follow.

Bob

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I do not mind giving you our House Rules. Send me your email address and I will email it to you. This can be a starting point.

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Thanks. I do not want to post my email address in public but you can email them to our board address at surfair_equities@yahoo.com. Looking forward to seeing them.

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On its way.

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Write rules to manage situations, not control people. Everything you write, you will need to enforce at some point. There will always be shareholders who break rules because they are just going to do whatever it is that they feel like doing, but everyone else will be governed by a rule written to control the few. try to not write too many. House rules are for the management of enabling people to live together in a balanced, fair and respectful way, and to protect the property for the benefit of all.

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