Category Archives: Co-op Communications

Board of Directors, 2014–2015

The new Board of Directors, including elected officers, was announced and posted to the building bulletin boards on 10 August 2014.

(View/download the scanned memo [PDF, 81KB].)

Board Officers

President Steve Vernon 6S*
Vice President Joanne Hoffman 2H*
Treasurer Ryan Scott 2T*
Secretary David Sykes 1T*
Assistant Secretary Justin Verret **

Board Members

Babette Crain 3S*
Jeannine Jones 2K*
Scott Lahodny 1J*
Martin Malzahn 1S
Stephen Sameroff 2X

* Served on a prior Board
** Nonvoting Managing Agent

Hurricane Preparedness

The following is a reproduction of a memo from the Board of Directors delivered to shareholders on 1 August 2014.

(View/download the scanned memo [PDF, 83KB].)

Date: 1 August 2014
Regarding: Hurricane Preparedness

Dear Residents,

Now that hurricane season is in full swing, the Board wants to remind residents of steps they can take to better prepare themselves in case one approaches NYC. It is the responsibility of each shareholder or resident to be prepared. The Board is suggesting that each household review its own emergency plans and preparations. Here are some ideas to consider:

  1. Services may be disrupted, such as:
    1. Electric service, cooking gas and water on higher floors;
    2. Cable TV and Internet service;
    3. Phone service (both cell and/or land lines);
    4. Heat, hot water, cooling and air circulation;
    5. Public transportation and sanitation (trash) pickup;
    6. Elevators may be turned off as a precaution, or electric service to elevators may be lost;
    7. Building staff and management may not be able to get to the building safely or swiftly.
  2. Please have non-perishable food (e.g., canned or dried), a manual can opener, and bottled water on hand for yourself, your family (including any infants and children), and pets for up to fourteen (14) days.
  3. Please remove EVERYTHING from fire escapes as these could become airborne with high winds.
  4. ATMs may not work — have a supply of cash on hand ahead of time.
  5. In case a hurricane approaches, the staff will remove toys from the playground as a precaution.
  6. If you own a car, you may wish to maintain a full tank of gasoline, do not park in a low-lying area, or do not park under a tree.
  7. Replenish your supply of batteries, candles and flashlights (be careful with using candles — please only use on fireproof surfaces). Please check battery-operated smoke and carbon monoxide detectors. Have replacement batteries available.
  8. Replenish any prescription or over-the-counter drugs and health supplies that are running low.
  9. Maintain a manual or hard-copy of important phone numbers, as cell phones may lose charge resulting in the inaccessibility of these important numbers.
  10. Maintain adequate levels of homeowners, renters and/or flood insurance (including replacement cost coverage).
  11. Keep important documents in a waterproof bag (for example, a Ziploc bag).
  12. Check in on your neighbors to make sure they are doing well.
  13. An Uninterruptible Power Supply (“UPS”) device may allow for limited computer, Internet and cell phone charging during a power outage (assuming that your Internet service is DSL and that your modem/router is plugged into the UPS).
  14. Although the co-op remains outside of the flood zones, after hurricane Sandy, the co-op’s property has been placed in an evacuation zone by NYC. There are six zones. We are now in evacuation zone five (5). The closest evacuation center is George Washington High School, 549 Audubon Street.

Please refer to NYC’s Office of Emergency Management’s website for additional information at http://www.nyc.gov/html/oem/html/get_prepared/prepared_plan.shtml and http://www.nhc.noaa.gov/.

Garage Roof and Interior Repair Program: Garage Roof Work Starting

The following is a reproduction of a memo delivered to shareholders by Managing Agent Justin Verret on 24 June 2014.

(View/download the scanned memo [PDF, 30KB].)

To: All Residents of Nagle Apartments Corp.
From: Justin Verret
Date: June 24th, 2014
Re: Garage Roof and Interior Repair Program: Garage Roof Work Starting

After some delays in getting the DOB permitting to continue work on the garage, work will be starting June 26th. There will be core drilling and probes done to the garage roof by Xinos Construction, and they will be starting to mobilize materials and equipment into the garage.

