Like most business corporations, our co-op relies on a Board of Directors to oversee operations and make decisions for the benefit of all shareholders. The Board keeps track of regular expenses, prioritizes extraordinary expenses, and hires contractors to maintain the building or make capital improvements.
However, the board is not only responsible for the corporation’s finances, but also for the quality of life in our buildings. It interviews and approves or rejects prospective shareholders and sublessees, formulates and enforces rules and regulations and other policies, and decides whether to install new amenities that will improve our residents’ quality of life.
The Board meets once a month to analyze operations during the preceding month and to discuss and make policy decisions. All shareholders are welcome to attend the open sessions of the monthly Board meetings (see Board Meetings).
Our Board consists of nine members. Board members are elected once a year during the co-op’s annual shareholders’ meeting, generally held the third or fourth week of June. If you are interested in being a Board member or volunteering for the co-op in another capacity, contact the Board for more information.