Respect What is Yours, Respect Each Other, Respect Your Community

Greetings, shareholders and residents. In plain language, Resolution 21-05 states that the Riverbay Corporation must, according to NY State Business Corporation Law, hold an election to elect a Board of Directors by a “one-third of the corporation” quorum. Guess who the “Riverbay Corporation Quorum” is made up of? YOU, dear shareholder, you are the Riverbay Corporation. In my humble opinion, this is where we dropped the ball. Each year, we hold elections, but we hold these elections and less and less shareholders take the time to turn in their ballots. It becomes a daunting task to reach the quorum and it costs “us,” the shareholders, unnecessary funding to abide by the state law.

Well that would be the easy way out. But it would mean us “selling out” our power as shareholders. We should not become sell-outs because something is hard to do.

There is strength in numbers and our numbers are our strength. The problem here is that too many shareholders shun their responsibility. What must be understood is when you made the decision to live here, you bought into a corporation in which you are a partner. You are in partnership (i.e., business) with the other 15,000 families and 55,000 residents. You elect the Board to run your business. Why? Because as a partner and shareholder, you get to say what happens on this property, but because 55,000 of us can’t be in a Board Room making decisions, you decide by your vote who runs your business. If you don’t have a Board, the corporation fails. That is something that should never happen. This is not a political election. This election is about the process of running a corporation and adhering to a business model that you agreed to when you moved in, having nothing to do with religious beliefs. A business model that allows you amenities that you’d be hard pressed to find elsewhere; (i.e., central air and heat, gas and electricity and countless others) all included in your monthly carrying charge. That is what you are protecting when you exercise your power as a shareholder and part business owner of the Riverbay Corporation. That is why Resolution 21-05 is an important resolution.

Here is a story too often played out in the laundry rooms of Co-op City. Shareholder/resident enters the laundry room to wash their clothes. During this shareholder’s time in there, a family of four (including a child) enters the laundry room and fills all of the dryers with clothes. The entire family of four proceeds to leave the laundry room. The machines they have been using stop and they are nowhere to be found. Mind you, the laundry room is now over the safety capacity and people are lined up waiting for dryers (not removing the dry clothes) for fear of starting and being involved in a negative confrontation.

We are Too Blessed to be Stressed

There is nothing more to say here other than STOP THIS! Do what is right. You know, it is not right to leave the laundry room and not come back in a timely fashion. You know, it is not right to sit (with your dirty, worn clothes) on the tables where people need to use them to fold their “clean clothes.” You know that it is not right to treat others in a manner in which you would not like to be treated. We all have enough stress that we must live with that is for the most part, out of our control. So let’s use this one segment of life (i.e., the use of our laundry rooms) that we all need, to get us through our days; this one “controllable segment of life” and do what is right.

Here’s to your Health: 19th Annual Holistic Health and Wellness Fair

Kudos to former Riverbay Board Director Ms. Francine Reva Jones and the Executive Team of the African-American Association Co-op City. You guys assembled a stellar program of the most astute clinicians and masters of health and wellness this community has ever seen. Education on everything from the immune system to the best collard green salad prepared right before our eyes and an exercise break to boot. Here is a brief review of the masters in their respective fields and the topic they covered during the webcast that was offered on Zoom We will review each of them in depth in the African-American Association of Co-op City article in the weeks to come.

Dr. Velva Boles, MD, PhD – Immune System

Tamika Moseley, Master Herbalist – Managing Sickle Cell Disease

Deanna Hope-Felix – Colonic, Massage

Ramnhru – Estate Planning

Lenise Lee-Streeter, Pastry Chef – Pastry preparation

Soul Latin Line Dancers with Cynthia Dixon –Exercise

Nfr KaRaa, LCSW (Licensed Clinical Social Worker) – Mental Warfare

Jamaal Duarte (21 years young) – Meditation

Prof. Abdul-Aziz-El – Acupuncture

Carlton Callazzo and Chef Kai – Healthy food preparation

We wear masks so that one day, we will lose no more souls to Covid-19. Those of you who attended the Wholistic Health and Wellness Fair were privy to information on the misdiagnosis of people of color during the height of the Covid-19 crisis. It is still around. Wear your masks in close quarters and heavily populated gatherings.

Thank you for reading my viewpoint. I can be reached at mmarbury@riverbayboard.com. Let’s all do our part!

Each one of us divided by all of us equals a force for good.

SUBMITTED BY: Rod Saunders

SECONDED BY: Jacqueline Smith, Lynette Wright

BOARD OF DIRECTORS MEETING

DATED: April 25, 2023

WHEREAS, Riverbay Corporation (“Riverbay”) acting through the Board of Directors of Riverbay Corporation (“BOARD”) adopted Resolution # 16-45 authorizing an annual allocation of up to $150,000 to the Riverbay Fund, Inc. for the purpose Program Department: and

WHEREAS, the Riverbay Board adopted disbursement of such funds;

WHEREAS, Resolution #16-45 further provided that disbursements of said funds was conditioned upon the preparation and distribution of a monthly accounting report to the Riverbay Corporation detailing the amount disbursed and the purpose of said disbursement; and

WHEREAS, the Fund’s reporting;

NOW THEREFORE BE IT RESOLVED, effective immediately no further funds shall be disbursed to the Riverbay Fund, Inc.

