6 North Shore Towers Courier n May 2015 BY STEPHEN VRATTOS “A number of significant matters— some pending for a long time—have been concluded in recent months, much of which resulted from the hard work and dedication of Board Members who by and large have adopted a hands-on, face-to-face, and being-on-the-scene approach to conducting business, rather than operating by long distance, memos, proxies or emails.” This opening remark by Board President Mort Gitter set the stage for the Wednesday, April 4, 2015, Open Board Meeting at Towers on the Green. Joining President Gitter on the dais were fellow Board Members Fred Chernow, Mario Carmiciano, Felice Hannah, Maria Termini-Miller, Bruce Savid, Howard Teitelbaum, Pat Tulchin, Jim Short, and attorney Errol Brett, in-house comptroller Rob Serikstad, and General Manager Glen Kotowski. Proceedings began at approximately 7:30pm to a packed room of NST residents. Board President Mort Gitter Understanding that some residents may not have appreciated the high level of activity, President Gitter explained the reasons for this recent flurry of activity. In the fall, three new generators were installed costing approximately 14 million dollars. The project was completed on time, with minimum inconvenience to residents, and the equipment is running smoothly and more energy efficiently. Additional improvements will be conducted in the coming months. Negotiations with Time Warner Cable concluded in December. The new 7-year contract will reduce residents’ monthly charges if they opt to take advantage of the new packages offered. Also, there will be no rate increase for the next five years, and Time Warner has reiterated its commitment that service will continue to improve. Residents can check out the new cable packages in the management office. The movie theater renovations have been completed—new seats, stage, screen, and state-of-theart equipment—and the cinema COME TO ORDER NST Open Board Meeting highlights many accomplishments and great success is open for business, with new operators, providing quality films and experienced, professional theater management. Highly qualified and experienced restaurateurs were found to operate the Towers Restaurant and catering facilities. Spiros and Buffy Dimas entered into an equitable lease, the terms of which were disclosed to shareholders in the Board President’s February letter. It was noted that the prior tenants left the premises in deplorable condition. After a thorough cleaning, the restaurant reopened without interruption on Sunday, March 2, 2015. A complete renovation of the kitchen is expected to commence shorty with restaurant improvements to follow. Every effort will be made to keep the facility operating during renovations. Residents are asked to be patient, as the job requires a tremendous amount of logistics, time and effort. It is important that the new tenants are welcomed and patronized, so North Shore Towers can retain this important amenity. The new tenants want to hear suggestions and constructive comments, and residents should not be bashful to offer them. The 2015 Board of Directors elections are scheduled for this spring. FOUR directors will be elected and requests for nominations will be mailed to shareholders on or about April 30. Nominations will close on May 19. Mailing of the ballots and the “Meet the Candidates” night will follow shortly thereafter. Balloting will conclude at the annual shareholders meeting on June 18, after which results will be counted and promptly announced. The 2014 Certified Financial Statement was made available to all shareholders on April 1 in the Photos courtesy of Glen Kotowski and Greenthal Management management office and also appears on the official NST website. Last year’s financial condition and the operating conditions for 2015 continue to be positive and will be discussed at the annual shareholders meeting on June 18. The Board President acknowledged that most shareholders were supportive and understanding, but found a recent spate of “criticism, negativism, unfounded rumors and board-bashing by a small but active group of residents” unfortunate. In closing the Board President thanked the Members for the many difficult and hard hours they spent performing their jobs over the last several months. He stressed shareholder participation in the future be without negativism or rancor so the Board can continue to ensure NST remains a great and dynamic place to live. First Vice President Fred Chernow First Vice President Fred Chernow opened with the latest real estate information at NST. Low inventory, coupled with high demand, has pushed prices of units even higher. Comparing the 22 apartments sold in the first three months of 2014 with the 18 sold since the start of 2015, Chernow noted a 21% average increase in the value of shares. Some units sold in the last three months went for more than one million dollars. Chernow thanked the efforts of both the Board and NST residents for this development. Chernow reported the “massive success” of the Short Film Festival Retrospective and acknowledged that organizer Marilyn Chris was largely responsible. The Short Film Festival is already reviewing films for next September’s 3rd annual event, which will showcase the top four selections. Acknowledgment was made of the well-received April 20 showing of the 92nd Street Y live program, “Just kids from The Bronx,” starring Alan Alda and Regis Philbin. The live presentation, which was ticketed at $45, was less than two weeks old when it was presented to the NST community in the VIP Room free of charge, and Chernow plans on continuing this successful relationship with 92nd Street Y in the future. The NST 40th Anniversary Committee met on April 3rd to further discuss the planned 3-day celebratory weekend on June 12–14 (Friday, Saturday, Sunday), which will feature two showing of a DVD documentary, produced for the event; a Saturday evening dinnershow in Towers on the Green; and a Street Fair in the arcade area Sunday afternoon. Residents are asked to stay tuned for more details in both The Courier and Tower Times. Chernow promised to continue to search for the best programs for residents, and in acknowledging the impending Passover and Easter weekend, suggested all to “Thank God for family, health, living in North Shore Towers.” Second Vice President Mario Carmiciano Carmiciano updated residents on the Capital Improvement Group and Long-Range Planning, acknowledging the hard work and help of fellow Members Maria Termini-Miller, Howard Teitelbaum and Pat Tulchin, General Manager Glen Kotowski and NST attorney Errol Brett in securing new operators for the Towers Restaurant and looks forward to the renovations. Board President Mort Gitter
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