BOARD DISCUSSES NEW MORTGAGE, HUGE COST SAVINGS BY SWEETINA KAKAR row, there will not be a maintenance or less than the previous year, but the total reserves decrease of $2,902,000 Country Club fee increase. The biggest expenses in 2013 are also $600,000 in funds by December 31, 2013 from Country Club members and North expectation for the year 2013 is the less than those in 2012. The budgeted the 2012 funds of $21,831,000. The Shore Tower residents gathered to new mortgage, which Ricken said was revenue from operations, specifically capital improvement fund dropped the review the finances for year 2012 and the “greatest cost-saving achievement maintenance and electricity income, most with $2,958,000 to $6,166,000. look into 2013’s budget and finances. in the history of North Shore Towers.” will be $43,071,000, and the budgeted The cash and working capital will, Most notably, a new $66 million The new 10-year term, starting operating expenses are $41, 637,000. however, increase $8,000 from 2012’s mortgage will be in place for the new November 2013, is a $66 million The majority of the operating expenses $6,659,00. year. mortgage, down from the old mortgage are in real estate taxes at $18,585,000, After comparing the years, Gitter Dozens packed into Towers on of $75 million. This will decrease in while the rest is spread between labor, opened the floor to the attendees for the Green and attentively focused interest rate to 3.13 percent, a 2.09 fuel, mortgage payments and water and a question-and-answer session with on the numbers that flashed on the percent change from the original rate. sewer. the board and committee members. PowerPoint. Leading the meeting was “Under the old mortgage, our The 2013 improvement and Gitter answered a question about the Mort Gitter, Towers Treasurer and mortgage cost was $4.9 million for a equipment budget comes to $5,030,000, new 10-year term mortgage, where he chair of the Finance Committee; Bob year. For the next five years you can and $3 million of that will be spent explained the annual cost and savings. Ricken, Board President; and Rob see we’re saving $2.9 million dollars on power plant generators. With no “I just want to commend the board Serikstad, Towers controller. annually,” said Gitter. maintenance and club fee increase, and the committee for the tremendous The first order of business was In the last five years of the new the board and committee plan to pay amount of work and tremendous a report on the 2012 operations. The 10-year mortgage, the savings should for the improvements with the 2013 number of hours you must have put budgeted shortfall from operations was be $1.9 million, adding to the $14.5 surplus from operations, transferring into this, and I speak for everybody $870,000, while the projected surplus million from the first five years for an fees, investment income, accumulated when I say thank you,” said a resident from operations was $1,880,000. overall saving of approximately $24 reserves and possible financing. from Building 2. The overview of this year’s finances million. The meeting came to an end After praise from the members and quickly moved onto the expectations Continuing to look into 2013, with a comparison of 2012 and 2013 residence, the large group broke up into for 2013, where for the fourth year in a the budgeting revenue is slightly funds, and showed there will be a smaller groups for coffee and snacks. NST is his future Meet Your Concierge: Jim Ryan BY MAGGIE HAYES times on his shifts, because it allows him to see different things and different people. Jim Ryan is coming up on his 19th year at “I just like seeing the residents,” he said. the Towers, and has established a well-respected “There are a lot of good people in North Shore reputation amongst workers and residents alike. Towers, you get to know a lot of friendly faces.” “It’s nice to work here,” said Ryan. “I like One of those friendly faces is resident Arthur “He is really what I would say is a blessing to responsibilities: handling mail and packages, North Shore Towers Courier“Everything that you need, when you need it, coming here.” Doc, who has an eight-year history with Ryan. Ryan started at the North Shore Towers in 1993 following a job in Manhattan. He began as he’s always there for you,” said Doc. “It’s never, a porter, and worked his way up to Building 3’s ‘I’ll do it later,’ he’s always there for you.” concierge. During shifts, Ryan enjoys his typical concierge me,” said Manny Bernacet, Ryan’s boss and the coordinating handymen and security within the superintendent in Building 3. “He is excellent building and logging in everything that takes place. and beyond the call of duty.” When he’s not at the Towers, Ryan lives in The two have worked together for 16 years, Whitestone with his girlfriend. Together, the two and Bernacet said that so long as Ryan is around, have four children. Ryan has two grandchildren, 2 he is never caught off track regarding any and 7, and enjoys spending time with them during n and Monday through Wednesday from 3:30 pm he said he feels with his job is more than something January 2013 3For the future, all Ryan can see is North Shorethe day, before his weekday shifts start.Towers. The family environment and the comfortRyan works during the day on the weekends, happenings in the building, and that he truly is the “super’s right hand man.” to midnight. For him, he enjoys the change in to be thankful for.
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