Would anyone know how I could attain a copy or preview on the internet our Certificate of Incorporation for our coop building in New York?
What are the top priority issues that a board should focus on in order to maintain, dare I say increase, values of the apartments in their building, and the building itself?
Our board of directors has just issued a notice to all shareholders threatening to increase our monthly maintenance bill by $100 a month unless and until we agree to let the pest control people spray pesticide in our apartments. We have no rodent or pest problems in our apartment and have never signed up to have it sprayed. The program has until now been voluntary but now they are insisting on building wide compliance with their request. I am allergic to any chemicals including perfumes let alone toxic pesticides. Can they enforce this on us on a mandatory basis? If so, what are our legal rights?
Since my board president has been fighting transparency and since I've caught too many manipulations, such as the annual financial report arriving 2 days after the annual meeting, whereas for the last 25 years it arrived week before the annual meeting, A couple times the directors ballot was stapled to the annual financial report.
i guess this past year they didn't want to hear any questions on the co-ops finances.
So it look like i will have to go looking for the information.
From my laypersons perspective the following excerpt from our proprietary lease gives me the ability ot my representative the ability to go over all the financial records.
i plan on bringing a camera and gorrilipod
Any thing i would not be entitled too.
i know it will be a fight, and i like to know what i am entitled too before i walk in the door, of course i will preface it with a fax and a weeks notice.
i have noticed the miscellaneous expenses keeps growing, so a line accounting of that. and since there has been a lot of self dealing with the board controlled parking garage an accountment of that for the last too. i figure i will take eveething back at least 10 years, or longer. i want the line items before and after the imo shady board president took over .
i want to know all the mortgage cost and all payouts, since i saw a line where it seemed they gave the managing agent /company monies for something.
3 years ago we had ab almost 10 percent budget error , due to a dropped zero, that none of the board picked up on. which IMO means not one is watching.
The lessor shall keep full and correct books of account at its principle office or at such other place as the directors may from time to time determine, and the same shall be open during all reasonable to inspection by the lessee or a representative of the lessee. The lessor shall deliver to the lessee within a reasonable time after the end of each fiscal year an annual report of the corporate financial affairs , including a balance sheet and a statement of income and expenses, certified by an independent certified public accountant.
Can anyone explain in simple terms what it means for a shareholder with regard to the tax deductibility of their yearly maintenance?
My husband and I live in a condo that has no insulation between floors. The floor is wood with less than eight of and inch cork then concrete then my ceiling, no sheetrock so the sound travels. My upstairs neighbors refuses to carpet their apt. by 80% as stated in the by l-laws. They have a child who hammers and drops toys all day long plus has a baby walker rolling around the house. This not including the noise the adults make, chairs moving etc. The noise sometimes starts at 6:30am. We feel like they are living wit us at this point. When guests come over they comment about the noise. I have tried to speak to him but he is totally belligerent and then he will make a point to stomp at all hours of the night. What can I do. Management says there is nothing they can do.
this co-op became official around 25 years ago.
i was here .
we still have the same building manger, who was the sponsor.
i wanted to get someone else twenty years ago.
now i see how we get the round robin of building agents, the people at one building get fed up ,so they just keep moving them around.
Since there are a lot fewer sponsor owner apartments, now the assessments begin.
The managing agents let stuff go, till it became a big job.
continues toi happen today, holes in driveway that are going to cause an injury.
Just had some plumbing work done under the bathtub , between the floors. The bathtub drain pipe was cast iron, not copper, building built around 1960's
I live in a fairly large condo building. Our new board (2010) has opted to take out a loan for maintenance on our building. They plan to pay only the interest on this loan. There is no telling when and if there will be enough funds to pay back the principle. We have several units already in default for well over a year.
There was no vote by the residents as to if the loan was to be taken out (we have a line of credit that I am afraid our board thinks is cash in the bank for their use)...this was a board decision and the residents were informed only by a couple of words at a meeting (where there were few residents in attendance)
What is your opinion as to their loan payment plans - and the method (or lack of) that they made their determinations.
We just had a resident come down with a devastating disease that has quickly required the use of a power wheelchair. We have a low step but no ramp at the entrance. Does anyone know of a source for a temporary ramp that can be used for a power chair? The ones found by our agent are rather flimsy and/or too long. A permanenet ramp seems to be a big deal.
Thank you.
We had a Board Members vote on whether or not to refinance our building early for much more than our current mortgage in order to pay some debts and future improvements.Our current loan is good for another three years.
At the meeting, it was revealed that two of the five members on the Board will be moving within the year. Is it proper for them to be voting on an issue as important as this one, which will increase our debt twofold when they are selling their shares so soon? Is it a conflict of interest? They do not want to discuss it with Shareholders beforehand. The vote was 4 to 1, I abstained as I do not feel we have enough information and, as treasurer, I have questions about the details of the refi they are going to greenlight. What should I do?
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The Cert of Incorporation is filed with NYS and you have to apply to them to get a copy. You can check on their FAQ web page for more information. Below is just an excerpt from the instructions.
Hope this helps. rs
http://dos.state.ny.us/corps/bcfaq.asp
"Copies of any documents (Certificates of Incorporation, Articles of Organization, Certificates of Amendment, etc.) filed with the Division of Corporations may be obtained by submitting a written request to the New York State Department of State, Division of Corporations, One Commerce Plaza, 99 Washington Avenue, Albany, NY 12231. The fee for a plain copy is $5, and the fee for a certified copy is $10. Copies of documents cannot be ordered through this site or over the telephone. The Department of State does not provide copies of filing receipts."
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