using the forms passed out from last year’s annual meeting the owner occupancy ratio is between 52% to 67% ,, not the 95% or 90% the new buyers were told

remember i am disabled and typing  is hard with tremors in my fingers from the meds, i can only do what i can do.

I try and get my point across, if you want to email me put hawleyterrace in the subject line, no space and it will be filtered to my inbox  mikepiedell at  gmail.com      remember hawleyterrace 

think i threw in 6  extra owner occupied apartments to make it 37  owner occupied out of 59 apartments, the supers apartment  is not counted .Even with 6 added the % of owner occupied is  63%.   With 31 it is 53% owner occupied both , a far cry from 90%  or 95 %. I do not know who told the buyers this info, but thre last buyer bought from a Bank,  The owner ocupied perectage is huge when it coes to buying a coop.

The non owners, cannot vote, attend meetings, so they are not a cohesive force working for the good of the building.. The Board has let this building turn back into a rental building.  Some board members are buying up apartments to rent out some even were asking about a owner occupied apartment,  statig that it has to be owner for 2 years before one can rent out an apartment that is not supposed to be rented out.
The rules on unsold shares are not being followed, owner of unsold shares is supposed to have 10 years of Maintenance to put in escrow and be bonded, it actually still show  that on the AG site, A  memo concerning this, not anybody can be a buyer of unsold shares, they need to show and escrow money backing the maintenance for years.
There are a couple that are were looking like not owner occupied. Stopping in for a week or r living in florida and coming up twice a year is not owner occupied, They have no idea on what is going on here, and the president of the board does his best for zero transparency.Using an apartment for a art studio and living next door , is not owner occupied.  It is great they have a good studio close by to work, add i am all in favor of art,but one has to live in the apartment as their primary residence.
The  President of the co-op who states many times that  he will self deal  in the last 4years of meetings when i called him on his self dealing, it occurs in all aspects from parking spaces in the garage to the mount of space his family occupied in the storage room.  That was until he had a 40 yard container, well full size demolition container placed for a month on the premises to carry away his and some others unwanted stuff.. This is the third time a container has been paid for to remove left property.  The managing agent is clearly not doing his job, and the money should come out of their pocket, not the coops.
I have pictures that i will post, of the container being filled with bags of leaves and regular and other items we pay the city of Yonkers for removal. i am sure it is less that 1 cents  on the dollar compared to the 40 foot container. Even using the container to self deal by using cooperative monies to cart away his garbage, It has sat there for over 7 years that he and his wife, the shareholders , have moved out.  3 days would have been the max time, 30 days  is more fraud and theft of shareholder funds.  The rest of the board is obliviously not doing their fiduciary duties to the shareholders by letting this occur.  This also happened with the staircase rebuilding.  A 2 week job became about 9 months, a pile of dirt  and the main entrance for many people closed.
This also happened  about 2 weeks after Bernie Madhoff  turned himself in. Next the stock crashed, and our moneys should not even be on money markets now.
I have always  been very suspicious ans worried that our coop funds are being nixed with the president business monies , through a couple of round the bout moves to hide the real loss of the monies.
  The treasurer who has never lived in the building. but The president states he does live with his 40 year cols son in a 1 bedroom. Since the president tells his sheep, i mean board what to do, All correspondence goes through him. Since the treasurer cannot be questioned by the shareholders , since they cannot reach him, and it is a given that the other  sheep/ board members do not do their fiduciary duties to the shareholders and never have from what i have seen.
Taping and video recording the annual meeting is the best thing i have ever done.
Mr president likes to play verbal bully, and loves the annual bully pulpit.
however with the tape i can place his statements and his Lies, because every-word out of his mouth  are statement he knows to be fraudulent and his table of sheep let him, where they could turn around hold a meeting and vote him off the board .  They should because some have licenses they need for employment, plus who would do business with someone that will not take a stand against a egomaniac that micro manges the monies, with zero transparency. That may likely cost them a hurt in their livelihood.  That means the same person would not  stop a job site if he saw a series of incorrect construction.  He would not have the backbone to stand up to the  contractors and foreman, who would brow beat him into submission. worked.   He would do as he does on the board, nothing as the president caries on in a manner that will either garner court time or headlines, both will affect the livelihood of the people that need to be hired based on their  merits and name.
The Board must remember that  legally their total loyalty is to the shareholders of the building. None to the president and the managing company is an employee i would have fired 20 years ago.
Oh i forgot the daughter of the person that beat me was appointed election official that year, and counted the votes, and she just happens to be the wife of the president. so when he ran he won , and normally the board picks the president, but with the election official being a family member , there was a floor vote for president , and of course her husband won.
As always the above is my thoughts and opinion and practice of free speech as allowed under the Bill of Rights  of the USA.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s