My next door neighbor, who happens to be Board president and involved in my vetting subtenants sent me the following email today:
"It would be a good time to close the books, in advance on your move, on the loan that I made to you for the new fence five or six years ago. If you could settle this up as soon as possible so that there aren't any outstanding issues before we begin arrangements for new tenants.
As you may recall, the amount outstanding, after .....".
It is true that she paid for the building a new fence between our yards with the arrangement that I would repay her a certain amount each month. I only made a few of those payments. She has never said a thing about it in all the years since.
I am OK with coming up with a payment plan and repaying her. However I object to the implication that the repayment of this personal loan has anything to do with "beginning arrangements for my new tenants". This seems to be conflict of interest in terms using her capacity and clout as Board president to satisfy a personal arrangement that should be dealt with outside of the board structure.
Can you please advise me on how I best handle the issue without being coerced in this way?
Thank you!
This letter comes every December to managing agents. It lists the breakdown of the abatements and expansions amounts per eligible unit. - BUT does anyone know what the dates are for - EX the letter sent in Dec. 2019 - was it for the benefits to be given qualified apartments in the fiscal year 2019/2020? Or for the upcoming fiscal year 2020-2021?
Pls only answer if you know. Thanks./
Hello,
Does anyone have a recommendation for a good management company that can handle a small co-op in Prospect Heights, Brooklyn?
Thanks
Seeking a checklist. Thank you Robert
> Join the conversationHas any Mitchell Lama Coop or Development experienced that Board Election Proxies signatures were not compared to those shareholder's of record even when the BY-laws specifically reads to do so?
> Join the conversation Comments (1)I need a concrete answer if anyone really knows this but our coop is saying the coop/condo tax abatement will NOT be renewed in July 2021 because of lack of support in Albany. Has anyone else heard this or who can we verify it with?
> Join the conversation Comments (3)
Over the xmas break, our heating radiator pipe busted from the basement and started spraying water into the unit. I was not home at the time, and it left alot of water on the floor and steam condensation on the ceiling. The hardwood floor is now damaged and cupping. Who is responsible to pay for the damage? if coop is responsible, how long is a reasonable expectation for it being fixed?
Thanks
Recently we discovered a bad case of mold on the hidden side of drywall. This is the first time we've had to remove mold, and I'm looking for a recommendation for a company that deals with mold remediation and reconstruction. If you've had a good experience with such a company please list their contact info here.
Thanks!
--- Steve
ARTICLE IX AMENDMENTS
These By-Laws may be amended, repealed or altered, in whole or in part, by a vote of a majority of the stockholders of the Corporation attending in person or by proxy any duly called Annual or Special Meeting of the stockholders at which a Quorum is present. A description of any proposed amendment is to be voted upon. The Board of Directors shall not alter or repeal By-Laws adopted by the stockholders of the Corporation.
To further the democratic process and give the stockholders an instrument toward the governing of the Corporation the Board of Directors shall not have the authority to prevent any proposed By Law amendments to go before the stockholders at an Annual or Special Meeting to be voted on by the stockholders. All proposed By-Law amendments by the stockholders will be forward to Housing Preservation and Development for approval or rejection as to be put forth before the stockholders for a vote.
To further ensure the democratic process toward governing the Corporation, all proposed By-Law Amendments submitted by Stockholders will be forwarded to Housing Preservation and Development (hereto referred as ‘HPD’).
The Board of Directors must adhere to Housing Preservation and Development’s Rules and Regulations of Article XIII, Corporate Action, Section 1 By-Laws.
The Board of Directors will not have the authority to alter, prohibit interfere/prevent, by motion and/or otherwise, proposed By-Law Amendments to be submitted to Housing Preservation and Development for their approval / rejection.
HPD will notify Gouverneur Gardens Housing Corporation to put forth the approved proposed By-Law Amendment for a vote by the Stockholders at the Stockholders Annual or Special Meeting at which a Quorum is present. Stockholders who submit any proposed By-Law Amendments rejected by HPD will receive written documentation by HPD explaining the reason for the rejection.
Hi,
We've had our management company for 20 years and service is ok. We are searching for a company that will want to impress us with their responsiveness and up to date knowledge re CMA compliance and technology application to building management. We are pre-war building with 400 apartments in Brooklyn. We have good financials but outdated everything. We're used to having an onsite dedicated manager.
We are very interested in recommendations from Habitat readers. If you strongly to somewhat strongly recommend your management company, please be in touch.
Thank you!
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When I read this, I immediately thought what would happen if I saw this situation on an episode of Judge Judy.
There is no conflict of interest here. She lent you money and you never paid her back. That's the only relevant issue. You owe her money. Perhaps you felt embarrassed or guilty by no longer repaying your debt. I get that, but it doesn't absolve you of your debt.
Even though "She has never said a thing about it in all the years since" - you still owe her the money. She has not forgotten. Would you forget? I don't think so. She probably stopped saying anything because every time she did so in the past you never paid her back. She likely felt as if she was talking to a wall.
You acknowledge that the money was a loan. You made a few payments and stopped for whatever reason. And apparently you stopped a long time ago, like 4 or 5 years ago. Maybe there was a legitimate reason (lost your job, family illness, etc) that you stopped paying. If so, then you should have told the woman what's happening. If you did that, most people will work you because you're being upfront. But, you didn't. So you've defaulted on a loan. That's the bottom line.
You're telling us how YOU feel in this situation. How do you think SHE feels? How would you feel if someone owed you money, promised to repay it, made a few token payments and then stopped paying the debt completely years ago? Wouldn't you be angry and frustrated? I guarantee you that's exactly how she feels, especially now that you've told her that you plan to move.
I'm guessing that she mentioned the part about "in advance of your move" because she figured that if you move, she'll never get the money that you owe her. So she threw that phrase in there as one last gentle reminder that you owe her money.
I'd say your neighbor has been extremely patient for years dealing with a deadbeat. Sorry to use that term, but that's what you are.
Instead of complaining how you're a victim of a conflict of interest, go have an honest talk with your neighbor. She deserves to know why you stopped making payments. If you do, there's a chance she might work with you.
If you don't, she is well within her rights to take you to court and sue you for the balance of the loan. No one wants that, so avoid that scenario by swallowing your pride and having that honest discussion that's years overdue.
As this forum's well-learned Steven424 likes to say, I'm not an attorney so take my advice based on what you paid for it.
Good luck.
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