The garage roof will be closed for general access. There will still be passage from the basement of Bogardus to the trash area and to the side gate and ramp. There will not be access to the garage roof from the lower courtyard or from Nagle Avenue. There will be an updated schedule as the repair project progresses.

Thank you for your attention to this matter.

2014 Annual Meeting of Shareholders, 25 June 2014

The following is a reproduction of a memo sent to shareholders by Managing Agent Justin Verret on 27 May 2014.

(View/download the scanned memo [PDF, 44KB].)

To: All Shareholders of Nagle Apartments Corp.
From: Justin Verret
Date: 27 May 2014
Re: 2014 Annual Meeting of Shareholders, 25 June 2014

Enclosed you will find the Notice of Meeting for the Nagle Apartments Corp. 2014 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 June 24th.

This year’s meeting will be held in the courtyard of the Nagle Apartments, New York, NY 10040, or in the event of rain, the conference room located in the basement of 37 Nagle Avenue, New York, NY 10040. Food and refreshments will be served starting at 6 PM. I look forward to seeing you all there. Please contact me if you have any questions.

Enclosures:

Garage Roof and Interior Repair Program: Asbestos Abatement Completed

The following is a reproduction of a memo delivered to shareholders by Managing Agent Justin Verret on 14 May 2014.

(View/download the scanned memo [PDF, 19KB].)

To: All Residents of Nagle Apartments Corp.
From: Justin Verret
Re: Garage Roof and Interior Repair Program: Asbestos Abatement Completed

The first phase of the garage roof replacement and interior garage repairs has been completed. The asbestos abatement is done and the focus will now be on the garage roof surface itself. Xinos Construction is waiting on the city to sign off on the asbestos project so they can start the actual roof replacement and waterproofing. This is expected to start around June 2nd. There will be little activity on the roof until that time. About a week before work is to start a schedule including work procedures will be posted. This will have a basic timeline and a review of when access to the roof will be limited or closed entirely. The playground and garden area will remain open during the project. Any closures to these areas that may be necessary.

The garage will remain open for parking until May 31st. It is planned on being reopened when work is completed at the end of the summer. This will be updated as the repair project progresses.

Thank you for your attention to this matter.

Garage Roof and Interior Repair Program

The following is a reproduction of a memo delivered to shareholders by Managing Agent Justin Verret on 16 April 2014.

(View/download the scanned memo [PDF, 63KB].)

To: All Residents of Nagle Apartments Corp.
From: Justin Verret
Re: Garage Roof and Interior Repair Program

The garage roof replacement and interior garage repairs are set to begin next week. The garage will remain open for parking until May 31st. The focus of the first part of the project is to remove the existing roofing off of the garage roof and install a new waterproof membrane and roofing material.

On April 21st the garage roof will start to be removed. Just like the building roof removed 2 years ago, there is asbestos in the original material that has to be abated. A professionally licensed and insured asbestos abatement company has been hired to do the removal. Rand Engineering is overseeing the process and it is filed and signed off on by the State of New York. In order to follow federal regulations, the garage roof will not be accessible by residents during the abatement process. The abatement is scheduled to take 5 weeks. During that time there will not be access to the garage roof from any of the buildings. The playground and garden area will still be accessible from the Nagle basement exits. However, they will not be accessible directly from Bogardus. If you have plans to use these areas for activities, please plan accordingly. The roof deck furniture will be moved to the garden area.

The path from the Bogardus basement to the trash area and sidewalk ramp will have to be closed for one day. A special barrier is being installed after that one day so that the exit and access to the trash and the ramp will be available at all times. There will be a notification when that date is scheduled sometime within the next 2 weeks.

Those on the second floor with windows that open directly out onto the garage roof will have to have your windows protected while the abatement is being performed. This is a federal requirement and has to be done during the process.

The type of asbestos in the roofing material is only dangerous if it is turned into dust. To prevent this, the material will be sprayed with encapsulating foam and immediately sealed in airtight bags. This is the same process done to the building roofs and is the proper way to abatement the material.

