The North Shore Towers Board of Directs held an opening meeting on Thursday, September 17, at which time they gave the community an update on their work.
“I’ve been very impressed with the quality of the work being accomplished in just these first few months,” Board President Bob Ricken said.
Screening Committee Chair Phyllis Goldstein reported on sales and sublet figures through September. From January to September of 2009, 43 resales were approved. During the same time frame in 2008, there were 35 resales.
The average share price so far for this year is $124.06, compared to $150.70 in 2008.
“However, when you get one or two very low figures, they kind of skew the average,” Goldstein said. “I really feel, as compared to several months prior, that the numbers are certainly creeping up.”
The average sale price for the beginning months of this year is $402,524. Last year, it was $425,625.
Goldstein noted that, during the first nine months of the year, three sublets and three sponsored golf members bought apartments.
Although last year there were nine sublets at this time, this year there are 38. Between the sublets and sales, Goldstein said that 81 apartments have been taken off the market.
So far this year the cooperative has received $192,680 in transfer fees and $50,479 in sublet fees.
In beginning his presentation, Finance Committee Chair Mort Gitter said that the Towers’ finances are in great shape and continue to improve.
“The corporate budget for the co-op has exceeded expectations this year to date by a substantial margin,” he said. “That means that our receipts have exceeded our expenditures in excess of what they thought it would be.”
Gitter said there were slight declines in transfer fees, electric income and investment income. However, due to controlling variable expenses, Gitter said that expenses have been “substantially curtailed.”
In regards to the Country Club, Gitter said that it is also doing well and “had good fortunate in 2009.” He explained that having mandatory Country Club membership and the sponsored membership have helped with revenue.
Gitter said that there is at least $12 million in the capital improvement funds.
A budget for 2010 is in the process of being made.
“We are desperately trying to minimize any increase in maintenance,” Gitter said. “We are trying to cut costs wherever we can.”
Capital Improvements Committee Chair Herb Cooper said that the smoke detector system was completed and is operational. In addition, the ramp two project is underway.
Drawings have been completed for the west gate paving and rear roadway project, and four bids were received. Cooper said that the bid that was accepted was $54,000 lower than the next lowest bid. This project is expected to start shortly.
Cooper said that the Towers continues to look for ways to increase energy efficiency in the buildings. For instance, they are now looking for ways to reduce the amount of power required for lighting the garages.
Marty Mitchell, the newest Board member who is now chairing the Country Club Committee, said that it has been very successful because of the sponsored membership.
“That’s put the budget way ahead and has allowed us to not lose the type of money we were predicted to lose,” Mitchell said. “That was a wonderful idea and the Board has renewed that commitment.”
There are 1,256 general/mandatory members, three children members, 44 tennis members, 319 golf members and 159 house members. The overall total is 1,781 members.
Mitchell also explained that his committee has been divided into subcommittees. They are long-range planning, welcoming, publicity/communications, events and one to come up with VIP Room ideas.
For anyone else interested in contributing ideas or expressing needs, Mitchell encourages they fill out a form in the Country Club.
Political Action Committee Murray Lewinter encouraged residents to vote on-site so that the cooperative will be able to continuing having voting booths during elections.
Lewinter said that Mayor Michael Bloomberg, who visited the Towers in August, is already talking about coming back. There will also be people coming to speak who can answer questions brought up during that visit.
Lewinter said that he has reached out to Congressmen Gary Ackerman and Anthony Weiner, although they are unable to come to the Towers at this time because of being in session. However, Lewinter said they will come once they have voted on a bill, and added they anyone wishing to air a complaint or concern can call or e-mail them.
Marvin Rosenberg gave updates on the two committees he chairs – the Legal Committee and the Publicity and Marketing Committee. He said that, for the security contract, four bids were solicited, one of which was immediately dismissed because it was too expensive. Of the remaining three, one was from the current security company, Summit.
Rosenberg said that the decision was made to stay with Summit Security. A representative of Summit assured the Board that, for a four-year contract, the cost would be frozen for the first and fourth years. In addition, Summit has agreed to the request to reduce one supervisory agent, which Rosenberg said will save about $160,000 over the next four years.
“Bob, [General Manager] Glen and I feel that this will provide us with maximum security at a rate that cannot be matched by the other companies,” Rosenberg said.
In regards to Publicity and Marketing, Rosenberg said that the Towers has “been able to penetrate the gold coast of Nassau Country.” He also noted that the North Shore Towers Courier is being distributed to the Americana Shopping Center and to restaurants on Northern Boulevard and Glen Cove Road.
Rosenberg said they expect to launch a drive into the southern part of Nassau County by possibly using Anton Publications. He also said, along with the name recognition of North Shore Towers being improved, it has been optimized for online searches.
Housing and Grounds Committee Chair Claire Levitan said that some of the work that has been done includes upholstering the seats in the movie theatre waiting room and putting in benches made in-house, as well as new leather seating in the arcade. She said they are also planning on changing the carpets in the adjoining card room.
The committee, which Levitan said has been partnering with the Capital Improvements Committee, is now investigating possible walkway surfaces near the Beaumont garage entrance. She also said that the walls around the circular gardens and trees need to be replaced and the seating needs a new design.
Levitan said that her committee has recommended to the Capital Improvements Committee that the inner revolving and lobby doors be replaced, and that there be a sliding pocket door.
Also, Levitan said that resident and artist Sam Dijan will assist the committee in designing “good neighbor alerts.”
Before opening the floor up to questions from residents, Ricken addressed concerns residents had over a healthcare oped that appeared in last month’s issue of the North Shore Towers Courier. He said he met privately with publisher Victoria Schneps, who said the opposing side would be published in the following issue. He also said that she agreed that, in the future, the procedure would be to run both sides of an issue in the same edition.
“We thank you all for your letters and comments and concerns,” Ricken said. “I think the Courier’s editors have responded to our resident’s input."