Lease Resolution #23-22

SECONDED BY: Kevin Lambright BOARD OF DIRECTORS MEETING

DATED: April 25, 2023

WHEREAS

Riverbay Corporation for premises at 2043B Bartow Wireless Mobile store and like products; and

WHEREAS

Assignment pursuant to the terms of the lease, to assign the lease to 20/20 Mobile Corp. and

WHEREAS, the term of the lease and annual rental rates are within the provisions of Resolution #85-16 as amended by Resolution #95-44; NOW, THEREFORE, BE IT RESOLVED, that the lease agreement for the premises at 2043B Riverbay Corporation, Owner, and to 20/20 Mobile Corp., Tenant, containing the terms as negotiated by Riverbay Corporation’s Management is hereby approved as submitted by Management in accordance with Resolution #85-16 as amended by Resolution #95-44; and be it

FURTHER RESOLVED, that the President of the Corporation is authorized to sign the lease agreement and related documents on behalf of Riverbay Corporation.

YES: Coleman, Feliciano, Johnson, Lambright, Leslie, Marbury, Rosario, Sampson, Saunders, Smith, Wright

ABSENT FOR VOTE: Peterson

ABSENT: Cylich, Richardson, Watson PASSED

Co-op City Times / April 29,

2023

SECONDED BY: Claudia Sampson

BOARD OF DIRECTORS MEETING

DATED: April 25, 2023

WHEREAS lease from Riverbay Corporation for the premises at

WHEREAS rates are within the provisions of Resolution #8516 as amended by Resolution #95-44; and NOW, THEREFORE, BE IT RESOLVED, that the lease agreement for the premises at 4240 by and between Riverbay Corporation, Owner, and Dr. Karim Badawy, Tenant, containing the terms as negotiated by Riverbay Corporation’s Management is hereby approved as submitted by Management in accordance with Resolution #85-16 as amended by Resolution #95-44; and be it

FURTHER RESOLVED, that the President of the Corporation is authorized to sign the lease agreement and related documents on behalf of Riverbay Corporation.

YES: Coleman, Feliciano, Johnson, Lambright, Leslie, Marbury, Rosario, Sampson, Saunders, Smith, Wright

ABSENT FOR VOTE: Peterson

ABSENT: Cylich, Richardson, Watson PASSED

Insurance Resolution #23-23

SECONDED BY: Michelle Marbury & Claudia Sampson

BOARD OF DIRECTORS MEETING: April 25, 2023

WHEREAS, Riverbay’s Power Plant Property Insurance Policy expires 4/30/23; and

WHEREAS, the expiring Power Plant Property Insurance Policy was a shared and multi- layered program with multiple insurance carriers totaling $167,650,300 Total Insured Value (TIV) of coverage for the Power Plant for an annual premium of $1,476,464 including broker fee, TRIA and taxes; and

WHEREAS, the Director of Risk Management, after an extensive marketing program through USI Insurance Services, Inc., Riverbay’s Power Plant Property Insurance broker, because of a continued hardening market due to limited capacity, adverse property losses throughout the country, a poor loss ratio involving Power Plant claims and a 3.86% increase in the Power Plant’s TIV ($174,117,160), recommends placing the Power Plant Property Insurance policy in a shared and multi-layered program for an annual premium, including broker fee, TRIA and taxes, not to exceed $1,796,428, a 21.67% increase, for the policy period 4/30/23 – 4/30/24.

NOW, THEREFORE, BE IT RESOLVED, that the Board approves placing the Power Plant Property Insurance Policy program in the same format and coverage amounts as noted above for an annual premium, including broker fee, TRIA and taxes, not to exceed $1,796,428, for the policy period 4/30/23 – 4/30/24.

BE IT FURTHER RESOLVED, that this Resolution shall take effect immediately.

Lease Resolution #23-21

SECONDED BY: Angelo Rosario

BOARD OF DIRECTORS MEETING

DATED: April 25, 2023

WHEREAS, Co-op City Pharmacy, Inc. has reto be used as for hair and salon services; and

WHEREAS rates are within the provisions of Resolution #8516 as amended by Resolution #95-44; and NOW, THEREFORE, BE IT RESOLVED, that the lease agreement for the premises at 161 Riverbay Corporation, Owner, and Co-op City Pharmacy, Inc., Tenant, containing the terms as negotiated by Riverbay Corporation’s Management is hereby approved as submitted by Management in accordance with Resolution #85-16 as amended by Resolution #95-44; and be it

FURTHER RESOLVED, that the President of the Corporation is authorized to sign the lease agreement and related documents on behalf of Riverbay Corporation.

