Category Archives: Co-op Communications

Personal income tax return data for 2016

The following is a reproduction of a memo sent on 11 January 2017 to all shareholders by our co-op’s certified public accountants: Prisand, Mellina, Unterlack & Co., LLP. View/download the scanned memo (PDF, 223KB).

To: Shareholders of Nagle Apartments Corp.

Re: Personal income tax return data for 2016

Dear Shareholders:

Under the provisions of Section 216 of the Internal Revenue Code, a tenant stockholder of a Cooperative apartment is entitled to deduct from personal gross income a proportionate share of interest and real estate tax paid or incurred by the Cooperative Corporation. Note that these deductions are generally available if the taxpayer itemizes tax deductions.

For the year 2016 your per share individual income tax deductions are as follows:

Mortgage interest     $10.2220 per share

Real estate tax     $21.2860 per share

For the year 2016, if you were granted any real estate tax abatements, reflected in a maintenance credit or received by check, your real estate tax deduction as stated above should be reduced by the amount of the abatements you received.

In order to compute your total deductions for 2016, multiply the number of shares owned by you, as indicated on your stock certificate, by the amounts per share stated above. If you became a stockholder, or sold your stock in the Corporation during 2016, you are permitted to deduct a fractional part of the figures, based on the proportionate part of the year you owned the stock.

Contributed capital in 2016 was $18.0580 per share for mortgage amortization and $7.9368 per share for capital assessment. This is not a deduction, but an increase in the basis of your investment.

Should you have any questions regarding the application of the aforementioned information to your individual income tax returns, please consult your personal tax advisor.

PRISAND, MELLINA, UNTERLACK & CO., LLP
Certified Public Accountants

Annual budget meeting 2016 – Update

The following is a reproduction of a memo dated 20 December 2016, distributed by management to all shareholders.

Dear Shareowners,

2016 yearly recap and look forward to 2017

In 2016 we completed the garage roof deck with the landscape designer we selected, Christian Duvenois. We are all very excited about our wonderful new space! The gym was also redesigned with new equipment in the past year.

2017 budget and maintenance

In order to deal with anticipated increased costs in insurance, real estate taxes and other operating costs, the Board of Directors has voted to increase maintenance costs by a modest 2%.

In addition, the current capital assessment will continue as 10% of the monthly maintenance. This makes the total increase of 2.2% total cost per shareholder for the year 2017.

The assessment continues our goal of 10% to meet Federal Banking Regulations. Those regulations require us to maintain at least 10% of total maintenance as part of our reserve funds for capital expenditures. So as not to overly burden our shareholders, we have consciously kept our maintenance increases small and gradually built to this 10% goal over the last few years in order to meet these regulations. The 10% assessment is not temporary, it is an important part of permanent prudent financial planning for the coop and assists us in funding necessary capital projects such as the windows, repairs in the garage and pending improvements to the roof.

The Board of Directors, the staff and Management wants to wish each of you a fantastic holiday season and a safe, healthy and prosperous 2017!

Co-op Board meeting calendar 2016–2017

Co-op Board meetings for 2016–2017 are typically scheduled on the second Monday of every month, from 7:30 to 9:30 p.m., in the community room in the basement of 37 Nagle Ave. (See original memo.)

All shareholders are welcome to attend the regular Board meetings!

The Board meetings and other meetings for 2016–2017 have been scheduled as follows:

  • Monday 14  November 2016
  • Special financial planning meeting (CLOSED) – Monday 12 December 2016
  • Monday 9 January 2017
  • Monday 13 February 2017
  • Monday 13 March 2017
  • Monday 10 April 2017
  • Monday 8 May 2017
  • Monday 12 June 2017
  • Annual shareholders meeting – Wednesday 28 June 2017, 6pm

All meetings are scheduled to begin at 7:30 pm unless otherwise noted and are subject to change.

Garage roof deck – Rules and official opening party

The following is a reproduction of a memo from the Board of Directors dated 28 September 2016 (scanned original, 179KB).

