Tag Archives: east midtown plaza

EMPTCA Recommendations for December 2013 Vote

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Email from EMP Tenant-Cooperator Association 12/1/2013

Dear EMP neighbor:

As we have every year, we will soon mail you a proxy . . . along with recommendations, instructions and an envelope for you to mail the proxy back to EMP. If you are away and would like us to email a proxy to you, please let us know.

Here’s a summary of the info you’ll receive:

————————————————-

 We have an exceptional Board of Directors:

  •  EMP is safe, secure and well-maintained.
  • We have new windows, new elevators and much, much more.
  • Roof replacement and plaza reconstruction programs are underway.
  • 10 of our 11 stores are rented — at very good rents.
  • If we attempt to go private again, these Board members will support it.

                  We urge you to re-elect ALL FIVE

  • Mark Andermanis
  • Steven Goldstein
  • Janice Kabel
  • Mala Mosher
  • Larry Weiner

One other issue: Vote FOR the resolution to increase the purchase price of our apartments. The increase will pay for major projects and help keep our maintenance low. This charge will only affect people buying new apartments.

Vote FOR the resolution. It’s really good for EMP.

 The 300+ members of the East Midtown Plaza Tenant-Cooperator Association

Questions or comments? Email emptca@aol.com

Privatization bid rejected by NY Court of Appeals

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In a 6-0 decision the NYS Court of Appeals ruled against EMP in it’s bid for privatization. The court ruled that:

  1. The privatization vote must be by apartments, and
  2. The Attorney General has the right to use the Martin Act for privatization issues.

http://www.nycourts.gov/ctapps/Decisions/2012/Nov12/187opn12.pdf

The brilliance of the Mitchell-Lama program-Why buildings need to go private

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This wasn’t mentioned by any of the respondents in the Privatization case. I hope that maybe the Court of Appeals judges will read it.

I don’t get why the people who support Mitchell-Lama, the politicians who are crying to save affordable housing and those in the EMP-MLO support part of the Mitchell-Lama program but not it’s true intent. The reason that buildings are allowed to leave the program after 20 years is because the framers of the Mitchell-Lama program understood that a multi-unit dwelling will start to need expensive repairs later in it’s life. Local Law 11 work, roof replacement, window replacement, pipes, boilers, concrete work, etc. are only a small part of it. Buildings are allowed to leave the program so that funds can be made available for these repairs. Without these funds, the buildings will crumble into the ground like what is happening to Co-Op city in the Bronx.

The 2nd part of this brilliant strategy is that the State and Local government is supposed to use the funds generated provided by a Mitchell-Lama building exiting the program (from the pre-payment of the mortgage) to build more Mitchell-Lama housing. This has never happened.

east midtown plaza
mitchell-lama
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