The board is in the process of
finalizing an agreement with Verizon to install fiber
optic cable in the building, free of charge. A clear majority of residents who responded to the survey on
the subject supported accepting the Verizon offer.
The cable will be used for Verizon telephone and
internet service, and, if a Verizon application for a
citywide franchise clears all government hurdles, high definition (HD)
television service. No date has been set for the work which Verizon
says should not disturb building residents.
Annual Meeting 2008
Some 75 shareholders, supported by
an additional 150 proxies, attended the May 12th annual meeting in the Salvation
Army's Mumford Hall. Since there were 9 candidates
for 9 positions on the board of directors, the board
members were elected by acclamation. Officers and members are listed on the
reverse side of the newsletter.
Mary Kate Bertone
of the accounting firm Zucker and Shernicoff
presented an overview of the 2007 financial statement showing that the building
ended the year with a surplus of $383,898 in income versus operating expenses
and a reserve fund balance of $2,841,175.
Counsel Stuart Saft
talked about changes in the so called 80120 law which removed the 20% limit on
the amount of income co-ops could get from other sources than shareholders. As Chairman of the Council of New York Cooperatives
and Condominiums, Mr. Saft, along with our accountant
Marc Shernicoff, has been instrumental for years in
bringing about this change.
Although co-ops should now be able
to increase the rent charged commercial tenants, he cautioned that some of the
tax implications for co-ops will need to be clarified. The amount of income the
building will gain will also depend on the unpredictable market for commercial
leases. A positive implication
of the change might be an opportunity for the co-op to begin to amortize its
mortgage. The old law discouraged co-ops from taking mortgages other than
interest-only.
Flip Tax
Amendment
Mr. Saft,
who led last year's discussion of the proposed transfer fee amendment, spoke in
favor of this amendment again. It would change
the current $ per share fee, which the board can modify, to a fixed 2% of the
gross sale price of an apartment. He advised that the 2% fee is typical for
most Manhattan
co-ops. Orsid Management President Neil Davidowitz
said this is the fee for many Orsid managed buildings as well.
Both professionals advised the co-op
to create as many income sources as possible to meet the inevitable future
infrastructure needs as well as the possible amortization of the building's
mortgage.
Others pointed out that the new
revised fee would help lower future maintenance increases and that our low maintenance
and assessments, as well as our healthy reserve fund, have helped keep our
purchase prices high compared to other neighborhood buildings.
Forms to vote on the transfer fee
amendment are available at the front desk. Voting can continue until October
2008.
SPRING CLEANING
The sofas and chairs in the lobby
have been cleaned. We hope all residents will help keep them clean, especially
by keeping children and pets from climbing on the furniture. Carpet repairs and
cleaning are scheduled for June.
ROOF ETIQUETTE
This is the season for enjoying our
roof, a good spot to watch the July 4th fireworks. Please obey the rules posted
in the mailroom and on the doors to the roof: For the 4th, only two guests per
apartment.
PLEASE do not throw cigarette butts
over the parapet ... they land on other people's
terraces. Use the sand buckets provided. ALSO: Close the umbrella when you
leave a table.
THE VERMEER ON-LINE BULLETIN BOARD IS UP AND RUNNING!
Check out www.thevermeer.com to
get access to house rules and other important co-op documents, as well as
various building operations forms, available to print. The Vermeer Bulletin
Board is again available. Shareholders may post items for sale, items wanted, announcements
and events, and post and check contractor recommendations and favorite
restaurants.
GREENING THE VERMEER
(And SAVING ENERGY COSTS)
When you go out (unless you have
pets) please turn off your air conditioner, or if your machine has a timer, please
use it. Also, remember to change the filters
on your air conditioner frequently and have the machines cleaned every year. A
list of contractors is available at the front desk.
Shareholder Thea
Feldman and Board Member Fran Nesi are creating a
Green Subcommittee of the Building Operations Committee to educate shareholders
about energy conservation, to supplement the formal energy audit underway by
the CommunityEnvironmentalCenter.
Look for notices about a meeting later this summer.
PETS AND OPEN WINDOWS
Reminder - Please keep the windows closed when you leave your
pet alone in the apartment. An open window can lead to a tragic accident.
NEW RENOVATION POLICY
To avoid inconvenience to neighbors,
only one plumbing shutdown will be permitted per renovation. Check with Orsid
or the Superintendent for details.
Board and Officers
President Jean Lerman
Vice President Alan Vengersky
Treasurer Mitchell Appel
SecretaryMargot AlgaseSklar
Board Members Nina LetoMayleas, KailahMatyas, Michael Moro, Fran Nesi,
Edie Smith
Committees
Building Operations & Repairs - Fran Nesi
Web Site -Fran Nesi, KailahMatyas, Edie Smith, Nina LetoMayleas
Green VemeerFran Nesi,
Thea Feldman
Housing Applications &Interviews – Alan Vengersky& KailahMatyas
Roof/Landscape/Design Projects - Michael Moro
Newslefter- Edie
Smith
Companion Animal Committee - Fran Nesi& KailahMatyas
Community Relations - Nina LetoMayleas, Fran Nesi, Edie Smith
Senior Issues - Nina LetoMayleas
Commercial Operations - Jean Lerman, Alan Vengersky, Mitchell Appel, KailahMatyas
Events- Michael Moro, Alan Vengersky
Anyone interested in volunteering
for a committee should leave a note for the appropriate chair
