Newsletter #127 Acrobat file Return to archive Newsletter #129

350 BLEECKER STREET CO-OP NEWSLETTER
Number 128
November 7, 2000

The board met on October 10 and 18. Among the issues discussed:

ANNUAL MEETING OF SHAREHOLDERS: TUESDAY NOVEMBER 14, 7 PM, EXERCISE ROOM

Please bring a chair. Refreshments will be served. The board will discuss the garage lease, the waterproofing construction, carpet replacement, recent apartment sale values, and many other topics.

SECRET BALLOT

If you vote by proxy, be sure to sign and date the proxy envelope provided. Your proxy form enclosed in the envelope does not have your name or apartment. Andrew Brucker, the co-op's attorney, counts the proxies and separates them from the envelopes, so your vote remains confidential.

It is important that everyone vote, so that the Annual Meeting has a quorum. You are considered "present" at the meeting whether you come in person, or vote by proxy. If you vote by proxy and then show up to the meeting, you can have your proxy envelope immediately returned to you so that you can vote in person.

GARAGE LEASE NEGOTIATIONS AND LAWSUIT

On October 13, Ken Newman sued the co-op to stop the garage lease termination. A copy of the lawsuit is at www.350bleecker.com. If you'd like a copy, please ask any board member to print it out for you. The co-op's legal response is due November 13. In spite of the lawsuit, negotiations continue.

The board reached an agreement (called the "standstill agreement") with Ken to continue collecting rent for the garage during the lawsuit or negotiations. The agreement also allows the board members to see the lease between Ken and the garage owner, although the terms of the lease are to be kept confidential.

Because of the standstill agreement, we cannot print the rent or term of the lease in this Newsletter. If any shareholder would like to read the lease, she/he can have a copy by signing a confidentiality agreement. Just sign the form attached to this Newsletter and give it to any board member.

To see a copy of the standstill agreement, see www.350bleecker.com or ask any board member to print it out for you.

WATERPROOFING

After discussions with the co-op's attorney, Peter Seiden, and architect, Zen Libowicz, AM+G again re-started their work. The nine air conditioner sleeves facing Bleecker Street on the lobby level were replaced, and work started on the walls facing the back yard. Defective brick and mortar facing Bleecker and Tenth Street was also replaced. The board remains dissatisfied with the pace of the work.

BIKE ROOM WAITING LIST

If you'd like a space in the bike room, should a space become available, please drop a note to any board member.

GARAGE LEASE

To receive a copy of the garage lease, please sign this form and give it to any board member.

I have read the terms of the Standstill Agreement and agree to uphold them.

Name (print)_________________________________ Name (signature)________________________________

Date________________________________________ Apt_____________ Phone ________________________

FINANCIAL STATEMENT

Marylou Moravec's (Treasurer) monthly statement is attached.

Newsletter #127 Acrobat file Return to archive Newsletter #129