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.