An updated schedule on the actual roof replacement and work will be posted towards the end of the abatement project. The roofing waterproofing should take 4–6 weeks, then the majority of remaining work will be done inside the garage and will not affect the day-to-day operations or activities in the building. The whole project is expected to be completed in early September.

Thank you for your attention to this matter.

STAR Credits, Tax Abatements and Tax Assessments

The following is a reproduction of a memo delivered to shareholders by Managing Agent Justin Verret on 27 February 2014.

(View/download the scanned memo [PDF, 234KB].)

To: All Shareholders
From: Blue Woods Management Group
Re: Star Credits, Tax Abatements and Tax Assessments

Please be advised that the STAR credits and Real Estate Tax Abatement credits have been received for those shareholders that have applied and are eligible. The credits are being applied in 4 equal installments on the March to June maintenance bills. Only shareholders who are primary residents are eligible for the credits.

If your building assesses the Real Estate Tax Abatement, the assessment is being charged to all shareholder accounts over the same 4 months March through June. The assessment is billed at the same price per share for every apartment regardless if they receive any tax credits. [Note: NaBors Apartments does not assess the tax abatement.]

If you have any questions please contact the accounting department at 914-524-8600.

Time Warner Cable – Discounted Rate Program

The following is a reproduction of a memo delivered to shareholders by Managing Agent Justin Verret on 27 February 2014.

(View/download the scanned memo [PDF, 213KB].)

To: All Residents of Nagle Apartments
From: Justin Verret
Re: Time Warner Cable

Please be advised that the building has entered into a discounted rate program with Time Warner Cable for TV and Internet. The discounted fee is $79.95 plus taxes and fees and includes the HD television service, Turbo Internet, one set-top box, one modem, and one remote control. Any additional services are billed to you individually by TWC.

The billing takes effect March 1, 2014. For anyone who has already received their March statement, you will see the changes reflected in the following month’s statement, including credits retroactive to March 1st. If you receive your bill in March, the new rates will be applied.

If you have any questions, you need to contact TWC directly [at +1 212 358-0900]. The co-op and management do not handle the billing for cable or Internet services.

Personal Income Tax Data for 2013

The following is a reproduction of a memo sent on 14 January 2014 to all shareholders by our co-op’s certified public accountants: Prisand, Mellina, Unterlack & Co., LLP.

(View/download the scanned memo [PDF, 678KB].)

TO: Shareholders of NAGLE APARTMENTS CORP.

RE: PERSONAL INCOME TAX RETURN DATA FOR 2013

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 2013 your Per Share individual income tax deductions are as follows:

MORTGAGE INTEREST    $9.3775 per share

REAL ESTATE TAX    $19.7030 per share

For the year 2013, 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 2013, 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 2013, 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 2013 was $23.5902 per share for mortgage amortization and $3.7200 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

STAR and Co-op Abatement Credits

The following is a reproduction of a memo posted to the bulletin boards by Managing Agent Justin Verret on 13 January 2014.

(View/download the scanned memo [PDF, 300KB].)

Dear Shareholders,

The city has just released the breakdowns for the annual STAR and Co-op Abatement credits. In years past the breakdown was received in December or January and the credits were given back to those that qualify in equal monthly installments through June of that year. Last year the program was changed so that only shareholders who live in the building as their primary residence are eligible to receive the credits. The city was determining shareholder eligibility as of last June 2013, and the final list was not received by management until July 2013 with the credits being applied to accounts in August 2013.

Last year the STAR credits were given back before the Co-op Abatement. This is not going to be done this year to avoid the issues created by changes to the credits by the city after the fact. This means that STAR and co-op abatement credits will not be given back until the final list is received from the city. Hopefully this will be as soon as March 2014. This does not affect the total amount you are to be given back. It only affects the total number of months the amount is divided over.

If you do not receive STAR credits, you can still apply for the 2014/2015 tax year. The deadline for that is March 1st. The forms can be found online or by calling 311. The co-op applies for the Co-op Abatement on your behalf. You do not need to apply for that.

If you have any questions please call 914-524-8600.

Regards,

Justin Verret