Vol. 61 No. 27
$1.25
July 25, 2026
Read us online: issuu.com/cctimes • Follow us on social media: IG/X/Threads @coopcitytimes • @coopcitytimes.bsky.social
Board Election Extended Voting Deadline Ends in Nine Days By ROZAAN BOONE
With only nine days remaining before the current voting deadline expires on Friday, July 31, shareholders should be aware that more than 500 additional ballots are still needed to reach the quorum required to complete this year’s Riverbay Board of Directors election. The 2026 Election Committee, chaired by Board Director Mary Pearson, continues to oversee the election process, and the independent election vendor, YesElections, has reported that not enough ballots have been returned by shareholders to validate the election. This year’s quorum requires 5,041 ballots, and as of press time Friday, 4,528 ballots had been received by YesElections. To prepare for the possibility that quorum may not be obtained by the first extended voting deadline on Friday, July 31, the Election Committee asked the Board to approve a second voting extension. At the Wednesday, July 22nd meeting of the Riverbay Board of Directors, approval was granted by a vote of 12-1, with two directors absent. The extension will add 30 additional days to the voting period which will end on Monday, August 31, 2026. This extension will only be utilized if the quorum is not realized by July 31. The Riverbay Board also approved a second mailing of election ballots to more than 10,000 households that have not responded to the first mailing, to provide those shareholders with another opportunity to participate in the election. Information on the second mailing of ballots will be forthcoming when available. Achieving quorum is a requirement for the Board election to be completed and for the results (Continued on page 4)
Monthly Maintenance Payments Flagstar Bank has notified the Riverbay Finance department of several changes that will be implemented tentatively effective September 2026. These changes are aimed at improving timeliness and accuracy of posting to shareholders’ accounts. Based on the changes, shareholders who normally mail their payments directly to the bank will no longer use the bank’s Hicksville, NY address, but will instead mail their payment envelopes to the bank’s Manhattan branch. Flagstar will no longer be conducting monthly carrying charge payment collection and processing at its Hicksville, NY location. The new address will be included with the August 2026 carrying charge bills. In addition, Flagstar is also discontinuing courier services to Co-op City to pick up checks for processing. Therefore, shareholders will not be able to drop off their monthly carrying charge envelopes to the carrying charge boxes within Co-op City. Instead, they would have to mail their payments directly to the bank’s lockbox, the address for which will be provided with the August statements. Other changes include a new vendor to print and mail the monthly maintenance statements and revised payment processing procedure to ensure timely and accurate reconciliation of shareholders’ accounts. Please note that more information will be included with the August 2026 carrying charge statement so shareholders are advised to keenly review the material included in the envelope. We appreciate your attention to these changes and your cooperation during the transition. –Finance department
Report From The Election Committee
Hello, Shareholders, There’s a very good chance that we will not reach quorum by the time the July 31st Drop Box tally is known. That’s why the Board was asked to vote on an additional extension at last Wednesday’s meeting. This way, if we miss next Friday’s deadline, there’s another deadline waiting in the wings. If necessary, Election Extension #2’s deadline would be August 31. That’s the day the election would be finalized. Maybe. But ballot #5041 could be verified sooner than August 31. Election 2026 would be certified the day quorum is reached, or on August 31, whichever comes first. Maybe. There’s no guarantee the insert in the August carrying charge statement will get those leftover 513 valid ballots streaming into YesElections’ office on or before August 31. Oh, you don’t know about the inserts in the carrying charge statements, do you? It turns out, the bank policy changed and we couldn’t print these words directly on the carrying charge statement: Did you vote yet? It is your responsibility as a shareholder to participate in the annual Riverbay Board election, if only to return your ballot for quorum purposes. No. That would have been too simple, wouldn’t it? And that would have been too free of cost, of course. But for not much more money than the next extension will cost us, we were able to insert an extra page into the statement mailing. We could do that on the cheap, (Continued on page 4)
FDNY Sees 70% Increase in Lithium-Ion Battery Fires By BRANDON ORTIZ
FDNY officials revealed this week that New York City has seen a 70% increase in lithium-ion battery fires compared to the same period in 2025. FDNY First Deputy Commissioner Daniel Flynn and Chief Fire Marshall Michael Kavanaugh delivered the news on July 22 following an investigation of a fire that resulted in the death of a 48-year-old Queens man last month. According to the FDNY, a lithium-ion battery for a micromobility device was charging in the kitchen when it malfunctioned and caused the unfortunate blaze. The victim’s death in June marked the first fatality connected to a lithium-ion battery fire this year. Chief Fire Marshall Kavanaugh detailed the trend during this week’s announcement. “So far this year, the FDNY has investigated 235 lithium-ion battery fires,” said Mr. Kavanaugh. “That is compared to 138 at the same time last year, an increase of more than 70%. (Continued on page 2)