Seek and ye shall find: the board discovered NRG, a “cool roof” white epoxy coating that promised to extend the life of the roofs another 10 years and cut their summertime energy bills – for a quarter of the cost. The board signed off at a late-September special meeting; a month later, the work was complete. “I’ve had two townhouse committee meetings where I met with shareholders, and there have been no complaints of roof leaks,” says Chapman Jenkins. “We feel confident that we made the right decision.”
Estimated Market Value: $20,299,000
2011/12 Taxable Value: $7,969,302
Located at 18-15 215th Street, The Seville is part of The Towers at Water’s Edge, an enclave of three co-ops overlooking Little Neck Bay in tony, ethnically diverse Bayside. Each contains a 17-story high-rise and a cluster of townhouses. “It’s a very quiet community,” says board secretary Felicia Chapman Jenkins, who has lived there nine years. “It’s really set onto its own, and yet it’s a community where people are basically middle-class or upper-middle-class.”
So despite the co-op’s luxurious trappings, this board knows it must stretch its dollars to the fullest. They expect NRG, made by the protective-coating manufacturer EPOX-Z, to last as long as a brand-new roof, but it’s so new, Chapman Jenkins says, “it has not been used for 10 years by anyone.”
But drawing on her experience from a career at the city Housing Authority, she and the board did careful research before taking the plunge. “We felt very safe in the fact that we thought this was the best avenue to go,” she says.
Began in October 2011 and completed in November.
Co-op and condo board business broken down into bite-sized bits - 2 stories each week. Read now on all digital devices.
A free digital resource for co-op/condo board directors. Published twice a month. Read now on all digital devices.