Dear Friends and Neighbors,
The Board of Directors held its most recent monthly meeting on March 19, 2009. The Board approved the minutes of the February 19 meeting and then addressed the lengthy agenda. There was a discussion about the recent litigation with Continental Communications Incorporated and the negotiating team received praise from the remainder of the Board. We gained our primary objective of assuring the safety of the residents of North Shore Towers.
We have written a letter to the Great Neck Superintendent and board and requested that residents of the Towers be allowed to attend their school district as paying students. The law does not allow them to attend free of charge, as citizens of Great Neck can do. We are waiting the Great Neck board’s decision since several of our residents would enjoy that option for their children and it would be a benefit for our real estate sales.
The Board reviewed about 25 letters in regard to our pet policy. Both sides presented strong opinions about why pets should be allowed or why the present policy should be continued. By a vote of 7-2, the Board agreed to continue its existing policy and have all new residents sign a no pet provision.
The Board agreed to continue the trial policy of allowing friends and relatives of Country Club members to attend the pool, free of charge, one day a week. The practice will be expanded from one month to both July and August.
The treasury report was given by Rob Serikstad and he reported that, contrary to the world’s financial headlines, North Shore Towers had positive financial results in 2008. The power and natural gas expense was $96,984 under budget this year to date. The January/February 2009 cost for power of $818,101 was $251,611 less than the January/February 2008 cost, which ran $1,069,712. Total expenditures for the year to date were $217,899 under budget. Overall, apartment corporation operations ran $142,596 better than budget with a $252,927 operating surplus. The full financial report for 2008 will be mailed to all shareholders in April.
Phyllis Goldstein reported for her Screening Committee, and we had one downsize, two re-sales and four sublets approved. The Board also resolved that all sublets must be for a minimum of one year to a maximum of three years. It should be noted that our rent stabilized tenants have the legal right to rent for a minimum of six months.
Herb Cooper reported on the final architect’s report on the West Gate repaving project and that, hopefully, work will begin in a few months. Glen Kotowski requested the hiring of a consultant to review a major study performed several years ago on whether we should continue generating our own electricity or be serviced by Consolidated Edison. The decision will have a major impact on expenditures for new generators and the smoke stack that we’ve been building our reserves to fund.
The Country Club’s budget was positive. With the possibility of 50 new sponsored golf members, the course will open at 7 a.m. to make certain no golfer will be inconvenienced with regard to tee times. The gym will be upgraded at minimal cost and may have to be closed for a week when it is painted and new amenities are added.
Marvin Rosenberg had us distribute copies of The Queens Courier that covered an excellent display of North Shore Towers, including pictures, interviews of residents and highlights of our unique facilities and amenities. It also had information on how to go to our web site to increase our sales potential.
Claire Levitan mentioned that her committee, Mr. Cooper’s committee and General Manager Glen Kotowski were meeting on Friday, March 20 to discuss the resolution of garage leaks. After this is done, plans will be developed to improve the center area adjacent to the visitor parking lot. She also noted that the Board will discuss the upgrading of the lobby entrance areas of all three buildings.
Murray Lewinter reported that we will have a political speaker on April 30, name and topic to be determined.
Please mark the following important dates on your calendar:
-Thursday, April 16 – “Open Board Meeting”
-Thursday, April 23 – Board Election Nomination Packages Mailed
-Wednesday, May 27 – “Meet the Candidates Night”
-Wednesday, June 17 – “Annual Shareholder’s Meeting”
Sincerely,
Robert Ricken, President
NST Board of Directors
