Vol. 60 No. 17
April 26, 2025
$1.25
Read us online: issuu.com/cctimes • Follow us on social media: IG/X/Threads @coopcitytimes • @coopcitytimes.bsky.social
Riverbay’s FY 25/26 & FY 26/27 Comprehensive Operating & Capital Budget Management Report
Marvin Walton
Executive General Manager On behalf of Douglas Elliman Property Management, Managing Agent, we are proud to present the community the Board approved/adopted Fiscal Year 25/26 and Fiscal Year 26/27 Comprehensive Operating and Capital Budget for Riverbay Corporation. This process was truly a concerted effort. Management appreciated the opportunity to partner with Shareholders, Board Directors, and the Building & Townhouse Associations to estimate the Comprehensive Operations and Capital Budget for the Corporation. This budget charts the pathway to sustaining this important affordable house stock for generations to come. Budget Preparation Overview • Kickoff for Budget planning begin in July 2024. • Management instituted “Zero-Based Budgeting” concept for estimating budgets for 25 internal departments. • Finance Department conducted Budget hearing with internal departments. • Management convened six (6) Budget meetings with Board Directors (September 2024 – January 2025). • Management held five (5) Capital prioritization meetings with the building & townhouse associations leadership (September 2024). • Comprehensive Operating & Capital Budget approved/adopted by Board Directors on Wednesday, February 26, 2025. (See page 13.) • Budget submitted to DHCR on Friday, February 28, 2025. Budget Summary In sum, the Comprehensive Operating and Capital Budget (see page 13) is estimated at $315,071,999 for Fiscal Year 25/26 and $324,436,452 Fiscal Year 26/27 and is inclusive of the following two (2) expense categories: • The Operation Budget in the amount of $293,851,800 for Fiscal Year 25/26 and $293,508,700 for Fiscal Year 26/27; funding for the Operating Budget will provide direct and indirect services to the shareholders of the Corporation. • The Capital Budget in the amount of $23,205,199 for Fiscal Year 25/26 and $30,927,579 for Fiscal Year 26/27; funding for the Capital Budget will provide necessary infrastructure (including the Power Plant) repairs throughout the Co-op City community. Riverbay Corporation operations are projected (Continued on page 2)
Fourteen Candidates Certified to Run in 2025 Riverbay Board Election
By ROZAAN BOONE
All 14 shareholders who turned in their qualifying election packages to be candidates in the 2025 Riverbay Board of Directors election were certified by the Election Committee this week. Among the certified candidates are the five incumbent Board directors whose terms are up this year. The 14 official candidates in the 2025 Board election are Ronald Hartridge, Keith Logan, Anika Green-Watson, Darnell Lopez, Tanya Clark-Ingram, Shacara Gibbs, Leah Richardson, Daryl Johnson, Leslie Peterson, Kevin Lambright, Angelo Rosario, Idalia Reyes, Grace Solomon and Sonia Feliciano. “Congratulations on becoming an official candidate in this year’s Board of Directors elections!
Your willingness to serve the Co-op City community is commendable,” said First Vice President Leah Graham, co-chair of the 2025 Election Committee. “For information regarding the Election Committee, forums, and campaigning rules, please remember to attend the Candidates’ Orientation on Monday, April 28, 2025. We look forward to seeing you there.” “It’s an exciting time to be involved with the shaping of our hometown. Let’s come together to celebrate what makes our commUNITY great and support our passionate candidates in this year’s Board of Directors election,” said Board Director Monique Coleman, co-chair of the 2025 Election Committee. “As a shareholder, your vote matters; (Continued on page 5)
E-Scooter Corrals, 2-Year Budget and Resolutions Discussed During April Open Board Meeting BY DANIELLE CRUZ
The Riverbay Board of Directors held an Open Board Meeting at the Einstein Community Center, on Wednesday, April 23. Before the Board voted on several resolutions and Riverbay Management presented a comprehensive breakdown of Riverbay’s two-year budget, shareholders were able to address the Board and Management during the
Gallery Session. After the Gallery Session was concluded, the meeting was then called to order by Board President Rod Saunders, who started the meeting by addressing the concerns that the Board and other shareholders have about the e-Scooter parking corrals that the city placed throughout the community earlier this month. (Continued on page 11)
Shareholders Participate in Spirited Gallery Session at April 23rd Board Meeting By ROZAAN BOONE
The Gallery Session that preceded the Board Business meeting on Wednesday, April 23, held in Rm. 45 at the Einstein Center, was well-attended by shareholders, many who stayed for the entirety of the meeting. The first Gallery speaker, Ms. Barbara Rose, addressed safety and security in the community, especially activity in Dreiser which, although there has been improvements, Ms. Rose maintains there are lingering concerns such as loitering and group congregation. She also talked about the condition of the commercial stores and cleanliness of the area. Specifically addressing a shooting incident that Ms. Rose brought up in her (Continued on page 9)
2024 Income Affidavit’s Due Wed., April 30, 2025 BY DANIELLE CRUZ
Shareholders are reminded that the deadline to file their 2024 Income Affidavit form is Wednesday, April 30, 2025. Shareholders have two options to file their 2024 Income Affidavits, either by filling out the traditional paper form, which was mailed to all cooperators required to file, or by filing an electronic form which is available on the Riverbay website at https://www.coopcity.com/income-affidavit. As of Friday, April 25, 951 shareholders had registered to electronically file their income affidavits and 619 electronic income affidavits have been successfully submitted. A fillable pdf of the 2024 Income Affidavit form is also available on the Riverbay website. To access it, visit https:// coopcity.com, click on the “Resources” tab and then select (Continued on page 5) “Finance” from the drop-down
2025 Election Committee Notice to Certified Clubs & Organizations
The 2025 Election Committee is pleased to present our "Get Out the Vote Events," designed to promote voter education and increase engagement under this year's theme: “commUNITY.” (See flyer below.) (Continued on page 10)
2025 Riverbay Board Election
Let’s Bring Back The “Unity” in CommUNITY! FRIDAY, MAY 2ND ! e Date
Save Th
CLUB DAY Meet Your Co-op City Organizations Dreiser Auditorium 177 Dreiser Loop Auditorium, 5 - 8 p.m. Hosted by 2025 Election Committee Co-Chairs:
Monique Coleman & Leah Graham For more information: riverbay2025election@riverbaycorp.com