Newsletter #129    Acrobat file    Return to archive    Newsletter #131

350 BLEECKER STREET CO-OP NEWSLETTER
NUMBER 130
December 27, 2000

The board met on December 12 and 21, primarily to discuss the 2001 budget, which is attached.

The budget includes these charges:

1.     Maintenance of $4.65 per share per month (no increase)

2.     Sublet fee of $2.50 per share per month (up from $1.25)

3.     Sublet application fee of $500 (up from $275)

4.     Bike room fee of $100 per year per space (no increase)

5.     Defense Fund Assessment of 39 cents per share per month for defending the garage lawsuit filed by Ken Newman (26% less than the monthly construction assessment which is now over). This assessment will be reduced or eliminated if the garage negotiations come to a peaceful conclusion. In the meantime, the co-op may have to defend itself against Ken's lawsuit if negotiations are not fruitful. The co-op's response to the lawsuit is attached.

     If the garage negotiations are successful, any additional income to the co-op will be immediately applied to the costs listed above, so that the assessment and maintenance can be reduced promptly.

6.     Construction assessment of 53 cents per share per month is eliminated. The waterproofing job will be finished in 2001. There are several much smaller projects that many of us would like to see done, such as replacing the mailboxes, the intercom, the carpeting for floors 1 through 5, etc. The board will review the budget next fall in order to see which projects can be funded without further assessments.

To allow all shareholders a reasonable time to get this Newsletter, the January charges (maintenance, assessment, sublet fees, bike room) will not be due until January 19th, instead of January 1, 2001.

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