Category Archives: Co-op Communications

2016–2017 Board of Directors

The following is a reproduction of a notice posted on the co-op’s bulletin boards. View/download the scanned notice (PDF, 107KB).

Below are the directors elected to the Board of Directors at the 2016 Annual Meeting to serve until the 2017 Annual Meeting.

Stephen Sameroff – President
Elisabeth Furtado – Vice President
Ryan Scott – Treasurer
Jeannine Jones – Secretary
Mathew Bizzarro
Babette Crain
Halima Henderson
Rachel Perkins
Walter Strafford

2016 Annual Meeting of Shareholders

To: All Shareholders of Nagle Apartments Corp.
From: Justin Verret
Date: 16 May 2016
Re: 2016 Annual Meeting of Shareholders, 22 June 2016, 6 p.m.

Enclosed you will find the Notice of Meeting for the Nagle Apartments Corp. 2016 Annual Meeting of Shareholders. Please fill out the proxy and mail it or fax it to my attention to ensure we have a quorum for the meeting. If you are going to attend the meeting, your proxy will not be used.

If you wish to run for the Board, please send a bio to my attention so it can be distributed to the shareholders before the meeting. I should be in receipt of this bio no later than Friday 3 June in order to have it distributed prior to the meeting. You can still nominate yourself at the meeting or prior, but if a bio is not received before 3 June, it will not be made available to shareholders until the day of the meeting.

This year’s meeting will be held in the courtyard of Nagle Apartments, New York, NY 10040. Food and refreshments will be served starting at 6 p.m. I look forward to seeing you all there. Please contact me if you have any questions.

Enclosures:

Roof deck construction starting on 4 April

The following is a reproduction of a memo from Managing Agent Justin Verret, delivered to residents on 1 April 2016. View/download the scanned memo (PDF, 386KB).

To: All Residents of Nagle Apartments
From: Justin Verret
Re: Roof deck construction commencing April 4th

Please be advised that the roof deck project is officially commencing on Monday April 4th. During that week, materials will be started to be loaded in and some of the base work will be starting. Over the following weeks the full construction will be taking place.

The garage roof will have to be closed during the majority of construction other than for emergency access or basement access to 14 Bogardus from the street side ramp. The ramp will be temporarily closed at times, but those times will be posted separately. If you need assistance at any time, please let the building staff know.

There is minimal demolition involved, so it should not be as loud as the garage project, and dust should be minimal. The contractors will be cutting materials including wood and stone, so a power saw will be in use at times.

The project is scheduled to be completed by Memorial Day weekend so that the roof deck will be fully opened for the summer months. If you have any questions please contact me.

Our electronics and textiles recycling efforts are a success!

Dear NaBors,

The city and non-profit organization that sponsor our electronics and textiles recycling bins have shared our 2015 statistics with us.

e-cycleNYC

e-cycleNYC banner

We recycled 290 lbs of electronic waste in 2015, keeping toxins out of landfills and our co-op in compliance with the city’s rule against including electronics in regular trash—at no cost to us.

Thank you for placing electronics waste in the e-cycleNYC bin by the elevator in the basement of 37 Nagle, instead of into regular trash!

Please note that only e-waste (telecommunication and computer equipment) should be placed in the e-cycleNYC bin. Please do not deposit household appliances, media or other non-accepted items into the bin. Thanks for your help with this!

re-fashioNYC

re-fashioNYC banner

We recycled 3,465 lbs of textiles and clothing accessories in 2015, keeping more than 2½ tons of material out of landfills and supporting the work of the respected and effective Housing Works, a non-profit organization that provides housing and support services for New Yorkers living with HIV/AIDS—at no cost to us, complete with donation receipts for charitable (up to $250) tax write-off purposes.

Thank you for placing clean all-fabric items (in any condition of wear) and usable clothing accessories into the re-fashioNYC bin in the laundry room of 37 Nagle, instead of into regular trash!

Please note that only clean textiles (clothing, household linens, rags) and clothing accessories (belts, footwear, bags) should be placed in the re-fashioNYC bin, and that items should ideally be bagged. Please do not deposit non-fabric items other than clothing accessories into the bin. Thanks for your help with this!

Yay, us! Let’s keep on keeping our e-waste and textiles out of landfills and contributing to the health and wellbeing of our city.

Green Committee

Smoking policy to be discussed by the Board

Dear Shareholders,

At our 11 April 2016 Board meeting we will be discussing a smoking policy for when the newly renovated roof deck is complete. If you have concerns you would like to share, or if you are in support of this, we would like to hear what you have to say. Please come to our meeting on 11 April and let us know your thoughts. If you cannot attend, but would like your voice heard, please contact a board member and let them know.

Thank you.

–Board of Directors

Drawings/schematics for the NaBors Roof Project

Dear NaBors,

As you know, the roof over the garage has been essentially inaccessible since it was repaired. We have been waiting for construction on the garage to finish (it’s done) before completing the space.

We hired landscape architects, Christian Duvernois Landscape (www.christianduvernois.com), to transform this space. Thanks to all of you who attended meetings (especially the Green Committee) and helped us with the design. View the plans for our wonderful new space!

An added bonus of selecting this company is that there is the potential in the future for a grant to renovate the lower area; we’ll keep you posted on this.

Christian Duvernois will start construction mid–late April, with a planned completion date prior to Memorial Day weekend. We hope to have a nice party to inaugurate it.

