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Looking for qualified super for luxury Manhattan building - Management Company Nov 02, 2011

Includes 2 bedroom apartment; has to be union; 10 year experience; for luxury Manhattan co-op. Call Steven at 646-454-2991.

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water temp problems with new backflow valve - pre-war - Matilda Nov 01, 2011

A personal note - The new layout of this chat board makes it much more difficult to read. Anyhow, is anyone else out there in a pre-war who has had weird water tempterature problems after instllaing a new backlow device? Thanks

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We have been having problems since installing the backflow device. Just had the mixing valve repaired and it seems to be better. Anxious to hear from others regarding this problem.

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NYC Energy Efficiency Corporation - Eric Michaels Oct 28, 2011

The NYC Energy Efficiency Corporation has just announced the availability of $37,500,000.00 in very low interest loans for the affordable housing/low income multifamily population of NYC. There are 8,900 boilers in this category that are burning #6 oil that in the absence of this program might not be able to afford the switch to #2 or to replace the entire heating plant. This is now a very real possibility and it is in everyones best interest that this be looked at as the catalyst for conversion. Please contact me or check online to review this program. There is no way that this money will be available for very long as the largest management/ownership groups in the city are already processing projects.

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Board Education - RF Oct 25, 2011

Hi,
In November will be the CNYC conference and educational workshops. Great opportunity for board members to educate themselves.
http://cnyc.coop/housing-workshops.php
I wonder if other co-ops reimburses the cost of the conference. My doesn’t do that. In order to be a better board member I need to pay from my pocket to attend the conference.
What is your policy about that practice?

RF

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Absolutely your co-op should reimburse you. It's like professional training - what lawyers and accountants must do each year.

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Being a board member in a big co-op I would like to further educate myself however, my board said not to reimbursement of this conference, because it is $225 per person. And they rather to spend that money for something else than education.
I don’t know what options I have. I have already donated my time and knowledge to the board, I cannot donate money. Maybe CNYC can sponsor me?

RF

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If your co-op was a member of this group, it would be free for you. You could give CNYC a call. Who knows, maybe they would make an exception for you?

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Co-Op Financials - Jeanne K Oct 23, 2011

I am new to my Co-Op and want to learn more about the current financials that were submitted to shareholders for our annual review meeting. A trained eye I am sure can read right through them, but how does a layman find reasonable blueprint for reviewing these financials to ensure things are on the up and up??

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The independent accountant should be invited to the annual meeting to review the presentation of the audited financial. Since shareholders get financial and they just put them away, let them know through reminders to bring the audited report to the meeting so that they can follow the discussion in addition to bringing they questions to the meeting.

The responsibility of the Board is to provide the financial, not to explain it line-by-line to a layman. For this, shareholders should come to the meeting or pay his accountant or lawyer to review and explain it to them if interested.

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Management company recs - Michele Oct 21, 2011

Hi...hoping I can ask this here...would love some recommendations for management companies in Brooklyn...thanks.

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Hi, we have a large Brooklyn base for our firm, Excel Bradshaw Management (www.ebmg.com).

Would be happy to chat.

Mark

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Treasurer - Jim H. Oct 14, 2011

I was wondering if somebody can give a detailed description what are responsibilities of a treasurer in a co-op?

• Does a treasurer should supervise all co-op’s bank accounts, or only selected accounts?

• Does a treasurer should give a board detailed accounts’ reports or only accounts’ balances?

• Does a board should be informed about large transfers of money from one account to another?

• What information should be included in financial report presented to a board at monthly meetings?

• Does every board member should be familiar with co-op finances?

What are standards in your co-op?

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Jim:

The treasurer should be receiving all bank statements each month in the monthly management report. You should ask your agent to give you a cover sheet of all your bank accounts with last month's balances and this month's balances so you can see any variation in balances. The treasurer should approve any transfers from the Reserve accounts. All of our board members receive a comprehensive monthly report including bank statements to the flow of monies from all accounts can be viewed.

Steve Birbach
Chairman- Carlton Management
212-575-0200/516-609-8200 x 15

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Jim:

The treasurer should be receiving all bank statements each month in the monthly management report. You should ask your agent to give you a cover sheet of all your bank accounts with last month's balances and this month's balances so you can see any variation in balances. The treasurer should approve any transfers from the Reserve accounts. All of our board members receive a comprehensive monthly report including bank statements to the flow of monies from all accounts can be viewed.

