Newsletter #160    Acrobat file    Return to archive    Newsletter #162

350 BLEECKER STREET CO-OP NEWSLETTER #161
December 21, 2002

The board met on December 15, 2002. Among the issues discussed:

BUDGET FOR 2003

The board decided unanimously to defer its budget decision until sometime in January. Real estate taxes are the largest single item in the operating budget, and the City's valuation for the building will not be known until sometime in January. The City announced a rate increase (18.5%) but the board doesn't know the building's assessed valuation for the next tax year. In most years past, this valuation could be reasonably estimated, but the board was advised that the recent City budget turmoil could lead to unexpected increases.

In the meantime, the co-op's maintenance and fees will be billed at the same rate as December 2002. When the 2003 budget is finalized, it will address possible real estate rebates as well as the real estate tax increases.

NEGOTIATING COMMITTEE

The committee met with Ken Newman, and on a different date, with the board. Until a specific proposal seems reasonable and possible, the board and the committee agreed that the discussions would remain confidential.

HAPPY HOLIDAYS!

Newsletter #160    Acrobat file    Return to archive    Newsletter #162