Forum Archive

It seems as if we need some changes on our coop board – our maintenance has gone up again and again (the board claims heat bills and taxes, yet none of the other buildings on the street have gone up), the work we had done on a hall reno looks substandard and took WAY too long – I’m pretty sure the contractor was the team the sponsor uses for all his properties – doubt we even got other bids, and now they’re trying to vote in a flip tax offering the shareholders a % of gross sales price as the only option – when we agreed in a meeting it would be a % of net less agent’s fee (the coop’s lawyer – also the sponsor’s lawyer (?!) drafted it “wrong”). I (the new secretary) offered to type up an info sheet explaining the diff types of flip taxes – flat per share, % of sales price, percentage of net, etc…and I was told by the president (who has been since inception – 8-10yrs?) that it would be “inappropriate for me to lobby the shareholders”. What?! I think we need an audit and perhaps a change of the guard – can anyone rec a good coop atty who can help straighten this out, and get everything going in a direction that seems more above-board? Please help!!