Date: 28 September 2016
From: Board of Directors
To: Resident
Re: Garage Roof Deck – Rules and Official Opening Party

Dear Resident,

We are very happy to announce that the garage roof deck is almost completely finished and, to celebrate, there will be an official opening party to be held on October 22nd. More details on that party will be sent out and signs posted.

While there are still a few things that have to be finished and some changes made to the design, the Board of Directors is happy with the finished product and even happier that all of the major construction on the garage roof and inside the garage have been completed. That project began in the summer of 2014. It was a long two years, but the final product adds a lot to the co-op and its community.

Previously, a quick set of rules was circulated, as some people were violating the most important ones before the roof deck was even officially opened. Attached to this memo is the full set of official rules for the roof deck, with clarification on those rules already sent out. This final version replaces any previous rules.

Hopefully, everyone has had a chance to enjoy the new roof deck. If you have any questions or concerns, please feel free to contact the management office and Justin Verret.

The Board of Directors
Nagle Apartments Corp.

Roof deck rules and regulations

  • Please be respectful and considerate of your neighbors at all times. There are apartments that are on the same level of the roof.
  • Quiet hours apply to the roof deck. After 11 PM the roof deck can still be used, but voices and noise should be at a minimum. Please be considerate to your neighbors.
  • Pets are not allowed on the roof deck or the lower courtyard at any time. Pets are not allowed to pass between Nagle and Bogardus. Pets are allowed to pass through the trash area from the Bogardus basement exit to the Bogardus exit ramp.
  • Smoking is not permitted on the roof deck or in the lower courtyard other than in the northeast corner of the lower courtyard away from the building by the large tree. All trash from smoking in the designated area must be cleaned up by the smoker(s) and not left on the ground. Ashes and embers can damage the roof membrane and void the
  • No open flames are allowed on the roof deck. BBQing will still be allowed but must be done on the lower courtyard. Candles are not permitted on the roof deck. Open flames can damage the roof membrane and void the warranty.
  • Furniture can be moved but must be placed back in its original location after it is used. Please do not drag the furniture as it can damage the decking.
  • Personal items should not be left or stored without consent from the Board of Directors.
  • Please clean up after each use. Residents are responsible for making sure that all trash and recyclables are thrown away properly.
  • Gatherings of 10 or more people (non-residents) must be approved. Please contact the management office to request information.
  • Gatherings are not exclusive events. The roof deck is open to all residents to use during normal hours.
  • Children under the age of 13 must be supervised by an adult at all times.
  • Ball playing on the roof deck should only be done on the artificial grass, and balls should not be thrown against the building.
  • Please do not do any gardening or touch the water hoses and sprinklers.

These rules are subject to change by the Board of Directors at any time. Violation of the rules will receive a warning for the first offense and $50 fine for a second offense. Repeated offenses will result in further legal action.

Oktoberfest 2016 – Let’s celebrate our new roof garden!

nabors-oktoberfest-2016

Hello NaBors,

Please save the date …

Saturday 22 October 2016, 2pm

The Board would like to invite you all to join us in celebrating our new roof deck garden and kicking off the Fall Season with a bang and a beer for Oktoberfest 2016!

We will provide brats, hot dogs, veggie kabobs and some German beer! We will also have water on hand. We hope you can make it and ask you to bring a side dish to share with everyone, and if you want to drink something other than beer, please bring that too!

There will be face painting for the kids, too!

In order to better plan, we ask that you either RSVP online at or contact a board member and let them know.

We ask that you let us know by 10 October.

Hope to see you all there!

2016–2017 Board of Directors

The following is a reproduction of a notice posted on the co-op’s bulletin boards. View/download the scanned notice (PDF, 107KB).

Below are the directors elected to the Board of Directors at the 2016 Annual Meeting to serve until the 2017 Annual Meeting.

Stephen Sameroff – President
Elisabeth Furtado – Vice President
Ryan Scott – Treasurer
Jeannine Jones – Secretary
Mathew Bizzarro
Babette Crain
Halima Henderson
Rachel Perkins
Walter Strafford

2016 Annual Meeting of Shareholders

To: All Shareholders of Nagle Apartments Corp.
From: Justin Verret
Date: 16 May 2016
Re: 2016 Annual Meeting of Shareholders, 22 June 2016, 6 p.m.