–Board of Directors

Click on the image to open the full design PDF:
NaBors roof garden design

Personal income tax return data for 2015

The following is a reproduction of a memo sent on 11 January 2016 to all shareholders by our co-op’s certified public accountants: Prisand, Mellina, Unterlack & Co., LLP. View/download the scanned memo (PDF, 49KB).

To: Shareholders of Nagle Apartments Corp.

Re: Personal income tax return data for 2015

Dear Shareholders:

Under the provisions of Section 216 of the Internal Revenue Code, a tenant stockholder of a Cooperative apartment is entitled to deduct from personal gross income a proportionate share of interest and real estate tax paid or incurred by the Cooperative Corporation. Note that these deductions are generally available if the taxpayer itemizes tax deductions.

For the year 2015 your per share individual income tax deductions are as follows:

Mortgage interest     $11.3574 per share

Real estate tax     $23.0017 per share

For the year 2015, if you were granted any real estate tax abatements, reflected in a maintenance credit or received by check, your real estate tax deduction as stated above should be reduced by the amount of the abatements you received.

In order to compute your total deductions for 2015, multiply the number of shares owned by you, as indicated on your stock certificate, by the amounts per share stated above. If you became a stockholder, or sold your stock in the Corporation during 2015, you are permitted to deduct a fractional part of the figures, based on the proportionate part of the year you owned the stock.

Contributed capital in 2015 was $24.1810 per share for mortgage amortization and $6.2880 per share for capital assessment. This is not a deduction, but an increase in the basis of your investment.

Should you have any questions regarding the application of the aforementioned information to your individual income tax returns, please consult your personal tax advisor.

PRISAND, MELLINA, UNTERLACK & CO., LLP
Certified Public Accountants

2015 yearly recap and look forward to 2016

The following is a reproduction of a memo dated 18 December 2015, distributed by management to all shareholders. View/download the PDF version (301KB).

In 2015 we completed the garage roof and large-scale construction in the garage, where all small items should be completed shortly. Our garage vendor, Nagle Garage Inc., commenced services in October 2015, bringing us again that much needed revenue.

Early in 2016, the landscape designer we selected, Christian Duvenois, will begin the design work on the garage roof with an expected completion date just prior to Memorial Day weekend. We are all very excited about our wonderful new space!

In addition, the gym will be refurbished with new equipment, paint, etc., in the first quarter of 2016.

We are now in negotiations with the new medical office owner in 37 Nagle for the installation of a handicap ramp to the entrance of 37 Nagle.

2016 budget and maintenance

In order to deal with anticipated increased costs in insurance, real estate taxes and other operating costs, the Board of Directors has voted to increase maintenance costs by a modest 1 percent.

In addition, our current assessment will increase by an additional 2 percent, for a combined increase of just under 3 percent total cost per shareholder for the year 2016.

We have now reached our goal of 10 percent for the assessment and, barring unforeseen circumstances, it will remain at this level going forward. Federal Banking Regulations require us to maintain at least 10 percent of total maintenance as part of our reserve funds for capital expenditures. So as not to overly burden our shareholders, we have consciously kept our maintenance increases small and gradually built to this 10-percent goal over the last few years in order to meet these regulations.

The 10 percent assessment is not temporary; it is an important part of permanent prudent financial planning for the coop and assists us in funding necessary capital projects such as the windows, repairs in the garage and pending improvements to the roof.

The Board of Directors, the staff and management wants to wish each of you a fantastic holiday season and a safe, healthy and prosperous 2016!

NaBors joins re-fashioNYC program

re-fashioNYC-logo

Hello, NaBors!

You’ve probably noticed the donation bin in the laundry room of 37 Nagle (or the flyers about it) by now. Maybe you’ve wondered:

What is re-fashioNYC?

It’s a partnership between the City of New York and Housing Works to improve New Yorkers’ lives, lessen the City’s environmental impact, and save taxpayer money.

Why did we join re-fashioNYC?

Three reasons:

  1. To keep valuable materials from going to landfills: Every year NYC residents throw out approximately 200,000 tons (nearly the weight of 900 Statues of Liberty!) of clothing, shoes, bags, belts and other textiles and apparel. Not only is this wasteful, it is costly. Sending material to landfills is among the City’s highest refuse disposal costs.
  2. To help our fellow New Yorkers: In contrast to for-profit used clothing companies that supply similar collection bins, re-fashioNYC is 100% nonprofit. All proceeds from donations support the charitable mission of Housing Works to end the dual crises of homelessness and AIDS.
  3. For the convenience of our NaBors: We wanted to make clothing donation as easy as possible, through a convenient in-building service.

Can I get a tax deduction for the items I donate?

Yes! Self-service tax receipts for donations up to $250 in value are available directly on the bin. Please take only one per donation deposit. Fill out the form and keep it for your tax records. (Tax receipts for donations of higher values must be obtained in-person from Housing Works.)

What happens to donations?

Items donated through re-fashioNYC are sorted at the Housing Works warehouse in Queens. Some donations are sold in Housing Works thrift shops throughout NYC, including the Buy-the-Bag store in Brooklyn. Some leftover items are shipped to Haiti, or sent to other nonprofit thrift shops. The rest are sold to a textile merchant for recycling or exported to overseas markets. No donated material is sent to landfills!

What items are accepted?

  • Clothing of any kind, in any condition of wear
  • Footwear (shoes, boots, sandals, slippers)
  • Clothing accessories (purses, gloves, scarves, hats, belts)
  • Household textiles (towels, curtains, bedding, linens, rags)

Please deposit only CLEAN textiles (laundered/cleanly stored). Please bag your donations before depositing them.