Steve Birbach
Chairman- Carlton Management

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In my building I am the only one who deals with money issues. But I follow it very closely, and work with our management company. What do you mean when you ask if you are informed when money is transferred from one account to another? I would think you should know, and even approve, this.

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You should also check your By-Laws to see the duties of your Treasurer.

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Thank you for the responses. I checked my co-op By-Laws and there is written that the treasurer is responsible for all funds and accounts. In reality, in my co-op, the treasurer is responsible only for two Community Funds accounts and he approves bills. For other accounts, and we have them plenty, is responsible the management company.
The board is not informed about transfers. The perfect example is when more than $1 mln was transfer from one account to another and nobody knew about this. Nobody even asked about this except me.

The conversation about finance is not welcome in my co-op. We have many restriction regarding reviewing financial information including signing a confidentiality agreement for board members in order to examine monthly financial report.

That’s way I am asking how it is done in other co-ops. What information should a treasurer shares with a board?

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Gas Conversion Project - Eric Michaels Oct 13, 2011

National Grid has agreed to upgrade a 125 unit multifamily building in Queens from #6 oil to natural gas at NO charge. This building will remain on a TC rate as Firm gas is not available. The point of this posting: National Grid is willing to work with every single multifamily building management/ownership group and if they can they will bring gas to your building. Contact me, contact your service company, contact Grid....just contact someone to at least inquire as how best to begin the process.

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My advise to you is to contact a reputable gas boiler installer and start the process. They work with the gas companies and can often obtain additional rebates for you. They have direct relationships with National Grid and Con Edison and know how to move the projects along. Contact me if you want any recomendations.

Steve Birbach
Carlton Management 718-479-9393 x15

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Going Green - Eric Michaels Oct 10, 2011

What is going Green? Is it replacing a boiler for $250,000 or replacing the tubes for $45,000 and adding 8-11 more years to the systems lifecycle? How else can the "saved" $200,000 be invested to achieve a greener, healthier, more efficient system...overall? What about investing 200K in an EMS system that will further reduce energy consumption by 12-15% AND also be eligible for a Con Edison rebate of 50%...100K? Now you still have 100K to invest....what about controls and lighting upgrades to all laundry rooms and common areas? Another investment that comes with rebates.
There are many ways to invest in "green" that will absolutely spread the impact of the initial investment...all it takes is patience, a board willing to listen and a progressive and intelligent property management team.

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Intro to Green workshop for Co-ops and Condos - Jeff Irvine Oct 10, 2011

How can smart coops and condos turn pressure to "go green" into an opportunity to reduce costs and comply with new codes?

This two-hour workshop, sponsored by the Council of New York Cooperatives and Condominiums (CNYC) and Solar One, will present cost-effective ways to reduce energy expenses and have a healthier, greener building; details on the NYSERDA Multifamily Performance Program for energy efficiency retrofits and financing; an overview of new green laws and code changes; and strategies for engaging owners in the greening process. Pre-registration is required due to limited space.

This workshop is free for residents of CNYC member buildings. Pre-registration is required due to limited space. If your building is a CNYC member, please register by contacting CNYC at (212) 496-7400 or info@cnyc.coop.

There is a $30 fee for non-CNYC members. Please sign up by visiting:
https://co.clickandpledge.com/advanced/default.aspx?wid=40722.

Intro to Green for Co-ops & Condos
7pm-9pm on Thursday, October 13, 2011
New York Society for Ethical Culture
2 W. 64th Street, New York, NY 10023

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The first step is to explore those variables in a building that you do have immediate control over: operating efficiency of heating plant and domestic hot water system, common area and exterior lighting and choice of heating fuels. Heating fuel: #6, #4 or #2? Availability of adequate gas to effect a conversion? Duel fuel or single fuel burner? Have you capitalized on the rebate/incentive programs for the updating of both interior and exterior lighting? If your building has a large number of thru-wall ac units is the perimeter insulated? Going Green isnt always about adding new technologies, its also about ensuring existing technologies are operating at their optimal level.

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Learn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments

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