Enclosed you will find the Notice of Meeting for the Nagle Apartments Corp. 2016 Annual Meeting of Shareholders. Please fill out the proxy and mail it or fax it to my attention to ensure we have a quorum for the meeting. If you are going to attend the meeting, your proxy will not be used.

If you wish to run for the Board, please send a bio to my attention so it can be distributed to the shareholders before the meeting. I should be in receipt of this bio no later than Friday 3 June in order to have it distributed prior to the meeting. You can still nominate yourself at the meeting or prior, but if a bio is not received before 3 June, it will not be made available to shareholders until the day of the meeting.

This year’s meeting will be held in the courtyard of Nagle Apartments, New York, NY 10040. Food and refreshments will be served starting at 6 p.m. I look forward to seeing you all there. Please contact me if you have any questions.

Enclosures:

Roof deck construction starting on 4 April

The following is a reproduction of a memo from Managing Agent Justin Verret, delivered to residents on 1 April 2016. View/download the scanned memo (PDF, 386KB).

To: All Residents of Nagle Apartments
From: Justin Verret
Re: Roof deck construction commencing April 4th

Please be advised that the roof deck project is officially commencing on Monday April 4th. During that week, materials will be started to be loaded in and some of the base work will be starting. Over the following weeks the full construction will be taking place.

The garage roof will have to be closed during the majority of construction other than for emergency access or basement access to 14 Bogardus from the street side ramp. The ramp will be temporarily closed at times, but those times will be posted separately. If you need assistance at any time, please let the building staff know.

There is minimal demolition involved, so it should not be as loud as the garage project, and dust should be minimal. The contractors will be cutting materials including wood and stone, so a power saw will be in use at times.

The project is scheduled to be completed by Memorial Day weekend so that the roof deck will be fully opened for the summer months. If you have any questions please contact me.

Our electronics and textiles recycling efforts are a success!

Dear NaBors,

The city and non-profit organization that sponsor our electronics and textiles recycling bins have shared our 2015 statistics with us.

e-cycleNYC

e-cycleNYC banner

We recycled 290 lbs of electronic waste in 2015, keeping toxins out of landfills and our co-op in compliance with the city’s rule against including electronics in regular trash—at no cost to us.

Thank you for placing electronics waste in the e-cycleNYC bin by the elevator in the basement of 37 Nagle, instead of into regular trash!

Please note that only e-waste (telecommunication and computer equipment) should be placed in the e-cycleNYC bin. Please do not deposit household appliances, media or other non-accepted items into the bin. Thanks for your help with this!

re-fashioNYC

re-fashioNYC banner

We recycled 3,465 lbs of textiles and clothing accessories in 2015, keeping more than 2½ tons of material out of landfills and supporting the work of the respected and effective Housing Works, a non-profit organization that provides housing and support services for New Yorkers living with HIV/AIDS—at no cost to us, complete with donation receipts for charitable (up to $250) tax write-off purposes.

Thank you for placing clean all-fabric items (in any condition of wear) and usable clothing accessories into the re-fashioNYC bin in the laundry room of 37 Nagle, instead of into regular trash!

Please note that only clean textiles (clothing, household linens, rags) and clothing accessories (belts, footwear, bags) should be placed in the re-fashioNYC bin, and that items should ideally be bagged. Please do not deposit non-fabric items other than clothing accessories into the bin. Thanks for your help with this!

Yay, us! Let’s keep on keeping our e-waste and textiles out of landfills and contributing to the health and wellbeing of our city.

—Green Committee

Smoking policy to be discussed by the Board

Dear Shareholders,

At our 11 April 2016 Board meeting we will be discussing a smoking policy for when the newly renovated roof deck is complete. If you have concerns you would like to share, or if you are in support of this, we would like to hear what you have to say. Please come to our meeting on 11 April and let us know your thoughts. If you cannot attend, but would like your voice heard, please contact a board member and let them know.

Thank you.

–Board of Directors