YES: Coleman, Feliciano, Johnson, Lambright, Leslie, Marbury, Rosario, Sampson, Saunders, Smith, Wright

ABSENT FOR VOTE: Peterson

ABSENT: Cylich, Richardson, Watson PASSED

Emergency Resolution #23-24

SUBMITTED BY: Kevin

Lambright

SECONDED BY: Lynette Wright BOARD OF DIRECTORS’ MEETING: April 25, 2023

WHEREAS, the turnkey contractors continue to successfully renovate turnkey apartments, and with the beginning of the new budget year 2023/2024 we need to allocate additional funding in support of the turnkey project; and

WHEREAS: Management recommends that to maintain funding for the turnkey contractors going forward that the Board authorize allocating $2,400,000.00 from the $5,760,000 2023/2024 approved Turnkey budget to be allocated as follows:

1. Cove Improvements LLC: Contract #3425A add $1,200,000.00

2. Rainier Restoration LLC: Contract #3425E add $1,200,000.00

WHEREAS, prior to voting on this Resolution, no Director has disclosed to the full Board any conration Law Section 713.

NOW THEREFORE LET IT BE RESOLVED, that notwithstanding Board of Directors Resolution #85-16 as amended by Board of Directors Resolution #95-44 and Resolution #20-19, that the Board authorizes the release of $2,400,000 as follows:

1. Cove Improvements LLC: Contract #3425A add $1,200,000.00

2. Rainier Restoration LLC: Contract #3425E add $1,200,000.00 may make an informed decision when casting your ballot.

BE IT FURTHER RESOLVED that the President is hereby authorized to execute change orders to the above contracts consistent with this Resolution and Management is authorized to take all steps necessary to make this action effective.

YES: Coleman, Feliciano, Johnson, Lambright, Leslie, Marbury, Peterson, Rosario, Sampson, Saunders, Smith, Wright

ABSENT: Cylich, Richardson, Watson PASSED

YES: Coleman, Feliciano, Lambright, Marbury, Peterson, Rosario, Sampson, Saunders, Smith

NO: Johnson, Leslie, Wright

The current talk in our community is about some businesses that are closing their doors. And, unfortunately, some cooperators may have thought that some of these businesses were priced out of here. However, they’re wrong.

On December 31, 2022, Silicon Valley Bank had $209 billion in assets and $175 billion in deposits. Successful? Yes, because Silicon Valley Bank was one of the 20 largest banks in America. And, shockingly, can you believe that around 90 percent of their deposits exceeded the insurance limit of $250,000? stories about the decline of this bank. So, lots of customers ran to this bank and pulled out their money. Thereafter, the news media ran stories about some of the operations of this bank.

Similarly, other businesses can be doing really well. Then, one day, you’ll see notices on their door: “Closing Down.” Then, questions, and possibly allegations, about those businesses might arise.

As a director, I want our businesses to succeed here. Therefore, just as with our cooperators, I will althing is right. But, everyone needs to understand that cooperators and our businesses must make monthly payments of carrying charges or rent to stay here.

However, what can be done when it’s discovered that some businesses owe thousands or even hundreds of thousands of dollars to Riverbay? Moreover, what can be done when it’s discovered that some businesses have not followed through on a payment plan on their arrears? How many times should Riverbay have to take a business to court just to recoup their arrears? Again, look at the outrageous amount of money that is owed to Riverbay.

Now, let’s say that Riverbay has tried to collect these outrageous sums of money from some of our businesses over a long period of time. Then, let’s say that some businesses—educational facilities and their arrears over a period of a year or more. So, yes or no, should Riverbay go to court and bring an action to evict those educational facilities and those stores that owe a lot of money for rent? Absolutely!

Now, you might like some of these educational facilities and some of these stores. But, please consider that some directors might also like these businesses. Therefore, they want these places to stay in business. However, again, these directors are limited in their actions when there are outrageous arrears on the table.

The American Medical Association produced an 8-minute video entitled, ‘Children exposed to secondhand smoke.’ This video points out that secondhand smoke can cause damaging effects in children such as respiratory tract infections, including bronchitis, pneumonia, and even ear infections. Secondhand smoke can also worsen asthma symptoms. Moreover, secondhand smoke can be just as harmful as smoking cigarettes.

In this video, some children expressed their feelings about not being able to breathe properly because of their medical conditions. For instance, a young girl about 8-years-old had asthma since she was 2-yearsold. So, she said that her chest gets tight, and that she feels like her lungs are squeezing together. So, she can’t really breathe. Also, this video pointed out that secondhand smoke can cause lung cancer and even heart attacks in adults.

HUD issued a mandate to all public housing authorities to have a smoke-free policy in place by July 30, 2018. Then, on July 30, 2018, NYCHA went ahead and produced their policy: NYCHA prohibits the smoking of tobacco products inside public housing apartments; in all indoor common areas; buildings or to NYCHA’s property boundary if less